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NMLS Exam Questions And Correct Answers 100% Verified. Under the Fair Credit Reporting Act (Reg V), which of the following entities has the burden of protecting a consumer's privacy when his/her credit information is being reported? a. The consumer b. Mortgage broker c. Credit reporting age...

NMLS Practice Test Hard Questions And Correct Answers 100% Verified. A discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the interest rate on the mortgage loan B.) A mortgage broker at the time of application to obtain a favorable rate C.) The seller as...

NMLS Exam Questions And Correct Answers 100% Verified The S.A.F.E. Act applies to mortgage loan originators who take applications for, or offer or negotiate terms of, residential mortgage loans, which would include: Land to be used for agricultural purposes An apartment building with 30 units ...

NMLS Final Exam Questions And Correct Answers 100% Verified. Who is responsible for ensuring that the Closing Disclosure is delivered to the consumer? A.The creditor B.The loan processor C.The consumer D. The CFPB - AnswerA. the creditor Which law restricts the sharing of information given wh...

NMLS Exam Questions And Correct Answers 100% Verified. A borrower has gone to settlement for a cash-out refinance on Tuesday for his principal residence. His rescission period is over at midnight on Friday. According to the provisions specified under federal law, what is the first possible day t...

NMLS Exam Questions And Correct Answers 100% Verified. An annual escrow analysis is used to do which of the following? A. Ensure the loan is properly amortized B. Prevent escrow overages C. Reduce burden on the servicer D. Report underwriting errors - AnswerB. Prevent escrow overages The disc...