NMLS Prep Chapters 1-3

This class was created by Brainscape user Dakota Barber. Visit their profile to learn more about the creator.

Decks in this class (18)

Federal Law Acronyms
Safe act,
Tila,
Respa
32  cards
TILA
Reg,
Overview,
Advertising
10  cards
RESPA
Respa overview,
Section 6,
Sect 6 transfer of servicing disc...
14  cards
Products
Fixed rate mortgage,
Escrow,
Traditional mortgage
54  cards
Conventional Loan Qualifications
Maximum debt to income,
Minimum down payment,
Minimum credit score
15  cards
FHA Loan Qualifications
Maximum debt to income,
Minimum down payment,
Minimum credit score
16  cards
VA Loan Requirements
Maximum debt to income,
Minimum down payment,
Minimum credit score
14  cards
USDA Qualifications
Maximum debt to income,
Minimum down payment,
Guarantee fee
9  cards
Chapter 3 RESPA
Real estate settlement procedures...,
Respa does not cover,
Good faith estimate gfe
12  cards
Chapter 3 TILA (Truth in Lending Act)
Truth in lending act tila reg z,
Rules that fall under tila,
Tila and dodd frank both regulate
19  cards
Chapter 3 ATP
Ability to repay rule atp,
8 underwriting factors lenders mu...,
Qualified mortgage qm
8  cards
Chapter 3 Home Ownership Protection Act (HOEPA) & Higher Priced Mortgages (HPML)
Home ownership and equity protect...,
Transactions that are tested with...,
Transactions exempt from hoepa
12  cards
QM & HOEPA Review
Safe har or qm,
Rebuttable presumption qm,
Hpml qm
9  cards
CHAPTER 3 TRID, MDIA, MAP, UDAAP
Tila integrated disclosure rule trid,
Trid does not apply to,
Disclosures discontinued by trid
16  cards
Chapter 3 Telemarketing and Do not Call
Telemarketing sales rule,
Abusive telemarketing acts and pr...,
Restrictions on telemarketers pay...
7  cards
Chapter 3 FCRA & FACTA & GMBA
Fair credit reporting act fcra or...,
Per fcra what are the acceptable ...,
What does an adverse action discl...
20  cards
Chapter 3 BSA/AML, US Patriot Act, & ECOA
Bank secrecy act anti money laund...,
Suspicious activity reports sars,
How long must lenders retain copi...
17  cards
Chapter 3 HMDA
Home mortgage disclosure act hmda...,
Community reinvestment act of 197,
Who should report under hmda
9  cards

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NMLS Prep Chapters 1-3

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