NMLS Safe Test Mortgage Licensing Practice Exam Questions and Answers (Graded A) NMLS 20 Hour SAFE Test Prep (Answered) NMLS SAFE EXAM NMLS safe test (solved) NMLs Safe test Questions and Answers NMLS SAFE Exam 2022/2023 QA NMLS SAFE Test Questions with 100% correct Answers
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Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - ANSWER-TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - A...
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Add to cartWhich federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - ANSWER-TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - A...
The Mortgage Lending Industry - ANSWER-Segment 1 Which one of the following is NOT an alternative term used to refer to a savings and loan institution? -Mutual savings bank -Thrift institution -Mortgage banker -Savings and loan association - ANSWER-Mortgage banker A non-institutional lende...
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Add to cartThe Mortgage Lending Industry - ANSWER-Segment 1 Which one of the following is NOT an alternative term used to refer to a savings and loan institution? -Mutual savings bank -Thrift institution -Mortgage banker -Savings and loan association - ANSWER-Mortgage banker A non-institutional lende...
Primary Mortgage Market - ANSWER-Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan - ANSWER-When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C....
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Add to cartPrimary Mortgage Market - ANSWER-Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan - ANSWER-When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C....
What type of MLO must be licensed? A. an MLO of a savings and loan B. An MLO of a commercial bank C. Building and Loan Association MLO D. An MLO of a non-depository firm that arranges mortgages for clieents - ANSWER-D What is the difference between mortgage lenders and brokers? - ANSWER-Mortg...
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Add to cartWhat type of MLO must be licensed? A. an MLO of a savings and loan B. An MLO of a commercial bank C. Building and Loan Association MLO D. An MLO of a non-depository firm that arranges mortgages for clieents - ANSWER-D What is the difference between mortgage lenders and brokers? - ANSWER-Mortg...
Which of the following practices would appear to violate RESPA Section 8? A) A disclosed payment to an affiliates B)A lender requiring a borrower to pay for their legal representation at closing C)A real estate agent with a brother in the mortgage business refers her customers to her brother. Sh...
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Add to cartWhich of the following practices would appear to violate RESPA Section 8? A) A disclosed payment to an affiliates B)A lender requiring a borrower to pay for their legal representation at closing C)A real estate agent with a brother in the mortgage business refers her customers to her brother. Sh...
RESPA - ANSWER-Real Estate Settlement Procedures Act; Allows borrowers to receive pertinent and timely disclosure regarding the nature and costs of the real estate settlement (closing) process; Enacted in 1974, the law was originally proposed to add more transparency to costs associated with certain...
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Add to cartRESPA - ANSWER-Real Estate Settlement Procedures Act; Allows borrowers to receive pertinent and timely disclosure regarding the nature and costs of the real estate settlement (closing) process; Enacted in 1974, the law was originally proposed to add more transparency to costs associated with certain...
CFPB - ANSWER-Consumer Financial Protection Bureau: Part of the Dodd-Frank Act passed in 2010. It is focused on one goal: watching out for American consumers in the market for consumer financial products and services. This includes ensuring that consumers get the information they need to make the fi...
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Add to cartCFPB - ANSWER-Consumer Financial Protection Bureau: Part of the Dodd-Frank Act passed in 2010. It is focused on one goal: watching out for American consumers in the market for consumer financial products and services. This includes ensuring that consumers get the information they need to make the fi...
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