USC 11% Flashcards
1
Q
Who oversees and enforces the regulations of the Dodd-Frank Act?
A
THE CFPB
2
Q
What is the CSBS?
A
The Conference of State Bank Supervisors is a national organization.
Founded in 1902 to further advanced the ideas and professionalism for state banking departments it acts as a single voice to Congress for state banks and serves as a liaison between state and federal regulators.
3
Q
What is AARMR
A
The American Association of residential mortgage regulators was established to promote the exchange of information and knowledge between the states regarding residential mortgage, lending servicing and brokerage
4
Q
Who is required to obtain a license from the NMLS?
A
- Anyone who takes a residential mortgage loan application
- Processors and underwriters working as independent contractors
- Anybody who publicly represents the ability to negotiate rates and terms
- Offers or negotiates terms of residential mortgage in exchange for compensation or gain
- Mortgage brokers
5
Q
Who enforces the Fair Housing Act?
A
The Department of Justice
