What You'll Learn

• Define requirements for notifying consumers of action taken on their loan applications
• Recognize common compliance failures in completion of the Loan Estimate and Closing Disclosure
• Recall significant compliance standards under TILA, including disclosure requirements, lending standards for HPMLs, and more
• Describe RESPA’s prohibitions against improper handling of fees and charges
• Recall the key context for and scope of the Equal Credit Opportunity Act and the Fair Housing Act
• Discuss various forms of overt and implicit discrimination that occur in the marketplace
• Recognize contemporary fair lending measures in the marketplace
• Recall how companies can attempt to correct internal fair lending issues, and the consequences of violating federal fair lending laws
• Identify the benefits and drawbacks of common nontraditional products for qualified borrowers
• Define non-qualified mortgages and the standards to which they are held
• Describe the key features, risks, and rewards of no-cost loans, ARMs, and 40-year mortgages
• Recall the key measures of federal anti-money laundering laws and regulations
• Recognize several contemporary money laundering and mortgage fraud tactics
• Discuss the connections between digital currency, money laundering, and mortgages