David Saks: February 2014

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 2569

#2569

A federal law that prohibits lenders from making high cost predatory home equity loans is known as Equal Credit Opportunity Act or the ECOA.

Is this fact true or false ?

Please take your time. The solution is below the wildlife photo.

wildlife

A. False

The federal law that prohibits lenders from making hgh-cost predatory home equity loans is known as the Home Ownership and Equity Protection Act, or HOEPA.




David Saks



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Comment balloon 0 commentsDavid Saks • February 10 2014 05:52AM
Real Estate Practice : Lesson 2569
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#2569 A federal law that prohibits lenders from making high cost predatory home equity loans is known as Equal Credit Opportunity Act or the ECOA. Is this fact true or false Please take your time. The solution is below the… more
Real Estate Practice : Lesson 2568
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#2568 Loan flipping is prohibited under the Real Estate Settlement Procedures Act. Is this fact true or false Please take your time the solution is posted below the wildlife photo. A. False The Real Estate… more
Real Estate Practice : Lesson 2567
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#2567 When we talk about an impound waiver we're discussing a practice that involves charging points or processing fees that are out of the ordinary. Is this fact true or false Please take your time. The solution is posted below… more
Real Estate Practice : Lesson 2566
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#2566 Steering involves charging a borrower processing fees or points to close that are higher than usual because the lender is steering the borrower away from a conventional loan. Is this fact true or false Please take your… more
Real Estate Practice : Lesson 2565
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#2565 A loan secured by a fleet of tractors to purchase additional farm equipment would be covered under the Truth In Lending Act. Is this fact true or false Please take your time. The solution is posted below the wildlife photo… more
Real Estate Practice : Lesson 2564
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#2564 Property flipping will involve the charging of processing fees that are not necessary for the services provided by the lender. Is this true or false Please take your time. The solution is posted below the wildlife photo. &… more
Real Estate Practice : Lesson 2563
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#2563 Fee Packing is a predatory lending practice which imposes the practice of charging points and fees for processing a loan that are out of the ordinary and higher than normally charged. These are fees that have no reason to be… more
Real Estate Practice : Lesson 2562
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#2562 An unsecured loan for 50 thousand dollars would be covered by the Truth In Lending Act. Is this fact true or false Please take your time. The solution is below the wildlife photo. A. False The Truth In… more
Real Estate Practice : Lesson 2561
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#2561 Another purpose of the HOme Mortgage Disclosure Act is to insure that a person, whose income is derived from public assistance, is not discriminated against. Is this fact true or false Please take your time. The… more
OBAMA ADMINISTRATION RELEASES JANUARY HOUSING SCORECARD
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HUD No. 14-012 HUD Public Affairs(202) 708-0980 Treasury Public Affairs(202) 622-2960 FOR RELEASE Friday February 7, 2014 OBAMA ADMINISTRATION RELEASES JANUARY HOUSING SCORECARD &… more