NMLS SAFE Bundled Exams with Complete Solution | Verified | Guaranteed Success Updated & Verified | 2024

An Approve/Eligible determination: 1. Is an indication that a property appraised for its sales price 2. Authorization to release funds in a refinance transaction 3. An automated loan approval from the Fannie Mae Du system 4. A recommendation that is received by the Freddie Mac loan prospector au...

AARMR stands for - American Association of Residential Mortgage Regulations AML - Anti-Money Laundering Blockbusting - Illegal practice of inducing homeowners to sell their properties cheaply by telling them that a certain people of a certain race, national origin or religion are moving into the ...

According to the FCRA, when must a credit agency give a consumer a free copy of his credit report? A.)If the loan application is denied because of information in the report B.) Whenever he request it A.)If the loan application is denied because of information in the report A Consumer comes into y...

What is the form to confirm tax records that's filled out with IRS? - 4506-T form APR - Annual percentage rate What is an APR? - The annual rate of interest that is charged for using credit What does an APR consist of? - Discount points, mortgage insurance premiums, administrative fees (ordinat...

1.The practice of getting people to sell their homes at bargain prices by suggesting that certain ethnic groups are going to move into the area is nicknamed: 1.Price fixing 2.Redlining 3.Steering 4.Blockbusting - Correct Choice:4 2.You and the borrower believe an Adjustable Rate Mortgage would be...

Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - Predatory Lending. RESPA-Real Estate Settlement Procedures Act - The Feder...

All of the following information is provided under Section X of the 1003, except: a.) Ethnicity b.) Name and address of employer c.) Sex d.) Race - b.) Name and address of employer Section X of the URLA contains information on: a.) Assets and Liabilities b.) Information for Government Monitor...

What must a borrower do to avoid having late payments reported to a credit bureau? - Pay within 30 days of due date Max penalty if a borrower is required to use a specific title company or settlement agent? - 3 times the fee What should not be over-weighted in an analysis of borrower repayment c...