100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
NMLS Uniform State Content Exam Questions and Answers 100% Solved $12.99
Add to cart

Exam (elaborations)

NMLS Uniform State Content Exam Questions and Answers 100% Solved

 0 purchase

NMLS Uniform State Content Exam Questions and Answers 100% Solved All advertising of a Mortgage Loan Originator must include which of the following? -A photograph of the Mortgage Loan Originator -The Mortgage Loan Originator's unique identifier -Types of loans the Mortgage Loan Originator m...

[Show more]

Preview 3 out of 16  pages

  • January 27, 2025
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
All documents for this subject (1424)
avatar-seller
JOSHCLAY
NMLS Uniform State Content Exam
Questions and Answers 100% Solved

All advertising of a Mortgage Loan Originator must include which of the

following?



-A photograph of the Mortgage Loan Originator

-The Mortgage Loan Originator's unique identifier

-Types of loans the Mortgage Loan Originator makes

-A disclaimer from the NMLS - ✔✔The Mortgage Loan Originator's unique

identifier



All MLOs must include their NMLS ID# (unique identifier) on their

advertisements.

A Mortgage Lender shall maintain capital of not less than $______ per licensed

location:



-$100,000

-$200,000


1|Page
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.

,-$300,000

-An amount determined by the state Regulatory Authority that reflects the

dollar amount of loans originated. - ✔✔An amount determined by the state

Regulatory Authority that reflects the dollar amount of loans originated.



Surety Bond and Net Worth requirements are outlined by the state regulatory

authority at their discretion. The SAFE Act does not outline a minimum

requirement.

A loan originator is:



-A person who only performs real estate brokerage activities and is not

compensated by a lender, a mortgage broker, or other loan originator.

-A person or entity solely involved in extensions of credit relating to timeshare

plans.

-An individual who takes a residential mortgage loan application and offers or

negotiates terms of a residential mortgage loan for compensation or gain.

-A person who only handles clerical or data entry functions. - ✔✔An individual

who takes a residential mortgage loan application and offers or negotiates

terms of a residential mortgage loan for compensation or gain.

2|Page
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.

, A mortgage loan originator or MLO is an individual who for compensation or

gain or in the expectation of compensation or gain; takes a residential mortgage

loan application; or offers or negotiates terms of a residential mortgage loan.

All of the following are grounds for the Regulatory Authority to revoke a license

except:



-material misstatements in an application.

-conviction of any crime of moral turpitude.

-failure to account for funds received or disbursed.

-not completing Continuing Education before Dec 31st. - ✔✔not completing

Continuing Education before Dec 31st.



If a licensee fails to complete their CE before expiration, they do not meet the

requirements for renewal and their license will expire.

The Nationwide Multistate Licensing System and Registry is developed and

maintained by which of the following:



-The Conference of State Bank Supervisors and the NMLS

3|Page
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller JOSHCLAY. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69252 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$12.99
  • (0)
Add to cart
Added