The Commissioner of the Florida Office of Financial Regulation (OFR) is appointed by whom?
Financial Services Commission
This federal act requires that all states have in place a system of licensure for mortgage loan originators?
the Secure and Fair Enforcement for Mortgage Licensing Act of 2008
This organizations maintains a national database which tracks mortgage industry licensees and their licenses is the
Nationwide Mortgage Licensing System and Registry (NMLSR).
Which is the NMLSR registry form that is used by mortgage loan originators?
MU4
Uniform Individual Mortgage License Registration & Consent Form
Which is the NMLSR form that is used by mortgage lenders and originators ?
MU1
Which is the NMLSR form that is used by mortgage branches?
MU3
Which is the NMLSR form that is Uniform Biographical Statement & Consent
MU2
Which division of the Office of Financial Regulation (OFR) is the one that licenses, examines, and regulates non-depository financial services companies and other related industries in the state of Florida?
Division of Finance
Which division of the Office of Financial Regulation (OFR) i is the one thatprotects the investing public from investment and securities fraud?
Division of Securities
Which division of the Office of Financial Regulation (OFR) is the one examines, and regulates state-chartered financial institution?
Division of Financial Institutions charters
Within the Florida Office of Financial Regulation, the responsibility for the establishment of regulations for chartering banks, savings and loans, and credit unions falls under what ?
Division of Financial Institutions
Which is a responsibility of the Division of Finance within the Office of Financial Regulation?
Conduct Examinations of Mortgage Brokers
Within the Office of Financial Regulation (OFR), which is a criminal justice agency responsible for conducting financial investigations of illegal activities within the Office’s jurisdiction?
The Bureau of Financial Investigations
What mortgage licensing system maintains an individual record for each mortgage lender, broker, branch, and each loan originator?
The Nationwide Mortgage Licensing System and Registry (NMLSR)
To protect the citizens of Florida by providing regulation of businesses that promote the growth and development of the economy and by enforcing the banking, securities and financial laws of the state is the mission of the
Office of Financial regulation
What does the APR represent in a mortgage transaction?
The actual cost in the form of an annual interest rate the bower will pay for credit
Where are the finance charges reported to the borrower initially?
On the Truth in Lending initial disclosure form
TILA requires two additional disclosures for Adjustable Rate Mortgages on a consumer’s principal dwelling with a loan term greater than 12 months when the rate can change after the consummation of the loan. One disclosure is a booklet titled “Consumer Handbook on Adjustable Rate Mortgages.” Choose the other required disclosure is ?
A disclosure for every adjustable program in which the consumer expresses an interest
