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8 Cards in this Set
- Front
- Back
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Federal Reserve system (fed) |
To maintain a sound credit condition thus promoting a sound economy |
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Primary market |
Where the buyer meets the bank |
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Mortgage brokers |
Brings together borrower (mortgagor) and the lender (mortgagee) like real estate brokers |
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Mortgage bankers |
Originate loans with own money or money belonging to insurance companies, pension funds or individuals |
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Reg z |
Does not apply to commercial real estate, 3 day right of recession, finance charges, annual percentage rate, the amount financed and total payments |
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Advertising Reg Z |
Does not require lenders to advertise credit terms |
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Respa requirements |
Special info book, good faith estimate, HUD 1 closing statement, no kickbacks, reserve limits |
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Equal opportunity act |
Race, color, religion, national origin, sex, martial status, age, income (age does not belong to fair housing only ECOA) |
