NMLS LLO Exam Prep > Regulations > Flashcards

Regulations Flashcards

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1
Q

CFPB

A

Consumer Financial Protection Bureau - Promote financial stability through accountability and transparency. Dodd Frank Act and Consumer Financial Protection Act. Any Govn entity dealing with finance or banking report to CFPB

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2
Q

Mortgage

A

Written instrument utilizing real property to secure repayment of debt

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3
Q

Primary Market

A

Borrowers & Lenders come together to negotiate terms for mortgages.

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4
Q

Mortgage Banker

A

Indiviudal/Entity

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