Federal Mortgage Law · 24% of the SAFE exameasy
Correct answer: Unfair, Deceptive, or Abusive Acts or Practices, enforced by CFPB
UDAAP (Unfair, Deceptive, or Abusive Acts or Practices) is prohibited under the Dodd-Frank Act and enforced by the CFPB. "Unfair" causes substantial injury; "Deceptive" misleads consumers; "Abusive" exploits consumers' lack of understanding.
CRAM ARCADE has the full NMLS question bank, timed practice exams, focus drills on your weakest category, flashcards and spaced repetition. No credit card.
Start studying free