Mortgage - Lending Regulations from A-Z

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To all our applicants we must be accessible. Apply in-person, over the phone, or online; we're flexible!

This regulation is important, I must say! It's the _______________________ or the ADA!

We must be aware that we are not practicing discrimination. Just because a member has come from another nation. Overt ___________, _________ treatment, and impact are always taboo. Be neutral like Switzerland, and you’ll make it through.

Are you pregnant? Is that one child or two? How you afford daycare I haven't a clue! Is this a violation? – well, let me see. Why yes, it is, it’s violating ______________.

But what if someone receives a counter-offer or is denied? Then an ___________________ to the member must be supplied.

Up to 3 reasons for the decision is in detail dislosed, An explination of their credit situation is also enclosed.

Identity theft, as we know, is sadly on the rise, What can we do about it? Everyone cries. You can add a fraud statement to your credit report. To stop any losses, which is of much import. ________ your credit is also permitted.

To allow access and thaw it, a PIN number must be submitted. What wonderful reg allows this to take place? The _______, it’s there just in case.

To pull credit we first need a permissible cause, make sure you tak the time to stop and pause, to inform your member that their score this will impact. For this they can thank the _________________________.

Members must also recieve their credit score in writing, And can contact the bureaus if inaccurate information they are fighting.

Discrimination when it came to housing was common back in the day, But the _____________________ was introduced to blow that away.

It made the practice of redlining illegal in the complete overhaul, And also ensures equal access to home loans for one and for all!

All of this information is protected by the ________________________!! Our vendors also agree this information they will not sell, And annually in writing to our members we must tell.

To succeed in mortgage lending you have the potential, So long as you keep our members' personal information confidential. We have access to their social, credit, and income, that's a fact.

About everyone's gender, race, and ethnicity you must ask Our borrowers have the right to refuse to complete that task. The reg applies when the collateral is the member's own home, to spot discriminatory patterns of lending, which we do not condone.

HMDA is required on complete _________ applications regardless of decision. It has nothing to do with the right of recission.

Having fun with all these acronyms? The Mortgage Department may have a few! Know-Before-You -Owe or _____, Makes sure that you have two!

Making sure that disclosures are sent on time while being honest and fair, This was born to protect our members and for them to know that we care.

It states we must collect information from an SVID, to make sure you are you and me is me. We also need to verify if you’re on the ______ list. To ensure you are not a known terrorist.

We have some questions that we have to ask. I hope you’re feeling up to the task. The Patriot Act was implemented in 2003, Which required us to create our own CIP.

So, with all that is on there, you should never be late. And whether you get mail delivered or go to the Post Office on your Vespa, We are required to provide your loan details to be compliant with _______.

You get a separte statement for your Real Estate Loans, That breaks down the information on properties you own. It shows your payments, late fees, balance, and due date,

Hey you want a Mortgage, there's a script I must read, Here's my NMLS number, let's find out what you need.

I've been fingerprinted and checked out by the FBI, I am a licensed professional and cannot tell a lie. The goal is to protect our members and avoid an impact. The name of this reg is known as the _______.

Enacted in 1974, and implemented by Regulation B, If you violate ________ Be ready to face the CFPB!

To go with HMDA, there is another Act. It makes sure we do not discriminate based on 8 specific facts.

In order for us to call you Outbound, You must opt-in in writing for loans that will astound.

Without this, we can't reach out with promotions today, This is regulated by the _______.

______ is a Reg we must talk about you see, It's main focus is all about transparency.

There should be no information or fees that are hidden, Violating this regulation is strictly forbidden!

Disclosures, disputes as well as the right to recission, Giving mortgage applicants 3 business days to change their decision.

This reg gives this right to borrowers like you and me, It's Truth in ________ also known as Regulation __!

The right to rescind is your right, IT IS TRUE! Put it in writing, and then we can do!

And fees that you paid, reimburse you we must, All of these things we will have discussed.