TRID
TRID
What is Truth in Lending RESPA Integrated Disclosure?
SFHDF
What is Standard Flood Hazard Determination Form?
Dodd Frank Act Section 1071.
What is the proposed rule on small business data collection?
UDAAP
What is Unfair, Deceptive, or Abusive Acts or Practices?
These are four types of digital assets.
What are:
1. Cryptocurrency (tokens and coins would also be accepted)
2. Stablecoins
3. Central Bank Digital Currencies (or CBDCs)
4. Non-Fungible Tokens (NFTs)?
The Loan Estimate must be provided within this many days following application.
What is 3 business days?
MIRE
What is Make Increase Renew Extend?
This rule is also known as the "know Before You Owe" mortgage disclosure rule and is part of our "Know Before You Owe" mortgage initiative.
What is TRID - Tila Respa Integrated Disclosure Rule?
Substantial Customer Injury is generally known to mean this?
What is monetary harm?
On March 25, 2019, the Utah legislature passed H.B. 378 which created this for companies providing "innovative financial products or services" in the State.
What is a fintech (or blockchain technology) "sandbox" program?
This event allows you to reset tolerances.
What is Changed Circumstance?
This form is required to document whether a property is in or out of a Special Flood Hazard Area.
What is a Standard Flood Hazard Determination Form?
A defining feature of these is that they are generally not issued by any central authority, rendering them thoroughly immune to government interference or manipulation.
What are cryptocurrencies?
The four P's represent these.
What are Prominence, Presentation, Placement, Proximity?
According to FinCEN, cryptocurrency should be treated as this, which is different from the IRS which considers cryptocurrency as property.
What is money (cash or currency also acceptable)?
This is required when the Closing Disclosure is out of tolerance.
What is Cure?
The two typos of Flood Zones that require flood insurance to be purchased.
What are Zones A & V?
The most common method used to breach the digital security of organizations.
What is Social Engineering?
The CFPBs Clearly and Prominently standard is defined here.
What is "nowhere" OR " What is it isn't defined anywhere?
Fed Chairman Jerome Powell has said this when he compared cryptocurrency deposits to money market or bank deposits.
What is "Same activity, same regulation"?
These 6 items trigger a TRID application.
What is...
1. Name
2. Income
3. Social Security Number (to obtain a credit report)
4. Property Address
5. Property Value Estimate
6. Loan amount
This Act required banks to escrow flood insurance premiums on home loans.
What is the Biggert-Waters Act?
A Ransomeware attack that encrypted3800 City of Atlanta computers demanded 6 of these digital items to unfreeze them.
What is Bitcoin?
One component that is a DECEPTIVE practice.
1. The Practice Misleads or is Likely to Mislead a customer? OR
2. The customer's interpretation is reasonable? OR
3. What is The Deception is Material?
According to a July 22, 2020 news release issued by the OCC, federally chartered banks and thrifts may do this in connection with cryptocurrency.
What is provide custody services for crypto assets?