Nationwide Multistate Licensing System NMLS · Flashcards
NATIONWIDE MULTISTATE LICENSING SYSTEM NMLS · FLASHCARDS
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QUESTION
Which title insurance policy protects the buyer's equity and ownership rights?
QUESTION
Which RESPA concept allows an affiliated business arrangement if conditions are met?
QUESTION
What three AfBA conditions must be met to comply with RESPA?
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ANSWER
Disclosure, no required use, only return on ownership interest. These AfBA conditions under RESPA ensure consumer awareness, freedom of choice, and prevention of disguised referral fees.