|§ 1007.101||Authority, purpose, and scope|
|§ 1007.103||Registration of mortgage loan originators|
|§ 1007.104||Policies and procedures|
|§ 1007.105||Use of unique identifier|
Terms Used In CFR > Title 12 > Chapter X > Part 1007
- deed: The legal instrument used to transfer title in real property from one person to another.
- federal reserve system: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- fraud: Intentional deception resulting in injury to another.
- jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- lien: A claim against real or personal property in satisfaction of a debt.
- mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- national bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- national credit union administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
- oversight: Committee review of the activities of a Federal agency or program.
- settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- statute: A law passed by a legislature.
- truth in lending act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on Source: OCC