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NMLS SAFE EXAM NMLS PRACTICE QUESTIONS NMLS PRACTICE TEST HARD QUESTIONS 2024 NMLS STUDY GUIDE | LATEST UPDATE NMLS EXAM 2024 NMLS STUDY GUIDE
[Show more]NMLS SAFE EXAM NMLS PRACTICE QUESTIONS NMLS PRACTICE TEST HARD QUESTIONS 2024 NMLS STUDY GUIDE | LATEST UPDATE NMLS EXAM 2024 NMLS STUDY GUIDE
[Show more]NMLS SAFE EXAM | LATEST UPDATE| ULTIMATE SOLUTION 
Where credit institutions originate loans - CORRECT ANSWER Primary Mortgage Market 
 
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. The m...
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Add to cartNMLS SAFE EXAM | LATEST UPDATE| ULTIMATE SOLUTION 
Where credit institutions originate loans - CORRECT ANSWER Primary Mortgage Market 
 
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. The m...
which federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? - CORRECT ANSWER FEDERAL RESERVE SYSTEM 
 
the clause in a mortgage that allows the lender to foreclose if the borrower defaults is the - CORRECT ANSWER Accel...
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Add to cartwhich federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? - CORRECT ANSWER FEDERAL RESERVE SYSTEM 
 
the clause in a mortgage that allows the lender to foreclose if the borrower defaults is the - CORRECT ANSWER Accel...
A 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 of the closing costs of a loan 
D.) A lender to ensure against ...
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Add to cartA 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 of the closing costs of a loan 
D.) A lender to ensure against ...
Who is responsible for ensuring that the Closing Disclosure is delivered to the consumer? 
 A.The creditor 
 B.The loan processor 
 C.The consumer 
 D. The CFPB - CORRECT ANSWER A. the creditor 
 
Which law restricts the sharing of information given when a consumer applies for a mortgage loan?...
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Add to cartWho is responsible for ensuring that the Closing Disclosure is delivered to the consumer? 
 A.The creditor 
 B.The loan processor 
 C.The consumer 
 D. The CFPB - CORRECT ANSWER A. the creditor 
 
Which law restricts the sharing of information given when a consumer applies for a mortgage loan?...
NMLS EXAM | LATEST UPDATE| ULTIMATE SOLUTION 
What law deals with credit, APR & advertising of consumer loans? - ANSWER TILA/REGULATION Z 
 
Which regulation prohibits kickbacks? - ANSWER RESPA 
 
Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? - ANSW...
Preview 3 out of 20 pages
Add to cartNMLS EXAM | LATEST UPDATE| ULTIMATE SOLUTION 
What law deals with credit, APR & advertising of consumer loans? - ANSWER TILA/REGULATION Z 
 
Which regulation prohibits kickbacks? - ANSWER RESPA 
 
Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? - ANSW...
2024 NMLS STUDY GUIDE | LATEST UPDATE| 215 QAs VERIFIED 
1.	Which of the following is NOT a TILA or RESPA mandated disclosure? Select one: 
A.	Closing Disclosure 
B.	Loan Estimate 
C.	Mortgage Servicing Disclosure 
D.	An Adverse Action Statement: D. An Adverse Action Statement 
2.	Which of the follo...
Preview 4 out of 47 pages
Add to cart2024 NMLS STUDY GUIDE | LATEST UPDATE| 215 QAs VERIFIED 
1.	Which of the following is NOT a TILA or RESPA mandated disclosure? Select one: 
A.	Closing Disclosure 
B.	Loan Estimate 
C.	Mortgage Servicing Disclosure 
D.	An Adverse Action Statement: D. An Adverse Action Statement 
2.	Which of the follo...
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