Quiz for B2B: Escrow Across RESPA, HPML, Flood, and more
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Question 1 of 10
1. Question
- HPML regulations require escrow accounts for which type of mortgage loans?
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Question 2 of 10
2. Question
2. Under flood regulation, the bank must refund a surplus of $50 or more?
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Question 3 of 10
3. Question
3. If the borrower has $1 left in their escrow account after the loan is paid off, the bank does not have to disburse it to the customer?
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Question 4 of 10
4. Question
4. When is an escrow account required by regulation?
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Question 5 of 10
5. Question
5. When is an escrow account required by regulation?
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Question 6 of 10
6. Question
6. When is the bank required to send an annual escrow statement?
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Question 7 of 10
7. Question
7. What is not required in the annual escrow account statement?
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Question 8 of 10
8. Question
8. What is the effect of a short-year escrow statement?
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Question 9 of 10
9. Question
9. How much is the cushion in an escrow account during the life of the escrow account?
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Question 10 of 10
10. Question
10. What accounting method must banks use when conducting an escrow account analysis?