QUESTION: 33

How many days must a borrower's mortgage loan be delinquent before the mortgage company is permitted to submit the first notice filing in the foreclosure process?

30 days
60 days
90 days
120 days

Answer(s): D

Reference:

https://upsolve.org/learn/mortgage-companies-120-day-rule/

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QUESTION: 34

Under the TILA-RESPA Integrated Disclosure rule (TRID), what is the minimum time period that must pass between a borrower's receipt of a Loan Estimate and the closing of a mortgage loan?

7 business days
15 business days
30 business days
45 calendar days

Answer(s): A

Reference:

https://www.bankersonline.com/tools/148863

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QUESTION: 35

Which of the following loan types is regulated by the Home Ownership and Equity Protection Act (HOEPA)?

Refinance
Construction
Reverse mortgage
USDA Rural Development

Answer(s): A

Reference:

https://www.askmoney.com/loans-mortgages/what-are-hoepa-loans

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QUESTION: 36

The Equal Credit Opportunity Act (ECOA) defines the term "elderly" as anyone:

60 years of age or older.
62 years of age or older.
65 years of age or older.
70 years of age or older.

Answer(s): B

Reference:

https://www.consumerfinance.gov/rules-policy/regulations/1002/6/

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QUESTION: 33

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QUESTION: 36

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