Fhlb stand for - Study guides, Class notes & Summaries

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 capacity? - Credit scores Max prepayment penalty on residential mortgages in the first year of the loan - 3% What must condominium associations do with respect to property insurance? - Keep a "blank...

What must a borrower do to avoid having late payments reported to a credit bureau? correct answers Pay within 30 days of due date Max penalty if a borrower is required to use a specific title company or settlement agent? correct answers 3 times the fee What should not be over-weighted in an analysis of borrower repayment capacity? correct answers Credit scores Max prepayment penalty on residential mortgages in the first year of the loan correct answers 3% What must condominium associ...

What must a borrower do to avoid having late payments reported to a credit bureau? - Answer-Pay within 30 days of due date Max penalty if a borrower is required to use a specific title company or settlement agent? - Answer-3 times the fee What should not be over-weighted in an analysis of borrower repayment capacity? - Answer-Credit scores Max prepayment penalty on residential mortgages in the first year of the loan - Answer-3% What must condominium associations do with respect to pr...

What must a borrower do to avoid having late payments reported to a credit bureau? - correct answer Pay within 30 days of due date Max penalty if a borrower is required to use a specific title company or settlement agent? - correct answer 3 times the fee What should not be over-weighted in an analysis of borrower repayment capacity? - correct answer Credit scores Max prepayment penalty on residential mortgages in the first year of the loan - correct answer 3% What must condominium as...

NMLS MLO EXAM STUDY GUIDE 2024 QUESTIONS & ANSWERS GRADED 100% VERIFIED. Here, You'll Find Questions & Answers on NMLS Such As: Overt Discrimination - Answer - Refusing service to anyone of a certain race, ethnicity. On the LE, which piece of data tells applicants how much they will be paying in interest over the life of the loan as a percentage of the loan? - Answer - TIP (Total Interest Percentage) The finance charge is the total cost of: - Answer - the loan in dollars, including points a...

NMLS MLO Exam Question with answers already solved 2023What 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 capacity? Credit scores Max prepayment penalty on residential mortgages in the first year of the loan 3% What must condo...

What must a borrower do to avoid having late payments reported to a credit bureau? Correct Answer: Pay within 30 days of due date Max penalty if a borrower is required to use a specific title company or settlement agent? Correct Answer: 3 times the fee What should not be over-weighted in an analysis of borrower repayment capacity? Correct Answer: Credit scores Max prepayment penalty on residential mortgages in the first year of the loan Correct Answer: 3% What must condominium as...

A __________ is a permanent change in one or more of the terms of a borrower's loan. Loan Qualification Loan Modification Loan Approval Loan Origination - ANSWER-Loan Modification What time period must borrowers have in job history with the same employer to qualify? 2 months 6 months 1 year 2 years - ANSWER-2 years Unscrupulous actions carried out by a lender to entice, induce and/or assist a borrower in taking a mortgage that carries high fees, a high interest rate, s...

NMLS MLO Exam Questions and Answers What must a borrower do to avoid having late payments reported to a credit bureau? - Correct Answer️️ -Pay within 30 days of due date Max penalty if a borrower is required to use a specific title company or settlement agent? - Correct Answer️️ -3 times the fee What should not be over-weighted in an analysis of borrower repayment capacity? - Correct Answer️️ -Credit scores Max prepayment penalty on residential mortgages in the first year of t...

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 capacity? - Credit scores Max prepayment penalty on residential mortgages in the first year of the loan - 3% What must condominium associations do with respect to property insurance? - Keep a "blank...