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20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW all Questions & answers solved accurately with Complete Solution Graded A+ latest version CA$18.72   Add to cart

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20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW all Questions & answers solved accurately with Complete Solution Graded A+ latest version

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20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW all Questions & answers solved accurately with Complete Solution Graded A+ latest version

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  • July 6, 2024
  • 14
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
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TUTORSON
20-HR SAFE Comprehensive Mortgage
Loan Originator Fundamentals HW
Mortgage loan originators who make cold calls must comply with the
requirements of the National Do-Not-Call rules. The loan originator needs to
update any download of the registry at least every:

31 days
18 Months
7 days
Year - CORRECT ANSWER-31 Days

The appraisal approach that is used as the best indicator of value for existing
properties is:

Similar property approach
Fair market value approach
Market data approach
Neighborhood value approach - CORRECT ANSWER-Market data approach

The Truth in Lending Act is contained in Title I of the:

Real Estate Settlement Procedures Act
Fair Credit Reporting Act
Consumer Credit Protection Act
Equal Credit Opportunity Act - CORRECT ANSWER-Consumer Credit Protection
Act

FHA (Federal Housing Administration) sellers are permitted to provide financing
concession up to 6 percent of the:

Sales price
Loan amount
FHA non-allowable closing cost
Origination charges - CORRECT ANSWER-Sales price

, The APR disclosure for a regular transaction the allowable tolerance of:

.250%
1%
.125%
.500% - CORRECT ANSWER-.125% = 1/8

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

80 or better
75 or better
70 or better
65 or better - CORRECT ANSWER-75 or better

The Consumer Financial Protection Act of 2010 establishes Consumer Financial
Protection Bureau (CFPB), as an independent entity housed within the:

Federal Housing Finance Agency
Federal Trade Commission
Federal National Mortgage Association
Federal Reserve System - CORRECT ANSWER-Federal Reserve System

TRID requires that the Closing Disclosure must be completed and made
available for inspection:

a. During the business day immediately preceding the day of settlement
b. The day of consummation
c. Within 3 days of application
d. 3 business days prior to consummation - CORRECT ANSWER-3 Business
days prior to consummation

VA loans allow for a maximum LTV of what percent?
a. 90%
b. 95%
c. 97%

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