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2024 NMLS STUDY GUIDE NMLS EXAM NMLS FINAL EXAM NMLS PRACTICE TEST HARD QUESTIONS NMLS SAFE EXAM | LATEST UPDATE| ULTIMATE SOLUTION
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2024 NMLS STUDY GUIDE | LATEST UPDATE| 215 QAs VERIFIED
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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 following does not affect a Veterans Funding fee? Select on...
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Add to cart1. 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 following does not affect a Veterans Funding fee? Select on...
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NMLS EXAM | LATEST UPDATE| ULTIMATE SOLUTION
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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? - ANSWER HPA - Homeowners Protection Act Which regulatio...
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Add to cartWhat 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? - ANSWER HPA - Homeowners Protection Act Which regulatio...
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NMLS FINAL EXAM | LATEST UPDATE| ULTIMATE SOLUTION
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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? A. Fair...
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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? A. Fair...
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NMLS PRACTICE TEST HARD QUESTIONS | LATEST UPDATE| ULTIMATE SOLUTION
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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 fo...
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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 fo...
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NMLS PRACTICE QUESTIONS | LATEST UPDATE| ULTIMATE SOLUTION
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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 Acceleration...
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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 Acceleration...
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NMLS SAFE EXAM | LATEST UPDATE| ULTIMATE SOLUTION
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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 maximum the rate can increase over the life of the loan D...
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Add to cartWhere 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 maximum the rate can increase over the life of the loan D...
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