History Flashcards
Why was the Homeowners loan corporation created
Refinance loans made in the private sector
Why was the federal home loan bank created
To regulate savings and loan associations
Why was the FDIC (federal deposit insurance corporation) created
Protect borrowers deposits
Why was the FHA ( federal housing administration) created
To reassure lenders in cases of borrower defaults
Which law created a barrier between investors and mortgage marketplace
Glass steagall 1933
What groups does the Dodd-frank act apply to
Financial institutions, appraisers,investment advisors
What are 2 main things Dodd-frank act accomplished
CFPB
UDAAP’s
What are 3 UDAAP’s
Unfair
Deceptive
Abusive activities
Person definition
Company, corp, natural person
Natural person definition
An individual human being
What is a customer
Someone with an ongoing relationship with a lender
What is a consumer
An individual who may create a relationship (shopping)
