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Mortgage brokerage questions and answers rated A+
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Mortgage brokerage questions and answers rated A+
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Mortgage brokerageas a mortgage broker - correct answer ✔✔In order to negotiate mortgages, a real estate salesperson or
broker must be registered
Mortgage Broker - correct answer ✔✔A person who brings together the user of capital (borrower) and
the supplier of capital (lender). For this service, a finder's fee is usually paid by the borrower.
2 years - correct answer ✔✔To apply for a mortgage broker registration, n applicant must have credit
analysis experience, underwriting experience, or other relevant experience or education that amounts to
at least
20 hrs - correct answer ✔✔to obtain a license as a mortgage loan originator, one must complete
prelicensing education totaling
engage in mortgage loan origination for new york residential real estate - correct answer ✔✔licensure as
a mortgage loan originator is required for individuals who
Mortgage Loan Originator (MLO) - correct answer ✔✔a person who is employed by or affiliated with a
mortgage originating entity, or who is an independent contractor, and is compensated by the mortgage
originating entity directly or indirectly
Mortgage Loan Servicer - correct answer ✔✔an individual or entity who receives scheduled periodic
payments from a borrower for a mortgage, including amounts for escrow
have at least five years experience in mortgage loan servicing or similar servicing, be actively engaged in
the operations of the servicer - correct answer ✔✔to be registered as a mortgage loan servicer, a
qualifying person, or qualifier, one must
may use it's own form or one from NYDFS - correct answer ✔✔when making a disclosure about
mortgage fees and conditions at the time of application, a mortgage broker company
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