My Cards Flashcards by Ed Collins | Brainscape

Q

What are RESPA’S regulation know as?

A

Regulation X

Reg X

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Q

What are the two purposes does RESPA have?

A

Allow consumers to shop for settlement services.

Protects consumers from excessive settlement cost.

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Q

What is APR?

A

APR

Annual Percentage Rate

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Q

What is AIR

A

Adjustable Interest Rate

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Q

What is an ARM?

A

Adjustable Rate Mortgage

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Q

What is VOR?

A

Verification of Rent~

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Q

What is the CCPA?

A

Consumer Credit Protection ACT

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Q

What is ATR?

A

Ability to Repay

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Q

What is CFPB?

A

CFPB

Consumer Financial Protection Bureau

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Q

What is CLTV?

A

Combined Loan to Value

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Q

What is CRA?

A

CRA

Credit Reporting Agency

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Q

What is DTI?

A

DTI

Debt to Income

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Q

What is VOD?

A

VOD

Verification of Deposit

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Q

ECOA stands for?

A

ECOA

Equal Credit Opportunity ACT

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