Mortgage loan products Study guides, Class notes & Summaries
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NMLS SAFE EXAM Questions And Answers (Verified And Updated)
- Exam (elaborations) • 68 pages • 2024
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NMLS SAFE EXAM Questions And 
Answers (Verified And Updated) 
Where credit institutions originate loans - answerPrimary 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 - answerC. The 
maximum the rate can increase over the life of the loan 
When utiliz...
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NMLS SAFE EXAM Questions And Answers (Verified And Updated)
- Exam (elaborations) • 68 pages • 2024
-
- $14.49
- + learn more
NMLS SAFE EXAM Questions And 
Answers (Verified And Updated) 
Where credit institutions originate loans - answerPrimary 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 - answerC. The 
maximum the rate can increase over the life of the loan 
When utiliz...
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Florida Mortgage LIcense broker exam with complete verified solutions
- Exam (elaborations) • 18 pages • 2024
- Available in package deal
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- $15.49
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What law prohibits a lender from requiring mortgage insurance through any agent or company? 
Anti - coercion law 
 
 
 
Who supervises all activities of the OFR? 
The director 
 
 
 
What are examples of prohibited practices under Chapter 494? 
Mostly fraud related activities 
 
 
 
Who can a fee or commission related to a mortgage loan transaction be paid to under chapter 393? 
Mortgage broker 
Mortgage lender 
A person exempt from licensure under the law. 
 
 
 
What disclosures need to be pro...
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NMLS SAFE EXAM QUESTIONS AND ANSWERS ALREADY PASSED
- Exam (elaborations) • 140 pages • 2024
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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 ...
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HUD Housing Counselor Module- Avoiding Foreclosure Exam Questions and Answers 100% Pass
- Exam (elaborations) • 17 pages • 2024
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HUD Housing Counselor Module- Avoiding Foreclosure 
Exam Questions and Answers 100% Pass 
Which of the following did NOT contribute to the increase in foreclosure rates during the 
mortgage crisis? 
- Risky loan products with features like negative amortization 
- Homeowners paying off mortgages early 
- Aggressive marketing of Home Equity Line of Credits (HELOC) 
- Using teaser rates to qualify more borrowers - Correct Answer ️️ -Homeowners 
paying off mortgages early 
This program made it ...
Too much month left at the end of the money?
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MLO SAFE Test 2024 Exam Questions With 100% Correct Answers
- Exam (elaborations) • 29 pages • 2024
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MLO SAFE Test 2024 Exam Questions 
With 100% Correct Answers 
Dodd-Frank - answer- Dodd-Frank Wall Street Reform and Consumer Protection Act of 
2010 
- Changed oversight & capitalization of financial institutions, added licensing an education 
standards, and limited riskier products in the marketplace 
- Established the CFPB 
- Defined and specifically outlawed UDAAPs 
CFPB - answer- Consumer Financial Protection Bureau 
- The Bureau 
- Oversees and enforces Dodd-Frank specifically to protect c...
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NMLS SAFE EXAM QUESTIONS AND ANSWERS GRADED A+
- Exam (elaborations) • 61 pages • 2024
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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 
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Florida Mortgage LIcense broker exam with complete verified solutions.
- Exam (elaborations) • 18 pages • 2024
- Available in package deal
-
- $13.49
- + learn more
What law prohibits a lender from requiring mortgage insurance through any agent or company? 
Anti - coercion law 
 
 
 
Who supervises all activities of the OFR? 
The director 
 
 
 
What are examples of prohibited practices under Chapter 494? 
Mostly fraud related activities 
 
 
 
Who can a fee or commission related to a mortgage loan transaction be paid to under chapter 393? 
Mortgage broker 
Mortgage lender 
A person exempt from licensure under the law. 
 
 
 
What disclosures need to be pro...
-
SAFE Exam Test With 100% Correct And Verified Answers
- Exam (elaborations) • 41 pages • 2024
- Available in package deal
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- $20.49
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SAFE Exam Test With 100% Correct And Verified Answers 
Title X - Correct Answer-Created the CFPB IN 2011 
A part of the Dodd Frank Act 
 
Dodd-Frank Wall Street Reform Act - Correct Answer-July 2010 
Created to promote financial stability 
Created two titles- Title X and Title XIV 
 
CFPB - Correct Answer-Consumer financial protection bureau 
Created by Title X, under the Dodd Frank act 
Government entity that regulates laws and regulations 
2010 
Protects consumers from abusive practices 
 
...
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Compucram || with 100% Correct Answers.
- Exam (elaborations) • 9 pages • 2024
- Available in package deal
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- $11.29
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MLO Josh must provide a(n) _____ when quoting an interest rate and terms to a consumer who has inquired about mortgage loan interest rates correct answers Corresponding APR 
 
When an MLO receives an inquiry related to mortgage loan interest rates, a corresponding annual percentage rate (APR) must be provided to the inquiring consumer at the same time a rate quote is delivered. What document can be used as a tool for explaining the APR to an applicant? correct answers Loan estimate 
 
When a con...
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