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CHAMPIONS SCHOOL OF REAL ESTATE FINANCE EXAM QUESTIONS WITH CORRECT ANSWERS ALL VERIFIED BY AN EXPERT A+ GRADED (LATEST UPDATE) $10.49
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CHAMPIONS SCHOOL OF REAL ESTATE FINANCE EXAM QUESTIONS WITH CORRECT ANSWERS ALL VERIFIED BY AN EXPERT A+ GRADED (LATEST UPDATE)
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Mortgage loan originators who make cold calls must comply with the requirements of the National Do-NotCall registry and the Do-Not-Call rules. The loan originator needs to update any download of the registry at least every: - ANS 31 days The appraisal approach that is used as the best indica...

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  • November 21, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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K
C
LO
CHAMPIONS SCHOOL OF
YC
REAL ESTATE FINANCE EXAM
D

QUESTIONS WITH CORRECT
U


ANSWERS ALL VERIFIED BY
ST




AN EXPERT A+ GRADED
(LATEST UPDATE)

, Mortgage loan originators who make cold calls must comply with the requirements of the
National Do-NotCall registry and the Do-Not-Call rules. The loan originator needs to update any
download of the registry at least every: - ANS 31 days

The appraisal approach that is used as the best indicator of value for existing properties is -
ANS market data approach

The Equal Credit Opportunity Act, is implemented by the CFPB's: - ANS regulation B

FHA sellers are permitted to provide financing concessions up to 6 percent of the: - ANS




K
sales price

The APR disclosed must be within the allowable tolerance of: - ANS 1/8 (.125)




C
The SAFE Act requires all MLOs seeking state-licensure to pass the NMLS-developed
Mortgage Loan Originator Test with a score of: - ANS 75 or better




LO
The Consumer Financial Protection Act of 2010 establishes the Consumer Financial Protection
Bureau (CFPB) as an independent entity housed within the: - ANS federal reserve system

TRID requires that the Closing Disclosure must be completed and made available for
YC
inspection: - ANS 3 business days prior to consummation

VA loans allow for a maximum LTV of what percent? - ANS 100%

The VA's debt-to-income ratio is a ratio of total monthly debt payments (housing expense,
installment debt, etc.) to gross income. It is a guide and, as an underwriting factor, it is
D

secondary to the: - ANS Residual income calculation

The Equal Credit Opportunity Act, and the CFPB's implementing Regulation B, prohibits
U


discrimination in any aspect of a credit transaction on the basis of all of the following except: -
ANS immigration status
ST




The SAFE Act requires mortgage loan originators to pass a qualified test to obtain a license. An
individual may retake the test 2 consecutive times with each consecutive taking occurring at
least: - ANS 30 days after the preceding test

Lenders that generate mortgage loans may receive some degree of legal protection against
borrower lawsuits. The level of protection they receive will depend on the type of loan they
make. What type of mortgage loan gives the lender the greatest level of protection against
borrower lawsuits? - ANS Qualified mortgage loan

. Fannie Mae is the nickname for the: - ANS federal national mortgage association
FNMA

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