Missed Q's on Practice Exam Flashcards
(201 cards)
1
Q
If a loan processor or underwriter is an independent contractor, do they need to be licensed as an MLO?
A
Yes, according to the SAFE Act
2
Q
Which tolerance bucket do origination fees fall under?
A
Zero Tolerance
3
Q
Which law deals with the accuracy of credit reports and the use of credit reports?
A
The Fair Credit Reporting Act (FCRA, Regulation V)
4
Q
Alt-A or Alt-Doc loans are considered___
A
Subprime loans
5
Q
John is purposefully misstating what he pays in child support. What is this considered?
A
Material Misstatement
6
Q
How long can Chapter 13 bankruptcies stay on the credit report?
A
7 years
7
Q
How long can Chapter 7 bankruptcies stay on the credit report?
A
10 years
8
Q
George has a loan that is amortizing over 30 years, but he will be required to pay the remaining principal in 15 years. What is this called?
A
Balloon mortgage
9
Q
When must the Home Loan Toolkit be provided to the borrower on a purchase transaction?
A
3 days after application
10
Q
RESPA requires that servicers provide an initial escrow account statement within:
A
within 45 days of settlement, per RESPA
11
Q
Which federal law prohibits someone from inquiring about childbearing?
A
ECOA (Reg B)
12
Q
What is Reverse Redlining?
A
The opposite of redlining; it is where a financial institution lends specifically in poor inner-city neighborhoods to charge them more than a comparable white consumer.
13
Q
What types of loans are government-sponsored entities?
A
Fannie Mae and Freddie Mac
14
Q
How long is the waiting period once initial disclosures are provided, before a loan closes?
A
7 business days, per the MDIA 3/7/3 Rule
15
Q
A Section 203K loan is a____
A
rehabilitation loan offered by FHA.
16
Q
What law require that a $5,000 cash transaction be reported?
A
The Bank Secrecy Act/Anti-Money Laundering requires the reporting of transactions over certain amounts in order to combat money laundering.
17
Q
Which transactions are not governed by the new TRID Rules?
A
HELOCs and Reverse Mortgages are not required to follow TRID requirements, they continue to use the Good Faith Estimate and TIL Disclosures.
18
Q
Which law prohibits discrimination in disability?
A
The Fair Housing Act adds disability as a protected class. ECOA does not include disability as a protected class. That’s a good way to differentiate between the two laws.
19
Q
What differentiates MLO duties from clerical?
A
Discussing rates and terms
20
Q
This insurance protects against the possibility of future loss should the borrower’s legal rights to their property be challenged.
A
Title insurance
21
Q
HOEPA (section 32 of TILA) has to do with which types of loans?
A
high-cost home loans.
22
Q
What may be associated with a “get rich quick” scheme?
A
Chunking is the sale of properties at artificially inflated prices, pitched as investment opportunities to naïve real estate investors who are promised improbably high returns and loan risks.
23
Q
Gregory’s loan is $125,000. For it to be considered a qualified mortgage, the points and fees cannot exceed what amount?
A
$3,750
24
Q
The Red Flags Rule is part of what law?
A
FACTA
25
A lender refusing to report timely payments to the credit reporting agencies is an example of:
Predatory lending. Some creditors do not report timely payments to the credit reporting agencies. A borrower's payment history will not reflect correctly in this situation. Predatory lenders will not report to try to maintain the borrower for them.
26
Who gets paid for YSPs?
YSPs are paid to the broker for giving a borrower a higher interest rate on a loan in exchange for lower up-front costs generally paid in origination fees, broker fees or discount points
27
The SAFE Act does what?
The SAFE Act established all the licensing requirements for MLOs.
28
What does the Fair Housing Act not protect? (ECOA added this protection)
The Fair Housing Act prohibits discrimination in housing because of race, color, national Origin, religion, sex, familial status & disability. ECOA prevents discrimination against age.
29
What is this a violation of? An MLO who leases office space in a real estate office at an above market amount
It is a violation of Section 8 of RESPA.
30
What is the industry standard, for gross percentage adjustment on a residential property appraisal?
Gross adjustment target should not exceed 25%, or 15% net, or 10% line item for comparables.
31
If an MLO or agent tells a client to move into a neighborhood he would fit into, what are they accused of?
Steering`
32
Which organization helps develop model legislation applicable to the administration and regulation of mortgage lending?
Both the CSBS and AARMR created the NMLS and helped to develop the Model Law for states to use to implement the SAFE Act.
33
When performing the sales comparison approach, what does "adjusting properties" involve?
Changing comparables to adjust to subject property
34
What is the funding fee for IRRRL's?
The current funding fee on an IRRRL is .50% for any and all veterans.
35
Lender must tell borrower reason for denial within how many days of application?
Under ECOA, it is the lender’s responsibility to notify an applicant of any action taken on the applicant’s request for credit, whether favorable or adverse, within thirty (30) days of receiving the completed application.
36
What federal legislation prohibits the exchange of information between consumer creditors unless certain disclosures are made to the consumer?
GLBA protects NPI and if a financial institution shares (or sells) NPI with a third party for uses other than the original intention, the financial institution is required to provide a detailed privacy policy disclosure to the application with the option to opt-out.
37
Under FHA loan rules, effective June 2013, if a borrower puts 10% down or more, they will pay an annual mortgage insurance premium (MIP):
FHA loans over 90% LTV requires MIP for the life of the loan.
38
Is monthly rent considered in DTI ratios?
No bc it is made up by the current housing expense
39
What does an underwriter do?
An underwriter is responsible for making credit decisions and analyzing the borrower's loan file.
40
What would disqualify the use of income generated from a basement apartment in qualifying for a Freddie/Fannie loan?
If it was appraised as a single familiy home. For income to be considered from a basement apartment, the property would need to be appraised as a multi-unit dwelling.
41
The Homeowners Protection Act or HPA does what?
regulates the cancellation of PMI depending on the borrower's LTV.
42
Why did lenders charge subprime loans?
Subprime loans generally had higher interest rates and fees and so the lender could make more money on them than on conforming mortgages. The lender took a higher risk for higher payment.
43
There are two exceptions when dealing with an adverse action notice, what happens if the lender provides a counteroffer and the applicant does not accept it?
The lender must notify an applicant of adverse action within ninety (90) days after making a counteroffer, unless the applicant accepts or uses the credit during that time. The lender may not have to notify the applicant of adverse action if the application was incomplete, and the lender sent the applicant notice that the application was incomplete.
44
TRID requires a borrower to:
Indicate their ITP
45
HMDA reports are due when?
March 1st.
46
Which rule was NOT mandated by Dodd-Frank?
The Red Flags Rule is rule under FACTA
47
What happens if an MLO writes a loan while their license is revoked?
The MLO is committing unlicensed activity, the loan is still valid but the MLO broke the law.
48
Are MLO's who work in bank branches or credit union branches required to be licensed?
No - They are required to be registered and are not required to take pre-licensing or continuing education, nor are they required to take the National Test Component with the Uniform State Test.
49
The Opt Out Rule includes which types of notices?
The Opt-Out Rule requires initial, opt-out, annual and revised privacy notices.
50
Under the Do Not Call Provision, an MLO can contact a previous client from an established business relationship for up to how many months?
18 months after the last transaction, even if the consumer is on the Do Not Call Registry.
51
What is the first test for a HOEPA loan?
The APR Test. If the APR on the mortgage exceeds the Average Prime Offer Rate (APOR) for a comparable transaction by more than specific percentages then the loan is considered a high-cost home loan.
52
All third-party fees collected before closing should be placed where?
Into an escrow account until they are disbursed.
53
It's okay to advertise terms if:
You have them available to most qualified borrowers.
54
Under ECOA, it is the lender’s responsibility to notify an applicant of any action taken on the applicant’s request for credit, whether favorable or adverse, within how many days of receiving the completed application?
30
55
The government uses HMDA data to prevent____
redlining and blockbusting.
56
Who gives final approval or disapproval on a loan?
The underwriter
57
After the crisis of the Great Recession according to FHA underwriting when can a borrower repurchase again after a short sale?
FHA's three-year waiting period starts from: The date of the short sale, OR. If the prior mortgage was also an FHA-insured loan, from the date that FHA paid the claim on the short sale.
58
If borrower Jill has a loan with an LTV of 95% how would her PMI change if she put an extra 5% down to bring her LTV to 90%?
If Jill brings her LTV down 5%, then it is likely that her PMI would be lower than if she did not put that extra 5% down.
59
A lender has how many business days to notify the borrower of an underwriting decision?
30
60
The estimate of closing costs on the mortgage loan disclosed on the Loan Estimate are good for:
The initial Loan Estimate expires 10 business days from the date the creditor provided the LE to the consumer if the consumer does not expressly provide their Intent to Proceed.
61
ECOA requires the appraisal be given to borrowers:
3 days before settlement
62
After the crisis of the Great Recession according to Conventional underwriting when can a borrower repurchase again after a Chapter 7 bankruptcy?
4 years from discharge date
63
One purpose of the Fair and Accurate Credit Transaction Act is to prevent:
identity theft
64
If the APR on a fixed rate loan increases from the initially disclosed rate by more than ___, an additional waiting period is triggered before the loan can close.
If the APR goes up by more than 1/8th of a percent (.125) there is a new waiting period triggered per TRID.
65
An affiliated business arrangement must be given if there is what percent of an ownership interest?
1% (per RESPA)
66
A mortgage company telemarketer has been accused of inappropriately calling two consumers on the National Do Not Call Registry. What is the maximum fine the company could face for this violation?
$43,792
67
Discount points would only be used if the interest rate offered to the borrower were which of the following?
If the borrower is receiving par rate the lender might offer discount points as an option to lower the borrower's interest rate.
68
The adverse action notice must be in writing and contain the specific reasons for why the action was taken or
allow the borrower 60 days to request that information.
69
The FACTA allows a consumer to dispute inaccurate credit information. How many days are allowed for an incorrect item to be investigated?
30
70
Mortgage Servicing Disclosure Statement is required by what law?
RESPA
71
Conventional underwriting says that someone can apply for a conventional loan how many years after a short sale?
4
72
After the crisis of the Great Recession according to Conventional underwriting when can a borrower repurchase again after a foreclosure?
7 years from the credit report date
73
When a trust deed (or deed of trust) is recorded, which of the following is true?
A lien is created
74
The Market Conditions Addendum (Form 1004MC) does what?
enhance the transparency of the market trends and conditions conclusions made by the appraiser.
75
What is NOT a finance charge in a residential mortgage loan?
Appraisal fee
76
If an underwriter needs to verify a borrower's down payment, what might they request the processor order?
A VOD is a Verification of Deposit. It is used to verify if X amount of money is in a borrower's bank account.
77
What are the terms of the “cooling off” period if a loan falls under HOEPA?
HOEPA includes a three-day “cooling off” period between the time the borrowers are furnished with disclosures and the time that they are obligated under the terms of the loan.
78
When is a Notice of Adverse action required when the borrower applies for a loan?
Under ECOA, it is the lender’s responsibility to notify an applicant of any action taken on the applicant’s request for credit, whether favorable or adverse, within thirty (30) days of receiving the completed application
79
What is NOT considered in calculating a credit score?
The monthly payment affects DTI but does not change a borrower's score
80
Which loans are assumable?
VA and FHA loans
81
What is the acceptable way to ask about marital status per ECOA?
Married, unmarried or separated
82
Per TILA, the lender is required to provide 2 copies of the Notice of the Right to Rescind to who?
ALL owners (even if they aren't on the loan)
83
A borrower is making minimum payments that are less than the entire amount of interest owed. the unpaid interest is deferred by adding it to the loan balance. What is this called?
Negative amortization
84
For mortgages with terms of 15+ years and more than 90% LTV, MIP is required for a minimum of how many years?
11
85
The 4 types of QMs
general, temporary, small lender and balloon.
86
A borrower is not likely to be approved if the borrower’s credit report shows that they have been more than 60 days delinquent in:
12 months
87
A loan fails the HOEPA prepayment penalty test if the prepayment penalty is required:
more than 36 months after consummation or account opening.
88
The maximum penalty under the SAFE Act is:
$25,000
89
Which type of bankruptcy liquidates the borrower’s debts?
Ch 7
90
What type of mortgage is exempt from HOEPA?
Reverse Mortgage
91
The current maximum funding fee of a VA loan is
3.6%
92
One basis point, used to denote the percentage change in a financial instrument, is equal to
1/100th of 1%, or 0.01%
93
On a first lien transaction of more than $50,000, the loan is considered to have failed the HOEPA APR test if it exceeds what percentage of the APOR?
6.5%
94
What federal law requires the Notice of Adverse Action?
ECOA
95
A history showing the title changes regarding a property is required by an underwriter for what purpose?
To verify that there are no issues with the title to the property
96
In which order is the borrower's mortgage payment disbursed?
Interest, principle, escrow
97
The SAFE Act was created to
oversee and regulate the licensing of mortgage loan originators in the United States.
98
What is section X of the current 1003?
the Government Monitoring Section and is where HMDA information sex, ethnicity and race are collected.
99
Business income is derived from a sole proprietorship and is calculated on which of the following tax forms?
Schedule C
100
In order to maintain a loan originator license, the applicant must be covered by a surety bond pay into a state fund, or be covered by a:
net worth requirement be met by the applicants employer.
101
How many days do you have to correct a non-numeric clerical error on the Closing Disclosure?
30
102
What is a wraparound mortgage?
A type of 2nd mortgage
103
What is the primary purpose of the primary market?
To originate loans
104
What never falls into the zero-tolerance category?
transfer taxes
105
What type of loan might require two closings?
Construction
106
Which of the following would NOT appear on Page 5 of the Closing Disclosure?
Discount points
107
Andrew is a veteran and he's looking to obtain his very first VA loan to purchase his very first house. He knows that he will have to pay a funding fee, he is planning on putting down 10%, what would his funding fee be?
1.4%
108
The Telemarketing and Consumer Fraud and Abuse Prevention Act includes the:
Telemarketing Sales Rules
109
The tolerance of APR (annual percentage rate) allowed by TILA (Truth-in-Lending Act) for a regular transaction is what percentage?
.125%
110
When a lender provides the consumer a loan estimate, and the borrower has provided his intent to proceed with the loan within 4 calendar days of receipt, how long must the lender honor the fees quoted on the loan estimate?
Until closing unless changed circumstance
111
What would regulators look for in determining if an applicant for an MLO license is financially responsible?
A recent foreclosure
112
An act of practice is considered ____________ if it materially interferes with the ability of the consumer to understand the term or conditions of the loan product.
Abusive
113
A state licensed mortgage loan originator's sponsor is their…
Employer (sponsorship = employment)
114
If a licensee fails to renew their license by December 31st, reinstatement must be completed by___?
February 28
115
Between the notice of default and the notice of sale, the borrower typically can:
reinstate the mortgage by paying off whatever they owe, plus fees and costs (which can be very high). With a couple of exceptions, once the sale occurs, the borrower’s house is gone.
116
Which entity's function is to originate, but do NOT fund the loans they originate?
Brokers
117
What is the main purpose of the Fair and Accurate Credit Transaction Act that amended the Fair Credit Reporting Act?
Prevent Identify theft
118
Commercial communications under the MAP Rule are required to be kept for:
2 Years
119
Closing agents or settlement agents do what?
walk the borrower through the disclosures, verify the borrower's identity and then disburse funds.
120
What do MLO's NOT do?
MLOs do not function in an administrative capacity by collecting or posting information about borrower's mortgage payments.
121
When the loan documents are signed, loan balanced, funding of the loan and recording happen almost simultaneously on the same day it is considered…
Wet funding (more strict, moves faster)
122
Co-ownership is also known as:
concurrent ownership and is the ownership of a property by two or more persons who share title to real property
123
In May of 2018, Congress passed the Economic Growth, Regulatory Relief and Consumer Protection Act to amend FCRA and requires
nationwide consumer reporting agencies to provide national security freezes free to consumers
124
Which one of the following have credit card or bank accounts, originates loans, and may service loans?
Depository Institutions
125
What is The Federal Housing Administration's most widely used loan program?
Section 203(b) mortgage insurance
126
Who generally determines which type of closing agent (title, escrow or attorney) is allowed for the transaction?
State Government
127
If there is a change of circumstance due to the interest rate being locked after initial Loan Estimate provided, the lender is required to…
Provide LE within 3 business days of the changed circumstance
128
What is the Surety Bond's primary function for mortgage lending license?
Benefits commissioner and any person damaged by licensee
129
If an MLO consistently understates the APR, they are in violation of TILA and could face a penalty of:
$5,000
130
To be considered a QM loan, the consumer's total debt to income cannot be more than
43%.
131
Which law was amended in 2014 to include the Ability to Repay Rule or ATR?
The Truth in Lending Act (TILA, Regulation Z)
132
Which act or practice causes or is likely to cause substantial injury to consumers? The injury is not reasonably avoidable by consumers.
Unfair
133
Is a person required to have a license if they are helping an immediate family member obtain a loan?
No
134
When a borrower or MLO knowingly makes a false statement on a mortgage application, what is the potential punishment and fine from violating federal law?
fine of up to 1 million dollars, imprisonment for up to 30 years or both.
135
The government sponsored enterprise major role in mortgage lending has been to…
provide liquidity to the market by purchasing mortgage backed securities from lenders and funneling money back to the lender so they can continue to lend
136
What is a conversion option for an Adjustable Rate Mortgage?
allows the borrower to convert the loan from an ARM to a fixed at specific time during the loan.
137
It is a prohibited act under ____ Act to threaten or bribe an appraiser to influence their judgement when completing an appraisal.
SAFE Act
138
For wedding gift funds to be an acceptable source of funds, the funds must be deposited in the borrower's account for:
60 days
139
Per FACTA, in a situation where a creditor discloses to a consumer credit reporting agency negative information the creditor must disclose that information to the consumer. The disclosure must be made to the consumer no later than:
no later than thirty (30) days after the negative information was provided to the credit bureau(s)
140
After an MLO takes an application, when must the send a written list of homeownership counselors?
within 3 business days
141
The collateral in a mortgage is the
property. Collateral is defined as something pledged as security for repayment of a loan, to be forfeited in the event of a default.
142
When the MLO fails to renew by December 31st, what additional information is needed with paying a late fee before the deadline?
must make up any continuing education deficiency by complete late CE courses or they have to prove they took their CE before December 31st.
143
A borrower purchases a loan for his brother, but says he will be the one occupying the property. This is termed…
Occupancy fraud
144
What laws requirements can be satisfied by disclosing the Notice to Home Loan Applicant to borrowers?
FACTA requires specific information be provided to consumers when their credit report is being used.
145
For what reason do lenders 'season' the borrower's cash to close?
Requiring cash be seasoned for 60 days gives the credit reporting bureaus enough time to begin reporting any new debt.
146
What is it called when there is a risk that a loan's future payment increase may cause borrower default?
Payment shock
147
A mortgage loan originator must scrub their telemarketing list every:
Every 31 days
148
A secured asset loan payment must be…
included in the borrower's DTI
149
What law requires risk-based pricing notices to applications that were denied or who are going to receive less favorable offers of credit?
FCRA requires the provision of risk-based pricing notices and credit scores to consumers whose applications are denied or who receive less favorable offers of credit.
150
When a veteran does not have sufficient tradelines on his credit report, what can be used to establish credit history?
payment history on rent or utilities.
151
What section of the 1003 application discloses the estimated amount the borrower will need for closing?
Details of transaction
152
Who purchases mortgage backed securities on the secondary market?
Investors. Some of the more well-known investors are the GSEs
153
What section of the 1003 application notes what the borrower will be using for closing costs?
Source of down payment
154
Which disclosure informs the consumer if the funding lender will retain their loan for servicing?
There is a section on Page 3 of the LE related to servicing and the retention of servicing rights.
155
The Economic Growth, Regulatory Relief and Consumer Protection Act ammeded FCRA and extended fraud alerts from 90 days to:
1 year
156
Fair and Accurate Credit Transaction Act provides which right for consumers?
To obtain one free copy of their credit report annually
157
Dodd-Frank Wall Street Reform and Consumer Protection Act included what type of provision to clarify the steering/LO Compensation provisions of the legislation.
Safe Harbor
158
According to TSR, if you have ONLY taken an application with a consumer on the Do Not Call List, you may solicit that consumer for:
3 months
159
According to conforming guidelines, a deposit on the bank statements is considered large if more than:
50% of the monthly qualifying income
160
NMLS licensing requires how many years past employment history with no gap without explanation.
10
161
An MLO decides to do some advertising and cobrand with her favorite realtor. For RESPA compliance how will the payment of the advertising be handled?
For this to be legal and not a violation of RESPA Section 8 they have to split the costs.
162
Servicers handle collection problems on mortgage loans, and may have a REO Department. REO stands for…
Real Estate Owned
163
When a consumer is on the Do Not Call Registry, he/she has special rights. How long may you solicit a DNC borrower you closed a loan for or a potential client you discussed possible loan programs with, if he/she gives you written permission to contact them?
unspecified period of time
164
Mortgage Insurance Premium and Upfront Mortgage Insurance Premiums are paid where?
directly to the FHA.
165
How often are FHA loan limits calculated?
Every year
166
A quick and easy method of multiplying the daily interest rate by the principal, by the number of days between payments is termed…
Simple interest
167
If a borrower is refinancing their home and it is a multi-unit property and the borrower wants to use those rental funds, what will the underwriter require in addition to the appraisal?
Single-Family Comparable Rent Schedule.
168
When a borrower has no housing payment history in the last 24 months, the MLO should…
this should be explained by the borrower in a letter of explanation to the underwriter.
169
The Fair and Accurate Credit Transaction Act requires the borrower be given a disclosure. What does the disclosure inform the consumer of?
The borrower's credit scores and explains the use and importance of credit scores
170
When mortgage loan originators review a borrower's bank statements, they are looking for:
whether the borrower owns the account and whether there are any large deposits that potentially send up a red flag for other liabilities or don't match up with the borrower's income.
171
What is the name of the federally mandated website consumers may use to obtain a free copy of their credit reports annually?
www.annual- creditreport.com
172
Which law requires yearly training of all lender employees in order for the lender to be compliant.
BSA/AML
173
Who will make the credit decision on a loan file?
A mortgage underwriter
174
What event occurs when the 3-day right of rescission has passed?
Funding
175
When would a subordination agreement be appropriate?
A first mortgage is being refinanced and doesn't want to lose priority to an existing 2nd mortgage.
176
TILA (Regulation Z) regulates what?
Advertising
177
Under HOEPA, late fees cannot exceed what percent of the past due payment?
4%
178
After the crisis of the Great Recession according to FHA underwriting when can a borrower repurchase again after a foreclosure?
3 years from the credit report date
179
After the crisis of the Great Recession according to FHA Standard underwriting when can a borrower repurchase again after a Chapter 13 bankruptcy?
1 year
180
Under which federal legislation does the consumer have the right to receive a copy of the appraisal report on a dwelling that is to be used as collateral for a loan?
ECOA
181
When a trust deed (or deed of trust) is recorded, which of the following is true?
Lien is created
182
What are the terms of the “cooling off” period if a loan falls under HOEPA?
3 days prior to closing
183
Borrowers must wait __ years from a Chapter 7 bankruptcy to apply for conventional financing.
4
184
A Mortgage Servicing Disclosure Statement is required by what law?
RESPA
185
After the crisis of the Great Recession according to Conventional underwriting when can a borrower repurchase again after a foreclosure?
7 years
186
What is the appraiser most interested in when determining the value of an income property?
Projection of rent and expenses
187
After the crisis of the Great Recession according to Conventional underwriting when can a borrower repurchase again after a short sale?
4
188
A loan officer creates a marketing plan to make between 2k and 4k per loan. His cousin calls, he agrees to do the 300k loan for .75% commission. This is:
legal and ethical bc he is within his marketing plan
189
A cash out refinance's goal is to
get cash to the borrower from the equity of their home.
190
After the crisis of the Great Recession according to VA underwriting when can a borrower repurchase again after a Chapter 7 bankruptcy?
2 years from ch 7 bankruptcy
191
After the crisis of the Great Recession according to VA underwriting when can a borrower repurchase again after a Chapter 13 bankruptcy?
1 year
192
Land is given as a separate value in which of the following appraisal methods?
cost approach
193
What is NOT used in determining a borrower's credit score?
The monthly payment
194
The term “20 basis points” expressed as a percentage is:
.2%
195
The consumer can be charged an appraisal review fee:
Only if it's been disclosed
196
How many days do you have to correct a non-numeric clerical error on the Closing Disclosure?
60 days after consummation
197
If an underwriter is looking at a borrower's credit report, how far back are they looking at credit inquiries?
90 days
198
Reggie is a licensed appraiser, he is working on an appraisal for a borrower whose obtaining conventional financing, how many comparables does he need to have on his appraisal?
A minimum of three comparables is required by most secondary market lenders to ensure an accurate appraisal from sufficient data.
199
Who is responsible for the completion of the URLA?
MLO
200
The CFPB has provided guidance on what agreement related to RESPA Section 8:
Marketing Service Agreement
201
A lender will obtain a what to insure proper lien position
Title Insurance
