NMLS Test Study Questions | 140 Questions | 100% Correct Answers
The Lender Credit section of the LE and CD can be found where? - Section J The Loan Estimate after disclosure must be kept for how long? - 3 yrs after disclosure Are State-specific disclosures replaced by the new Loan Estimate and Closing Disclosure? - Federal disclosures never replace state specific disclosures Home Owner Association (HOA) dues are disclosed when?: - Only after the fee is known How long must a creditor or servicer retain the Escrow Closing Notice and the PostPartial Payment Policy disclosure? - 2 years What is the soonest you can send a Closing Disclosure after the Loan Estimate? - you have to wait at least one day between sending What is the general accuracy requirement for any amounts listed on the LE? - accuracy must be made in good faith What is the name of Fannie Mae's automated underwriting system? - Automated underwriting system (AUS) or Desktop underwriter (DU) Regarding a balloon loan, which is the most correct? - the balloon is disclosed on the Note and the Trust Deed Rider. What is the name of Freddie Mac's automated underwriting system? - Loan Prospector
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California State University - Los Angeles
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NMLS
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nmls test study questions | 140 questions | 100 correct answers
