20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW Exam With Accurate Solutions,Nmls exam 2024 study Guide (Federal Mortgage laws),Loan Originator Class Questions & Answersmortgage 125 Question Comprehensive Practice National Exam Answered & Graded,Nmls exam 2024 study Guide (Federa...
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Mortgage loan originators who make cold calls must comply with the requirements of the National Do-Not-Call rules. The loan originator needs to update any download of the registry at least every: 31 days 18 Months 7 days Year - Correct Answer 31 Days The appraisal approach that is used as ...
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Add to cartMortgage loan originators who make cold calls must comply with the requirements of the National Do-Not-Call rules. The loan originator needs to update any download of the registry at least every: 31 days 18 Months 7 days Year - Correct Answer 31 Days The appraisal approach that is used as ...
borrower wants a Cash Out refinance for 80% LTV on a house that appraises for $250,000. The borrower has a first mortgage of $87,000 and a second for $25,000. Closing costs will equal $3,000. How much cash is available for the borrower to receive? Your Answer $30,000 $85,000 $115,000 ...
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Add to cartborrower wants a Cash Out refinance for 80% LTV on a house that appraises for $250,000. The borrower has a first mortgage of $87,000 and a second for $25,000. Closing costs will equal $3,000. How much cash is available for the borrower to receive? Your Answer $30,000 $85,000 $115,000 ...
AARMR - Correct Answer American Association of Residential Mortgage Regulators AML - Correct Answer Anti-Money Laundering APR - Correct Answer Annual Percentage Rate ARM - Correct Answer Adjustable Rate Mortgage BSA - Correct Answer Bank Secrecy Act CC&R - Correct Answer covenan...
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Add to cartAARMR - Correct Answer American Association of Residential Mortgage Regulators AML - Correct Answer Anti-Money Laundering APR - Correct Answer Annual Percentage Rate ARM - Correct Answer Adjustable Rate Mortgage BSA - Correct Answer Bank Secrecy Act CC&R - Correct Answer covenan...
Prequalification - Correct Answer an estimate of the loan amt. for which the buyer can qualify based on his income/credit under the lenders standards USDA ratio - Correct Answer 29/41 FHA ratio - Correct Answer 31/43 Asset based loan - Correct Answer -loans based on borrowers equity...
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Add to cartPrequalification - Correct Answer an estimate of the loan amt. for which the buyer can qualify based on his income/credit under the lenders standards USDA ratio - Correct Answer 29/41 FHA ratio - Correct Answer 31/43 Asset based loan - Correct Answer -loans based on borrowers equity...
---Credit Score --- - ANS >> A number calculated from a credit report used to indicate risk of default by the borrower- the lower the number , the greater the risk to the lender. Credit Union - ANS >> A non -profit financial institution set up under federal guidelines and owne...
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Add to cart---Credit Score --- - ANS >> A number calculated from a credit report used to indicate risk of default by the borrower- the lower the number , the greater the risk to the lender. Credit Union - ANS >> A non -profit financial institution set up under federal guidelines and owne...
What Law deals with credit, APR & advertising of consumer loans? - Correct Answer TILA - REG Z Which regulation prohibits kickbacks? - Correct Answer RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? - Correct Answer HPA - Home Owners Protection Act...
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Add to cartWhat Law deals with credit, APR & advertising of consumer loans? - Correct Answer TILA - REG Z Which regulation prohibits kickbacks? - Correct Answer RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? - Correct Answer HPA - Home Owners Protection Act...
Secondary Market - Correct Answer A Market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages FNMA - Correct Answer Federal National Mortgage Association (Fannie Mae) Savings & Loan Lender - Correct Answer have their origins in the...
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Add to cartSecondary Market - Correct Answer A Market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages FNMA - Correct Answer Federal National Mortgage Association (Fannie Mae) Savings & Loan Lender - Correct Answer have their origins in the...
RESPA - Correct Answer Set of rules that are applied fairly to lenders buying or selling a house Mortgage broker - Correct Answer Match borrowers to Lenders Unimproved property - Correct Answer Building in process /Construction halfway done Bridge(Swing) Loan - Correct Answer Short ...
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Add to cartRESPA - Correct Answer Set of rules that are applied fairly to lenders buying or selling a house Mortgage broker - Correct Answer Match borrowers to Lenders Unimproved property - Correct Answer Building in process /Construction halfway done Bridge(Swing) Loan - Correct Answer Short ...
Which disclosure, required to be sent three days after application, indicates to the borrower whether or not the servicing of their loan may be sold or transferred? - Correct Answer The Mortgage Servicing Disclosure, required by RESPA, is specifically supposed to inform the consumer whether or not ...
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Add to cartWhich disclosure, required to be sent three days after application, indicates to the borrower whether or not the servicing of their loan may be sold or transferred? - Correct Answer The Mortgage Servicing Disclosure, required by RESPA, is specifically supposed to inform the consumer whether or not ...
Which of the following is intended to ensure that consumers are provided with information on the nature and costs of the settlement process? FCRA HPA HOEPA RESPA - ANS >> RESPA Which of the following best describes a loan with a principal balance exceeding Fannie Mae or Freddie Mac ...
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Add to cartWhich of the following is intended to ensure that consumers are provided with information on the nature and costs of the settlement process? FCRA HPA HOEPA RESPA - ANS >> RESPA Which of the following best describes a loan with a principal balance exceeding Fannie Mae or Freddie Mac ...
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