MLOs Must comply w requirements of the National Do-Not-Call Registry and UPDATE any download of registry at LEAST Every: - Correct Answer 31 days
The appraisal approach that is used as the best indicator of values for the existing properties is : - Correct Answer Market Data Approach
The ...
20 HR MLO SAFE Comprehensive MLO Fundamentals
Homework Questions & COMPLETE SOLUTIONS
MLOs Must comply w requirements of the National Do-Not-Call Registry and UPDATE any download of
registry at LEAST Every: - Correct Answer 31 days
The appraisal approach that is used as the best indicator of values for the existing properties is : - Correct
Answer Market Data Approach
The Equal Credit Opportunity Act is implemented by the CFPB's: - Correct Answer Regulation B
FHA sellers are permitted to provide financing concessions up to 6% of the: - Correct Answer Sales Price
APR disclosed for a regular transaction the allowable tolerance of: - Correct Answer .125% or 1/8th
The SAFE Act requires all MLOs seeking state-licensure to pass the NMLS-developed Mort- gage Loan
Originator Test with a score of: - Correct Answer 75%
The Consumer Financial Protection Act of 2010 establishes the Consumer Financial Protection Bureau
(CFPB), as an independent entity housed within the: - Correct Answer Federal Reserve
TRID requires that the Closing Disclosure must be completed and made available for inspec- tion: -
Correct Answer 3 business days prior to consummation
VA loans allow for a maximum LTV of what percent? - Correct Answer 100%
The VA's debt-to-income ratio is a ratio of total monthly debt payments (housing expense, in- stallment
debt, etc.) to gross income. It is a guide and, as an underwriting factor, it is secondary to the: - Correct
Answer Residual Income
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