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HDMA
Flood
TRID
Truth In Lending
Miscellaneous
100
This is the acronym for the Home Disclosure Mortgage Act.
What is HMDA?
100
This is the acronym for the National Flood Insurance Program.
What is NFIP?
100
This disclosure needs to be provided to the customer at least three business days after receipt of a consumer, real-estate secured loan application
What is the loan estimate?
100
Truth or False. The Truth In Lending Act covers only business loan requests.
What is False? It covers credit primarily for personal, family and household purposes.
100
This is the IFB's Chief Credit Officer.
Who is Kathleen Lewis?
200
These are the three purposes to be reported as HMDA loans.
What is a Home Purchase, Home Refinance, or Home Improvement?
200
This disclosure must be sent to the customer and signed by them as soon as it is discovered that the collateral securing a loan is found to be in a flood zone
What is the notice of special flood hazards and availability of Federal disaster relief assistance?
200
This is the date that the loan estimate would be considered received If a customer applies for a consumer, real estated secured loan, on a Thursday and the disclosure is mailed on a Friday
What is Wednesday?
200
This is the earliest date that a loan can fund if the customer who has the right to rescind closes on a Friday
What is Wednesday? Customer closes on Friday. Saturday is the first business day. Monday is the second business day. Tuesday is the third business day. Fund on Wednesday
200
This regulation requires that within 30 days of application, we approve, deny, or memo the file as why it took longer than 30 days to decision a loan
What is Regulation B (ECOA)?
300
Beginning January 1 of this year, the HMDA LAR will go from 27 fields to 52 fields.
What is 2018?
300
This is the amount of the fine levied by the regulator per file for flood violations with no maximum amount
What is $2,000?
300
The cost of credit expressed as a yearly rate and is based on the finance charge is this.
What is APR?
300
This is the latest date that HELOC disclosures must be sent if the bank receives a HELOC application on a Friday.
What is Wednesday? Saturday is not a business day for this disclosure. Monday is day one. Tuesday is day Two. Wednesday is day three.
300
Under BSA, it is required that we document this when someone applies for a loan or deposit product at Idaho First Bank
What is the customer's identity following the bank's Customer Identification Procedures (CIP)?
400
This is the order of importance for a multi-purpose loan when determining the purpose reported.
What is a Home Purchase, Home Improvement, and Home Refinance?
400
The lesser amount of these three items determines the minimum flood insurance coverage required on a structure securing a loan in a flood zone
What is the amount of the loan, replacement cost of the structure, or $250,000 (consumer) or $500,000 (commercial)?
400
If the customer is not given the option to shop around for these fees they must be disclosed 100% correctly on both the loan estimate and the closing disclosure
What is a zero tolerance fee?
400
These disclosures must be given at Idaho First Bank when a customer applies for a student loan?
What is an Adverse Action? We do not offer student loans at Idaho First Bank.
400
Credit requests (not secured by real property or a dwelling) over this amount are exempt from Regulation Z.
What is $54,600?
500
The collection of government monitoring information is prohibited under this regulation unless it is required under HMDA or used in a bank's self monitoring program.
What is Regulation B (ECOA)?
500
These are the only two acceptable forms of proof of insurance required prior to closing on a loan that is secured by a structure located in a flood zone
What is an issued flood policy (Declarations Policy) or an application for flood insurance with proof of payment dated as of the closing date or earlier?
500
When referring to initial and closing disclosures, this is the difference between a "general business day" and a "Specific business day".
What is Saturday? Loan estimates must be delivered or placed in the mail within 3 business days of application. (You don't count Saturday as a business day for the loan estimate) The closing disclosure must be delivered three business days prior to close. If it is delivered in person, you may close 3 business days later. (You do count Saturday as a business day for the closing disclosure) If it is mailed, it is received three business days later, and then you can close 3 business days after that.
500
There is no restitution for these two types of Reg Z violations, even if you pay off the loan and do it over
What are rescission and 3 day disclosure violations?
500
If credit is pulled in connection with a loan application that is subsequently denied because of the credit report, these five pieces of credit information must be reported on the adverse action notice.
What are the consumer's credit score, the date of the credit score, range of credit scores available, the key factors in the decision and credit reporting agency?