S.A.F.E Mortgage Loan Originator Exam Study Guide
2023 with complete solution
GLBA
Gramm-Leah-Bliley Act
FTC
Federal Trade Commission
FCC
Federal Communications Commission
NPI
Non-public Personal Information
Consumer
Individual who obtains financial services for personal use
Customer
Continuing relationship with a financial institute
EBR
Established Business Relationship
FACTA
Fair Credit Reporting Act (Original FCRA)
FHA
Fair Housing Act & Federal Housing Administration
ECOA
Equal Credit Opportunity
HVCC
Home Valuation Code of Conduct
HMDA
Home Mortgage Disclosure Act
CRA
Consumer Reporting Agency
FDIC
Federal Deposit Insurance Corporation
RESPA
Real Estate Settlement Procedure Act
TILA
Truth In Lending Act
FinCEN
Financial Crime Enforcement Network
MDIA
Mortgage Disclosure Improvement Act
DOJ
Department of Justice
OIG
Office of the Inspector General
SAR
Suspicious Activity Report
, GNMA
Government National Mortgage Associates (Ginnie Mae)
LTV
Loan to Value
FICO
Fair Isaac Corporation
HECM
Home Equity Conversion Mortgage (Reverse Mortgage)
Pre-Texting is what?
Fraudulently obtaining personal information
FTC implements what?
The DO NOT CALL registry
FCC Implements what?
The DO NOT FAX registry
Safe Guard is Implement by what Act?
GLBA
If a Consumer inquires about a product, the business relation ship is good for
how long?
90 Days or 3 months
If a Customer purchases a product, the business relationship is good for how
long?
18 Months
How long will a persons name remain on the DO NOT CALL list?
Forever
Red Flag Rules are implement by under what Act?
FACTA
RESPA is implemented by?
Regulation X
GFE's are required by?
RESPA
RESPA was implemented for what?
1) disclosure of costs. 2) eliminate kick backs. 3) Max escrow balance amounts. 4)
record of land title info.
Once application has been received,Initial disclosures including a GFE must be
delivered to the borrowers with in?
3 Business Days
Borrowers must be notified of Service Transfers how many days prior?
15 Days
Affiliated Business Relationship
Person who is in a position to refer business
Associate is
Spouse or Parent
TILA is part of?
Consumer Credit Protection Act
Trigger Terms require?
APR disclosure
2023 with complete solution
GLBA
Gramm-Leah-Bliley Act
FTC
Federal Trade Commission
FCC
Federal Communications Commission
NPI
Non-public Personal Information
Consumer
Individual who obtains financial services for personal use
Customer
Continuing relationship with a financial institute
EBR
Established Business Relationship
FACTA
Fair Credit Reporting Act (Original FCRA)
FHA
Fair Housing Act & Federal Housing Administration
ECOA
Equal Credit Opportunity
HVCC
Home Valuation Code of Conduct
HMDA
Home Mortgage Disclosure Act
CRA
Consumer Reporting Agency
FDIC
Federal Deposit Insurance Corporation
RESPA
Real Estate Settlement Procedure Act
TILA
Truth In Lending Act
FinCEN
Financial Crime Enforcement Network
MDIA
Mortgage Disclosure Improvement Act
DOJ
Department of Justice
OIG
Office of the Inspector General
SAR
Suspicious Activity Report
, GNMA
Government National Mortgage Associates (Ginnie Mae)
LTV
Loan to Value
FICO
Fair Isaac Corporation
HECM
Home Equity Conversion Mortgage (Reverse Mortgage)
Pre-Texting is what?
Fraudulently obtaining personal information
FTC implements what?
The DO NOT CALL registry
FCC Implements what?
The DO NOT FAX registry
Safe Guard is Implement by what Act?
GLBA
If a Consumer inquires about a product, the business relation ship is good for
how long?
90 Days or 3 months
If a Customer purchases a product, the business relationship is good for how
long?
18 Months
How long will a persons name remain on the DO NOT CALL list?
Forever
Red Flag Rules are implement by under what Act?
FACTA
RESPA is implemented by?
Regulation X
GFE's are required by?
RESPA
RESPA was implemented for what?
1) disclosure of costs. 2) eliminate kick backs. 3) Max escrow balance amounts. 4)
record of land title info.
Once application has been received,Initial disclosures including a GFE must be
delivered to the borrowers with in?
3 Business Days
Borrowers must be notified of Service Transfers how many days prior?
15 Days
Affiliated Business Relationship
Person who is in a position to refer business
Associate is
Spouse or Parent
TILA is part of?
Consumer Credit Protection Act
Trigger Terms require?
APR disclosure
