Loan originator - Study guides, Class notes & Summaries

The SAFE Mortgage Loan Originator National Exam Study Guide practice exam 2 with Complete Solutions 1. Which of the following is NOT a loan origination activity? C. Assisting in a loan modification 2. A unilateral contract is binding on: A. One party 3. Loan originator organizations must keep compensation records for how many years? C. Three 4. Mortgage companies must submit a residential loan origination activity report to the NMLSR every: B. Three months 5. How many years m...

FREC Practice Test Questions & Answers 2023/2024 1. Which of the following statements is true regarding a mortgage loan originator (MLO)? a. A mortgage loan originator is the same as a mortgage broker. b. A mortgage loan originator must have a separate license. c. A mortgage loan originator makes loans. d. A mortgage loan originator must have a real estate license. - ANSWER-B 2. A real estate appraiser's fee for professional service is based on which of the following? a. A percentage...

Loan Originator Exam study review new solution update 2024 Section 32 of TILA - Deals with consumer protection triggered by high cost loan scenarios. Deals with added provisions and protections that are required if a loan trips one of two thresholds, or both. 1) Points of fee thresholds 2) APR thresholds

MORTGAGE LOAN ORIGINATOR EXAM 2024 What does RESPA stand for? - correct answer The Real Estate Settlement Procedures Act (Regulation X) What does ECOA stand for? - correct answer Equal Credit Opportunity Act (Regulation B) What does TILA stand for? - correct answer Truth In Lending Act (Regulation Z) What does TRID stand for? - correct answer TILA-RESPA Integrated Disclosure Rule (a.k.a. "Know Befo

A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. secondary market The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. Federal Housing Finance Agency (FHFA) The ____ guarantee allows mortgage lenders to obtain a better price for their loan in the capital markets. Gov't. National Mortgage Association - Ginnie Mae ...

SAFE Mortgage Loan Originator Test - National Component with Uniform State Content

20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW | 100% Correct Answers | Verified | Latest 2024 Version

Mortgage loan originator Exam 2024...

SAFE Mortgage Loan Originator Exam 2024...

An application for a mortgage loan has been denied and, as required by Regulation B, an Adverse Action Notice has been delivered to the applicant. Which of the following is not included on the Adverse Action Notice? a. Disclosure of the applicant's credit score b. Statement of reasons for credit denial c. The right to dispute the credit denial d. Disclosure of use of information obtained from an outside source - The right to dispute the credit denial Under the Home Ownership Equity Prot...