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NMLS TEST FINAL EXAM 2 VERSIONS (VERSION AAND B) ACTUAL EXAM COMPLETE ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS $22.49
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NMLS TEST FINAL EXAM 2 VERSIONS (VERSION AAND B) ACTUAL EXAM COMPLETE ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS

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Terms in this set (310) How long should you keep mortgage loan records under ECOA? 25 months How long is the Do Not Call Registry good? When the number is disconnected, reassigned, or when the consumer chooses to remove it How many months cushion are allowed under the escrow account rul...

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  • December 13, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
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NMLS TEST FINAL EXAM 2 VERSIONS (VERSION
A AND B) 2024-2025 ACTUAL EXAM COMPLETE
ACCURATE EXAM QUESTIONS WITH DETAILED
VERIFIED ANSWERS
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Terms in this set (310)


How long should you 25 months
keep mortgage loan
records under ECOA?

How long is the Do Not When the number is disconnected, reassigned, or
Call Registry good? when the consumer chooses to remove it

How many months 2 months cushion
cushion are allowed
under the escrow
account rules?

When are escrow Renewed annually and if the account has more than
accounts reviewed and $50 in overage it will be refunded
what amount of overage
could cause a refund to
the borrower?

What properties are Single, 1-4 family dwellings, condos, and
covered under RESPA? manufactured homes placed on a lot

RESPA imposes Amount collected for escrow accounts
restriction on ___________?

When advertising, the A rate is quoted or present
APR must be present
when __________?

, Limit amounts in escrow, eliminate kickbacks , and
RESPA was put in place
educate the borrowers on the closing cost, it does
to?
NOT regulate interest rates

According to RESPA $10,000 and/or 1 year prison terms for each incident
guidelines, failure to
comply with Section 8
could result in a penalty
of?

Redlining is best defined Failing to end to certain geographic areas
as:

Who created and Federal Trade Commission (FTC Red Flag Rules)
monitors a companies
Red Flag Rules?

At what point in a When the principal balance reaches 78% of the
conventional will the PMI original value or purchase price
be removed?

When does a referring Before or at the time of the referral
party have to provide the
ABA form to the
borrower?

Advertising a mortgage TILA/reg Z
loan product that a
lender is not able to offer
is a violation of what
federal law?

What is the Act that Gramm-Leach Bliley Act
requires a financial entity
to provide customers
with a privacy notice, as
well as an "opt out
notice", regarding the
customer's personal
information?

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