NMLS

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 part of the closing costs of a loan D.) A lender to ensure against foreclosure - A.) A lender to decrease the interest rate on the mortgage loan A buyer has made an earnest money payment of $5,000. The buyer pays an additional $2,000 in option money to be credited a...

NMLS Practice Test Hard Questions With 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 part of the closing costs of a loan D.) A lender to ensure against foreclosure - AnswerA.) A lender to decrease the interest rate on the mortgage loan A buyer has made an earnest money payment of...

In 2013, Dept of Corporations (DOC) and Dept of Financial Inst. (DFI) merged to create this department - ANSWER Department of Business Oversight Financial Services Division (FSD) - ANSWER Subdivision of DBO tasked with regulation pertaining to residential mortgage lending The Finance Lender Law was created to replace 3 licenses: - ANSWER Personal Property Brokers, Consumer Finance Lenders, Commercial Finance Lenders In 1995, CFLL contained in Div9 of CA Financial Code commencing with...

Disclosures Required by RESPA: - ANSWER Loan Estimate, Closing Disclosure, special information booklet, affiliated business arrangement disclosure, disclosures related to mortgage servicing and escrow accounts, and, in certain transactions, the Good Faith Estimate and HUD-1 Settlement Statement. A special information booklet is due no later than... - ANSWER three business days after a mortgage loan application is received or prepared. The Special Information Booklet is called... - ANSW...

North Carolina NMLS Exam Questions with 100% Correct Answers | Graded A+ SAFE MLA - The Secure and Fair Enforcement For Mortgage Licensing Act Article 19B Joseph A. Smith Jr. - North Carolina-Commissioner of Banks. The office of the commissioner of banks, together with the NC banking commission, is responsible for the chartering and regulation of the NC state banks and trust companies, as well as registering & licensing of various financial institutions operating in NC including ch...

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 shal...

Mortgage NMLS Exam Questions and Answers 100% Solved | Graded A+ Annual Percentage Rate (APR) - Consumer's true annual cost of borrowing funds according to the Federal Truth-in-Lending Act. Calculates an effective interest rate based on most of a loan's up-front fees and the stated annual interest rate. Closing - Process whereby a seller delivers ownership rights in real property to the buyer. May also describe the completion of the loan process where the borrower receives us...

MLO NMLS - REXPA & TILA THE GODZILLA - REGULATION X & Z / TRID AND OTHER LAWS Exam Q&A 100% Solved Question In addition to information about disciplinary and enforcement action taken against a mortgage loan originator, the NMLS may also make available for public access: A . mortgage loan originator's home address B. The number of loans originated by a loan originator C. The mortgage loan originator's employment history D. Former clients of the mortgage loan originator - Sol...

NMLS Uniform State Content Exam Study Guide 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 - AnswerThe 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 n...

NMLS Test Questions and answers 2025/2026 Graded A+ 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 the loan could fund? - Saturday The amount of the down payment, the amount of the finance charge, or the number of payments needed are all examples of _______________ under TILA. - Trigger Terms Which...