NMLS SAFE Test with answers 100% solved 2023 Exam (elaborations) NMLS S.A.F.E Exam Practice Questions with complete solution 2023 Exam (elaborations) NMLS SAFE ACT MLO Exam - Ethics and Fraud Question and answers rated A+ 2023 Exam (elaborations) NMLS SAFE EXAM KEY WORDS Question and answer 1...
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NMLS SAFE EXAM with correct answers 2023Primary Mortgage Market Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan 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 ...
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Add to cartNMLS SAFE EXAM with correct answers 2023Primary Mortgage Market Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan 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 ...
NMLS Question and answers rated A+Acceleration Clause Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Says you must repay your mortgage if you sell your home to a new owner (loan is ...
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Add to cartNMLS Question and answers rated A+Acceleration Clause Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Says you must repay your mortgage if you sell your home to a new owner (loan is ...
NMLS Practice Test Hard Questions with answers 100% solved 2023A discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the interest rate on the mortgage loan B.) A mortgage broker at the time of application to obtain a favorable rate C.) The seller as part...
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Add to cartNMLS Practice Test Hard Questions with answers 100% solved 2023A discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the interest rate on the mortgage loan B.) A mortgage broker at the time of application to obtain a favorable rate C.) The seller as part...
NMLS SAFE EXAM 2022/2023 question already solved What does TILA stand for? Truth-In-Lending Act, Regulation Z What is a HELOC loan? a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? ... LTV stands for Loan to V...
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Add to cartNMLS SAFE EXAM 2022/2023 question already solved What does TILA stand for? Truth-In-Lending Act, Regulation Z What is a HELOC loan? a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? ... LTV stands for Loan to V...
NMLS Study Guide Question with complete solution 2023The purposes of RESPA are To help consumer become better shoppers for settlement (closing) services AND to eliminate kickbacks and referral fees that unnecessarily increase the costs of certain settlement services The origins of RESPA En...
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Add to cartNMLS Study Guide Question with complete solution 2023The purposes of RESPA are To help consumer become better shoppers for settlement (closing) services AND to eliminate kickbacks and referral fees that unnecessarily increase the costs of certain settlement services The origins of RESPA En...
MLO SAFE NMLS safe test practice questions with complete solution 2023Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. Predator...
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Add to cartMLO SAFE NMLS safe test practice questions with complete solution 2023Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. Predator...
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NMLS loan officer Question with complete solution 2023Uniform state test Regulation H Secure and a Fair Enforcement for mortgage licensing act of 2008 Require licensing for LO's HERA (housing and recovery act of 2008) Focused on Subprime lending practices NMLS Nationwide mo...
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Add to cartNMLS loan officer Question with complete solution 2023Uniform state test Regulation H Secure and a Fair Enforcement for mortgage licensing act of 2008 Require licensing for LO's HERA (housing and recovery act of 2008) Focused on Subprime lending practices NMLS Nationwide mo...
Mortgage NMLS Exam Question with correct answer 2023Annual Percentage Rate (APR) Consumer's true annual cost of borrowing funds according to the Federal Truth-in-Lending Act. Calculates an effective interest rate based on most of a loan's up-front fees and the stated annual interest rate. ...
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Add to cartMortgage NMLS Exam Question with correct answer 2023Annual Percentage Rate (APR) Consumer's true annual cost of borrowing funds according to the Federal Truth-in-Lending Act. Calculates an effective interest rate based on most of a loan's up-front fees and the stated annual interest rate. ...
NMLS PRACTICE QUESTIONS with complete solutions 2023which federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? FEDERAL RESERVE SYSTEM the clause in a mortgage that allows the lender to foreclose if the borrower defaults i...
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Add to cartNMLS PRACTICE QUESTIONS with complete solutions 2023which federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? FEDERAL RESERVE SYSTEM the clause in a mortgage that allows the lender to foreclose if the borrower defaults i...
NMLS Practice Test with correct answers 20231) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days •90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance cost of fu...
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Add to cartNMLS Practice Test with correct answers 20231) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days •90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance cost of fu...
Mortgage NMLS Exam with correct answers 2023Annual Percentage Rate (APR) Consumer's true annual cost of borrowing funds according to the Federal Truth-in-Lending Act. Calculates an effective interest rate based on most of a loan's up-front fees and the stated annual interest rate. Closing ...
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Add to cartMortgage NMLS Exam with correct answers 2023Annual Percentage Rate (APR) Consumer's true annual cost of borrowing funds according to the Federal Truth-in-Lending Act. Calculates an effective interest rate based on most of a loan's up-front fees and the stated annual interest rate. Closing ...
NMLS – RESPA Question with complete solution 2023Real Estate Settlement Procedures Act (RESPA) will be administered and enforced by what agency: Consumer Financial Protection Bureau Real Estate Settlement Procedures Act (RESPA) insures that consumers throughout the nation are provided with...
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Add to cartNMLS – RESPA Question with complete solution 2023Real Estate Settlement Procedures Act (RESPA) will be administered and enforced by what agency: Consumer Financial Protection Bureau Real Estate Settlement Procedures Act (RESPA) insures that consumers throughout the nation are provided with...
NMLS SAFE ACT MLO Exam - Federal Law Question with complete solution 2023If a borrow is on the DO NOT CALL LIST and makes an inquiry about doing business with you in regards to a loan, when does right to contact them expire? A. 1 month B. 2 months C. 3 months D. 4 months C. 3 months An est...
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Add to cartNMLS SAFE ACT MLO Exam - Federal Law Question with complete solution 2023If a borrow is on the DO NOT CALL LIST and makes an inquiry about doing business with you in regards to a loan, when does right to contact them expire? A. 1 month B. 2 months C. 3 months D. 4 months C. 3 months An est...
NMLS PRACTICE QUESTIONS with complete solution 2023which federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? FEDERAL RESERVE SYSTEM the clause in a mortgage that allows the lender to foreclose if the borrower defaults is...
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Add to cartNMLS PRACTICE QUESTIONS with complete solution 2023which federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? FEDERAL RESERVE SYSTEM the clause in a mortgage that allows the lender to foreclose if the borrower defaults is...
NMLS Vocabulary Question and answer rated A+Abusive Act Action that materially interferes with a consumer's ability to understand the product or service. Acceleration Clause (in a mortgage) Clause in a promissory note that gives a lender the right to declare the entire loan balance due imm...
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Add to cartNMLS Vocabulary Question and answer rated A+Abusive Act Action that materially interferes with a consumer's ability to understand the product or service. Acceleration Clause (in a mortgage) Clause in a promissory note that gives a lender the right to declare the entire loan balance due imm...
NMLS MLO Exam Question with answers already solved 2023What must a borrower do to avoid having late payments reported to a credit bureau? Pay within 30 days of due date Max penalty if a borrower is required to use a specific title company or settlement agent? 3 times the fee What s...
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Add to cartNMLS MLO Exam Question with answers already solved 2023What must a borrower do to avoid having late payments reported to a credit bureau? Pay within 30 days of due date Max penalty if a borrower is required to use a specific title company or settlement agent? 3 times the fee What s...
NMLS PRACTICE TEST 1 Question with complete solution 2023c) Caveat emptor 1. The law of agency defines whose interests the mortgage professional is required to safeguard. When the law of agency directs the mortgage professional's fiduciary duty towards the lender, the term ___________ applies. ...
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Add to cartNMLS PRACTICE TEST 1 Question with complete solution 2023c) Caveat emptor 1. The law of agency defines whose interests the mortgage professional is required to safeguard. When the law of agency directs the mortgage professional's fiduciary duty towards the lender, the term ___________ applies. ...
NMLS Laws and Regulations Question and answer already solved 2023CFPB Consumer Financial Protection Bureau What does the CFPB do? Regulates RESPA, TILA, ECOA, and HMDA FTC Federal Trade Commission What does the FTC do? Monitors Red Flag Rules RESPA Real Estate Settle...
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Add to cartNMLS Laws and Regulations Question and answer already solved 2023CFPB Consumer Financial Protection Bureau What does the CFPB do? Regulates RESPA, TILA, ECOA, and HMDA FTC Federal Trade Commission What does the FTC do? Monitors Red Flag Rules RESPA Real Estate Settle...
NMLS SAFE EXAM KEY WORDS Question and answer 100% solved 20235/1 Adjustable Rate Mortgage A 5/1 adjustable rate mortgage (ARM) or 5-year ARM is a mortgage loan where "5" is the number of years your initial interest rate will stay fixed. The "1" represents how often your interest rate will adju...
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Add to cartNMLS SAFE EXAM KEY WORDS Question and answer 100% solved 20235/1 Adjustable Rate Mortgage A 5/1 adjustable rate mortgage (ARM) or 5-year ARM is a mortgage loan where "5" is the number of years your initial interest rate will stay fixed. The "1" represents how often your interest rate will adju...
NMLS SAFE ACT MLO Exam - Ethics and Fraud Question and answers rated A+ 2023A lender provides a borrower with an initial amortization schedule for Private Mortgage Insurance (PMI) disclosure at loan closing for an adjustable-rate mortgage. The lender MUST also provide a written notice stating the ...
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Add to cartNMLS SAFE ACT MLO Exam - Ethics and Fraud Question and answers rated A+ 2023A lender provides a borrower with an initial amortization schedule for Private Mortgage Insurance (PMI) disclosure at loan closing for an adjustable-rate mortgage. The lender MUST also provide a written notice stating the ...
NMLS S.A.F.E Exam Practice Questions with complete solution 2023Enhancing protection and reducing fraud by directing states to adopt minimum uniform standards for the licensing and registration of residential mortgage loan originators was the purpose of the federal act known as the: a. S.A.F.E. A...
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Add to cartNMLS S.A.F.E Exam Practice Questions with complete solution 2023Enhancing protection and reducing fraud by directing states to adopt minimum uniform standards for the licensing and registration of residential mortgage loan originators was the purpose of the federal act known as the: a. S.A.F.E. A...
NMLS SAFE Test with answers 100% solved 2023CFPB 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 ...
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Add to cartNMLS SAFE Test with answers 100% solved 2023CFPB 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 ...
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