Mortgage Origination Under RESPA and Reg B Flashcards
1
Q
What loans are subject to RESPA?
A
all federally related mortgage loans
2
Q
Which loans are generally subject to RESPA, but not the disclosure requirements?
A
Residential real property upon which a 1-5 family structure or a manufactured home is located or is to be constructed, includes condos, coops
HELOCs and reverse mortgages
3
Q
When can Reg Z application disclosures be used instead of the GFE?
A
closed end real estate loans
4
Q
What is RESPA’s kickbacks rule?
A
prohibition against kick backs and unearned fees
