12 CFR 1024.2 - Definitions
| Cite as | 12 CFR 1024.2 |
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90 practice notes
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Truth in Lending (Regulation Z)
...after receipt. (3) For purposes of this paragraph (c), the terms ``servicer'' and ``servicing'' have the same meanings as provided in 12 CFR 1024.2(b), as (d) Prohibited payments to loan originators. (1) Payments based on transaction terms or conditions. (i) In connection with a consumer cr......
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Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act (Regulation Z)
...of the value of the property, the mortgage loan amount sought, and any other information deemed necessary by the loan originator.'' 12 CFR 1024.2(b). This definition, adopted as part of HUD's 2008 RESPA Final Rule, was intended to ensure that consumers received a RESPA GFE containing reliab......
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Appraisals for Higher-Priced Mortgage Loans
...12 CFR 1026.42(b)(1) and (2); Board 12 CFR 226.42(b)(1) and (2). \130\ See id.; see also 12 U.S.C. 2602(3) and 24 CFR 1024.2. \131\ 12 CFR 1024.2. --------------------------------------------------------------------------- Further, commenters indicated that consumers in transactions secured......
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Loan Originator Compensation Requirements Under the Truth in Lending Act (Regulation Z)
...however, a revised RESPA GFE may be provided reflecting an increase in settlement charges (e.g., for changed circumstances, defined in 12 CFR 1024.2(b), that result in increased settlement charges or a change in the borrower's eligibility for the specific loan terms identified in the RESPA ......
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63 cases
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Jackson v. Bank of Am., N.A., No. 16-16685
...January 10, 2014. The Jacksons' mortgage loan in the instant matter is a "federally related mortgage loan" as said term is defined by 12 C.F.R. § 1024.2(b). The Defendants are subject to the aforesaid Regulations and do not qualify for the exception for "small servicers" as defined in 12C.F......
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Coppola v. Wells Fargo Bank, N.A. (In re Coppola), Case No.: 17-14944 VFP
...specifically.Wells Fargo's argument is based on the definition of servicing in RESPA in 12 U.S.C. § 2605(i)(3) and Regulation X in 12 C.F.R. § 1024.2(b). Specifically, 12 U.S.C. § 2605(i)(3) defines servicing as "receiving any scheduled periodic payments from a borrower pursuant to the term......
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Pickens v. JP Morgan Chase Bank, N.A., CIVIL CASE NO.: 5:14-CV-00166-RLV-DSC
..."Settlement service[s]" are defined as "any service[s] provided in connection with a prospective or actual settlement . . . ." See 12 C.F.R. § 1024.2 (defining "settlement service"). "Settlement" is defined as "the process of executing legally binding documents regarding a lien on property ......
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Washington v. Green Tree Servicing LLC, Case No. 1:15-cv-354
...X. (See Doc. 54 at 7-9; Doc. 63 at 1-2, 5-6).Page 8 Neither RESPA nor Regulation X define the term "borrower." See 12 U.S.C. § 2602; 12 C.F.R. §§ 1024.2, 1024.31. In arguing that plaintiff does not have standing as a borrower, defendant relies on this Court's decision in Cooper. In Cooper, ......
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5 firm's commentaries
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CFPB Ability-to-Repay and Qualified Mortgage Standards under the Truth in Lending Act (Regulation Z) – Full Text Copy
...submission of a borrower’s financial information in anticipation of a credit decision relating to a federally related mortgage loan. See 12 CFR 1024.2(b). Comment 19(a)(1)(i)-3 clarifies that an application is received when it reaches the creditor in any of the ways applications are normall......
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Recent Changes to the Law Governing Qualified Written Requests
...where the lender is regulated by the federal government or the lender’s deposit accounts are insured by a federal agency. See 12 C.F.R. 1024.2(b). What Actions Are Required upon Receipt of a Upon receipt of a QWR, a mortgage servicer is required to take certain steps, each of which is subje......
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RESPA Amendment Changes Rules, Deadlines Regarding Errors Communications
...78 F.R. 10695. 3 12 C.F.R. § 1024, Supp. I. 4 See, former 24 C.F.R. § 3500.21(e). 5 See, 12 C.F.R. §§ 1024.35 and 1024.36. 6 See, 12 C.F.R. §§ 1024.2 and 1024.5(b). The new regulations do not apply to home equity lines of credit or open-end lines of 7 12 C.F.R. §1024.35(a). 8 Id. 9 12 C.F.R......
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CFPB Withdraws Former Marketing Services Agreement Guidance; Issues New Frequently Asked Questions Regarding RESPA Section 8 and MSAs
...and gifts and promotional activities. The FAQs generally cite to and reiterate specific provisions of RESPA and its related regulations (12 CFR 1024 et seq.). The FAQs then offer some specific comments which help define certain of these Citing 12 USC § 2602(3) and 12 CFR § 1024.2(b), the FA......
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1 provisions
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Chapter 216, HB 1402 – Revisor's Bill
...use", which is dependent on the definition found in the Code of Federal Regulations. (See Pub.L. 111-203, 76 FR 78977, 79 FR 34224, and 12 CFR 1024.2.) 10-16-102 16 Corrects the name of a federal act. (See Pub.L. (22)(a) and (29) 111-148.) 10-16-1009 (1)(k) 17 Corrects an error in SB04-105 ......