NMLS Safe Test Mortgage Licensing Practice Exam Questions and Answers (Graded A) NMLS 20 Hour SAFE Test Prep (Answered) NMLS SAFE EXAM NMLS safe test (solved) NMLs Safe test Questions and Answers NMLS SAFE Exam 2022/2023 QA NMLS SAFE Test Questions with 100% correct Answers
[Show more]
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? - ANSWER-TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - A...
Preview 3 out of 29 pages
Add to cartWhich federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - ANSWER-TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - A...
The Mortgage Lending Industry - ANSWER-Segment 1 Which one of the following is NOT an alternative term used to refer to a savings and loan institution? -Mutual savings bank -Thrift institution -Mortgage banker -Savings and loan association - ANSWER-Mortgage banker A non-institutional lende...
Preview 2 out of 15 pages
Add to cartThe Mortgage Lending Industry - ANSWER-Segment 1 Which one of the following is NOT an alternative term used to refer to a savings and loan institution? -Mutual savings bank -Thrift institution -Mortgage banker -Savings and loan association - ANSWER-Mortgage banker A non-institutional lende...
Primary Mortgage Market - ANSWER-Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan - ANSWER-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....
Preview 4 out of 61 pages
Add to cartPrimary Mortgage Market - ANSWER-Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan - ANSWER-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....
What type of MLO must be licensed? A. an MLO of a savings and loan B. An MLO of a commercial bank C. Building and Loan Association MLO D. An MLO of a non-depository firm that arranges mortgages for clieents - ANSWER-D What is the difference between mortgage lenders and brokers? - ANSWER-Mortg...
Preview 2 out of 11 pages
Add to cartWhat type of MLO must be licensed? A. an MLO of a savings and loan B. An MLO of a commercial bank C. Building and Loan Association MLO D. An MLO of a non-depository firm that arranges mortgages for clieents - ANSWER-D What is the difference between mortgage lenders and brokers? - ANSWER-Mortg...
Which of the following practices would appear to violate RESPA Section 8? A) A disclosed payment to an affiliates B)A lender requiring a borrower to pay for their legal representation at closing C)A real estate agent with a brother in the mortgage business refers her customers to her brother. Sh...
Preview 2 out of 7 pages
Add to cartWhich of the following practices would appear to violate RESPA Section 8? A) A disclosed payment to an affiliates B)A lender requiring a borrower to pay for their legal representation at closing C)A real estate agent with a brother in the mortgage business refers her customers to her brother. Sh...
RESPA - ANSWER-Real Estate Settlement Procedures Act; Allows borrowers to receive pertinent and timely disclosure regarding the nature and costs of the real estate settlement (closing) process; Enacted in 1974, the law was originally proposed to add more transparency to costs associated with certain...
Preview 4 out of 39 pages
Add to cartRESPA - ANSWER-Real Estate Settlement Procedures Act; Allows borrowers to receive pertinent and timely disclosure regarding the nature and costs of the real estate settlement (closing) process; Enacted in 1974, the law was originally proposed to add more transparency to costs associated with certain...
CFPB - ANSWER-Consumer Financial Protection Bureau: Part of the Dodd-Frank Act passed in 2010. It is focused on one goal: watching out for American consumers in the market for consumer financial products and services. This includes ensuring that consumers get the information they need to make the fi...
Preview 2 out of 11 pages
Add to cartCFPB - ANSWER-Consumer Financial Protection Bureau: Part of the Dodd-Frank Act passed in 2010. It is focused on one goal: watching out for American consumers in the market for consumer financial products and services. This includes ensuring that consumers get the information they need to make the fi...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.
No, you only buy this summary for R343,81. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
71184 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now