Nmlsr - Study guides, Class notes & Summaries

Real Estate Finance Champions Questi Origination - ANSWERThe process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower Credit reports will be ordered, in most cases from all three major national credit reporting agencies: - ANSWERExperian, Equifax, and TransUnion Not all creditors will report to all three, they will - ANSWEREach reporting agency will report a different credit score for the borrower Underwriting - ANSWERThe detailed...

Origination - ANSWER-The process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower Credit reports will be ordered, in most cases from all three major national credit reporting agencies: - ANSWER-Experian, Equifax, and TransUnion Not all creditors will report to all three, they will - ANSWER-Each reporting agency will report a different credit score for the borrower Underwriting - ANSWER-The detailed process of evaluating a borrower...

Seller's market - ANSWER-When supply is low and demand is high Buyer's market - ANSWER-When supply is high and demand is low The process of creating a new mortgage loan - ANSWER-Origination The detailed process of evaluating a borrower's loan application to determine the risk involved for the lender - ANSWER-Underwriting When there is an excess of money supply in the market - ANSWER-Monetary inflation Which agency insures deposits in bank and thrift institution for up to $250,0...

Real Estate Finance Champions 2024 Final Test With Verified Answers Origination - CORRECT ANSWER-The process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower Credit reports will be ordered, in most cases from all three major national credit reporting agencies: - CORRECT ANSWER-Experian, Equifax, and TransUnion Not all creditors will report to all three, they will - CORRECT ANSWER-Each reporting agency will report a different cred...

The process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower are _____. - ANSWER-Origination activities The process of evaluating a borrower's loan application to determine the risk involved for the lender is - ANSWER-Underwriting Which of the following Federal Fair Housing statues prohibit housing discrimination - ANSWER-National Origin All residential mortgage loan originators must now be registered with the ______. - ANSWER-Nat...

The SAFE Mortgage Loan Originator National Exam Study Guide practice Exam 2 Questions With 100% Correct Answers 1. Which of the following is NOT a loan origination activity? - answerC. Assisting in a loan modification 2. A unilateral contract is binding on: - answerA. One party 3. Loan originator organizations must keep compensation records for how many years? - answerC. Three 4. Mortgage companies must submit a residential loan origination activity report to the NMLSR every: - answerB....

1. Which of the following is NOT a loan origination activity? correct answers C. Assisting in a loan modification 2. A unilateral contract is binding on: correct answers A. One party 3. Loan originator organizations must keep compensation records for how many years? correct answers C. Three 4. Mortgage companies must submit a residential loan origination activity report to the NMLSR every: correct answers B. Three months 5. How many years must loan originator applicants wait after a ...

Credit reports will be ordered, in most cases from all three major national credit reporting agencies: - ANSWER-Experian, Equifax, and TransUnion Not all creditors will report to all three, they will - ANSWER-Each reporting agency will report a different credit score for the borrower Underwriting - ANSWER-The detailed process of evaluating a borrower's loan application to determine the risk involved for lender Fiscal Policy - ANSWER-Which relates to Federal Government spending. Governm...

The __________ is designed (in part) to establish and maintain a nationwide mortgage licensing system and registry. - S.A.F.E. Act An applicant who has had a loan originator license revoked previously is eligible for a license as long as __________ - this applicant is NOT eligible for a license What entity works with the NMLSR to establish a backup licensing system, licensing and registration requirements, unique identifiers, and state licensing law requirements? - Secretary of Housing and ...

The __________ is designed (in part) to establish and maintain a nationwide mortgage licensing system and registry. correct answers S.A.F.E. Act An applicant who has had a loan originator license revoked previously is eligible for a license as long as __________ correct answers this applicant is NOT eligible for a license What entity works with the NMLSR to establish a backup licensing system, licensing and registration requirements, unique identifiers, and state licensing law requirements...