Nmls practice exam - Study guides, Class notes & Summaries

NMLS S.A.F.E Exam Practice Questions

NMLS S.A.F.E Exam Practice Questions

NMLS S.A.F.E Exam Practice Questions Correctly Answered 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 - correct answer a. S.A.F.E. Act Loan processors and underwriters may not: a. Communicate with consumers to obtai...

NMLS SAFE Exam Practice Questions With 100% Correct And Verified Answers

NMLS Exam Questions and Answers 100% Accurate NMLS Exam Questions and Answers 100% Accurate NMLS Exam Questions and Answers 100% Accurate NMLS Exam Questions and Answers 100% Accurate Acceleration Clause - ANSWER-Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) - ANSWER-Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraise...

NMLS Safe Test Mortgage Licensing Practice Exam With Complete Answers 2024. Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - correct answer TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - correct answer Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed...

HUD NMLS - Practice Exam Questions and Answers (2023/2024) (Verified Answers)

NMLS Practice Exam Questions and Answers RESP does not apply to: a) Loans secured by a lien on a principal dwelling b) Federally related mortgage loans c) Subprime mortgage loans d) Loans for business, commercial and agricultural purposes - Answer-d) Loans for business, commercial and agricultural purposes Under the Fair Credit Reporting Act, which of the following entities has the burden of protecting a consumer's privacy when his/her credit information is being reported? a)...

NMLS Safe Test Mortgage Licensing Practice Exam Questions Solved 100% Correct.Latest Update/ Guaranteed Pass2024. NMLS Safe Test Mortgage Licensing Practice Exam Questions Solved 100% Correct.Latest Update/ Guaranteed Pass2024.