Nmls exam b Study guides, Class notes & Summaries

NMLS Final Exam Questions with Correct Answers 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 - Answer-A. the creditor Which law restricts the sharing of information given when a consumer applies for a mortgage loan? A. Fair Credit Reporting Act B. FTC Disposal Rules C. Gramm-Leach-Bliley Act D. Consumer Regulatory Protection Act - Answer-C. Gramm-Leach-Bliley Act Whi...

NMLS S.A.F.E Exam Practice Questions and Answers Fully solved 2024 Enhancing protection and reducing fraud by directing states to adopt minimum uniform standards for the licensing and registration of residential mortgage loan originators was the purpose of the federal act known as the: a. S.A.F.E. Act b. Federal Trade Act c. Consumer Financial Protection Act d. Dodd-Frank Act a. S.A.F.E. Act Loan processors and underwriters may not: a. Communicate with consumers to obtain infor...

NMLS SAFE EXAM QUESTIONS AND ANSWERS ALREADY PASSED Where credit institutions originate loans Primary Mortgage Market When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over the life of the loan D. The rate maximum the rate can decrease over the life of the loan C. The maximum the rate can increase over the life of the loan When utilizing a temporary ...

NMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATENMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATENMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATENMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATE 1) Mortgage loan fraud is reported at what level? A. State B. Federal C. County D. City - ANSWER-B. Mortgage Fraud is reported to the FBI and to HUD ( The United States Department of Housing and Urban Development is a Cabinet department in the executive branch of the U.S. federal government) 2) Titl...

NMLS EXAM STUDY QUESTIONS 2024. 1) Mortgage loan fraud is reported at what level? A. State B. Federal C. County D. City - correct answer B. Mortgage Fraud is reported to the FBI and to HUD ( The United States Department of Housing and Urban Development is a Cabinet department in the executive branch of the U.S. federal government) 2) Title V of the Housing and Economic Recovery Act (HERA) of 2008 is best known as: A. The SAFE Act B. RESPA C. TILA D. CRA - correct answer A. S.A.F....

SAFE NMLS Exam Prep-Questions With Complete Answers 2024. Real Estate Settlement Procedures Act (RESPA) is implemented as: - correct answer A. Regulation B B. Regulation X C. Regulation A D. Regulation Z B. Which government agency enforces the RESPA regulations? - correct answer A. CFPB B. FCC C. FHA D. FTC A. RESPA is concerned with: - correct answer A. Kickbacks B. Credit reports C. Triggering terms in ads D. U.S. security A. The Good Faith Estimate/Loan Estimate...

NMLS SAFE EXAM QUESTIONS AND ANSWERS GRADED A+ Primary Mortgage Market Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over the life of the loan D. The rate maximum the rate can decrease over the life of the loan Brainpower Read More Pre...

NMLS 2023 Exam Questions and Answers All Correct 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 - Answer-B. Prevent escrow overages The disclosure requirements of RESPA would apply to which of the following loans? A. A loan to purchase 75 acres of land B. A farm loan C. A loan to purchase a property that includes a gas statio...

California State NMLS EXAM STUDY QUESTIONS 2024. "Federal banking agencies" include: Answers A. The Director of the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, and FDIC B. Fannie Mae and Freddie Mac C. The Comptroller of the Currency and the National Credit Union Administration D. A and C - correct answer D. A borrower approaches a lender to refinance their existing negative amortization loan, which was originated by that same lender....