Suspicious Activity Reporting requirements are found in this Act.
What is the Bank Secrecy Act.
100
The 3 C's of underwriting
What is Collateral, Capacity and Character (Credit)
100
Regulation X is this Act.
What is the Real Estate Settlement Procedures Act.
100
FHA's DTI guideline for manually underwritten loans.
What is 31/43
200
The acronym QM stands for this.
What is Qualified Mortgage
200
An AML program's main objective is to prevent this illegal activity.
What is money laundering.
200
Fannie Mae guidelines specify this as a recommended maximum gross adjustment on appraisals comps.
What is 25%.
200
Regulation Z is this Act.
What is Truth-in-Lending Act.
200
FNMA's recommended DTI per guidelines.
What is 28/36.
300
A High Cost Home Loan is found in this section of TILA.
What is Section 32
300
The process of maintaining procedures for a customer identification program is in compliance with this regulation.
What is Patriot Act.
300
"Vesting "includes these 2 items.
What is ownership and interest in a property.
300
Regulation B is this Act.
What is The Equal Credit Opportunity Act.
300
VA's recommended back end (total) ratio per guidelines.
What is 41%
400
Section 35 of TILA contains the requirements for these type of loans.
What is a higher priced mortgage loan (HPML).
400
The acronym SDN stands for this.
What is Specially Designated National
400
The term the describes a condition in the financing instrument which allows the lender to declare all sums owed to the lender due an payable in the case of delinquency.
What is an Acceleration Clause
400
Regulation C is this Act.
What is Home Mortgage Disclosure Act.
400
The number of days to cure a HUD1 tolerance violation per RESPA.
What is 30.
500
Prohibitions against kickbacks and referral fees are found in this section of RESPA.
What is section 8.
500
Non-compliance with an AML program can result in fines up to this amount.
What is $100,000
500
The term that describes the requirement that a lender must release all rights to a property once they have been paid in full and all terms of the mortgage have been met.
What is a Defeasance Clause
500
Regulation V is this Act.
What is the Fair Credit Reporting Act.
500
The number of days to issue a NOAA after a loan denial.