California State NMLS Practice Test Exam Questions with Correct Answers 2 Exam (elaborations) Module 1 NMLS exam questions with complete answers latest update 3 Exam (elaborations) Mortgage NMLS Exam Questions with Correct Answers 4 Exam (elaborations) NMLS - Champion Test Exam Questions and Ans...
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Practice NMLS test - 20 Hour Safe Exam Review Questions and Answers Which of the following would be ways that Fannie Mae impacts the primary mortgage market? a. it ultimately serves to provide additional funds for the primary market b. it influences lenders' standards for making mortgage loans...
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Añadir al carritoPractice NMLS test - 20 Hour Safe Exam Review Questions and Answers Which of the following would be ways that Fannie Mae impacts the primary mortgage market? a. it ultimately serves to provide additional funds for the primary market b. it influences lenders' standards for making mortgage loans...
NMLS Safe Test Mortgage Licensing Practice Exam Questions and Answers A Latina applies to a mortgage company for a home loan. She is refused based on the reputation of the neighborhood for a high number of foreclosures. This is an example of what illegal practice? - Answer-Redlining Which Act ...
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Añadir al carritoNMLS Safe Test Mortgage Licensing Practice Exam Questions and Answers A Latina applies to a mortgage company for a home loan. She is refused based on the reputation of the neighborhood for a high number of foreclosures. This is an example of what illegal practice? - Answer-Redlining Which Act ...
NMLS SAFE EXAM QUESTIONS AND ANSWERS LATEST Define PMI and state what the acronym stands for. - Answer-Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - Answer-Disabled veterans and surviving spouses. US...
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Añadir al carritoNMLS SAFE EXAM QUESTIONS AND ANSWERS LATEST Define PMI and state what the acronym stands for. - Answer-Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - Answer-Disabled veterans and surviving spouses. US...
NMLS S.A.F.E Exam Practice Exam Questions with Correct Answers An individual who is an employee of a depository institution or a subsidiary of a depository institution meets the definition of a loan originator, defined as a(n): a. Licensed mortgage loan originator b. Exempt mortgage loan orig...
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Añadir al carritoNMLS S.A.F.E Exam Practice Exam Questions with Correct Answers An individual who is an employee of a depository institution or a subsidiary of a depository institution meets the definition of a loan originator, defined as a(n): a. Licensed mortgage loan originator b. Exempt mortgage loan orig...
NMLS Practice Test Hard Questions with 100% Correct Answers According to the Truth-in-Lending Act (TILA), which if the following fees is EXCLUDED from the calculation of the annual percentage rate? A.) Hazard insurance B.) Wire transfer C.) Prepaid interest D.) Mortgage insurance premiums -...
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Añadir al carritoNMLS Practice Test Hard Questions with 100% Correct Answers According to the Truth-in-Lending Act (TILA), which if the following fees is EXCLUDED from the calculation of the annual percentage rate? A.) Hazard insurance B.) Wire transfer C.) Prepaid interest D.) Mortgage insurance premiums -...
NMLS Practice Test Exam Questions with Complete Answers 9) When a telemarketer calls a person on the do not call list in violation of the do not call regulations, he is subject to a fine of $5,000. •$7,500. •$12,000. •$16,000 - Answer-16,000 10) An escrow account is set up to ...
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Añadir al carritoNMLS Practice Test Exam Questions with Complete Answers 9) When a telemarketer calls a person on the do not call list in violation of the do not call regulations, he is subject to a fine of $5,000. •$7,500. •$12,000. •$16,000 - Answer-16,000 10) An escrow account is set up to ...
NMLS PRACTICE EXAM QUESTIONS WITH CORRECT ANSWERS test mortgage transferred servicing rights of some of its mortgage loans to answer mortgage, Lender must send a servicing transfer statement to the affected borrowers how many days before the effective date of transfer? - Answer-15 days before t...
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Añadir al carritoNMLS PRACTICE EXAM QUESTIONS WITH CORRECT ANSWERS test mortgage transferred servicing rights of some of its mortgage loans to answer mortgage, Lender must send a servicing transfer statement to the affected borrowers how many days before the effective date of transfer? - Answer-15 days before t...
NMLS MLO Exam Questions and Answers Max prepayment penalty on residential mortgages in the first year of the loan - Answer-3% What must condominium associations do with respect to property insurance? - Answer-Keep a "blanket" policy that protects the entire structure If a lender is planni...
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Añadir al carritoNMLS MLO Exam Questions and Answers Max prepayment penalty on residential mortgages in the first year of the loan - Answer-3% What must condominium associations do with respect to property insurance? - Answer-Keep a "blanket" policy that protects the entire structure If a lender is planni...
NMLS Exam Study Guide Questions and Answers Nonrecourse Agreement - Answer-Loan agreement under which the collateral securing a loan is the unltimate source of repayment, and the lender cannot hold the borrower personably liable in the event of default. Lender can seize (and sell) the collateral ...
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Añadir al carritoNMLS Exam Study Guide Questions and Answers Nonrecourse Agreement - Answer-Loan agreement under which the collateral securing a loan is the unltimate source of repayment, and the lender cannot hold the borrower personably liable in the event of default. Lender can seize (and sell) the collateral ...
NMLS Exam Review Questions with Verified Answers- Latest Money paid by a buyer to a seller at the time of entering into a contract to indicate intent and ability to carry out the contract is called: A. Down payment B. Earnest money C. Escrow funds D. Service release premium - Answer-B. Earne...
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Añadir al carritoNMLS Exam Review Questions with Verified Answers- Latest Money paid by a buyer to a seller at the time of entering into a contract to indicate intent and ability to carry out the contract is called: A. Down payment B. Earnest money C. Escrow funds D. Service release premium - Answer-B. Earne...
NMLS EXAM 1 Questions with Complete Solutions 7) Which of the following agencies reviewed and approved the model state law written by CSBS and AARMR: A. HUD B. USDA C. Dept of Veterans Affairs D. OTS - Answer-A. Yes, the Department of Housing and Urban Development reviewed the legislation fo...
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Añadir al carritoNMLS EXAM 1 Questions with Complete Solutions 7) Which of the following agencies reviewed and approved the model state law written by CSBS and AARMR: A. HUD B. USDA C. Dept of Veterans Affairs D. OTS - Answer-A. Yes, the Department of Housing and Urban Development reviewed the legislation fo...
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NMLS 2023/2024 Exam Questions with Correct Answers Bridge loan: - Answer-A bridge loan is a loan for a short duration of time and can be used when one is purchasing one property but is dependent on the equity from another property that has not yet been sold. Once the property is sold then the bri...
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Añadir al carritoNMLS 2023/2024 Exam Questions with Correct Answers Bridge loan: - Answer-A bridge loan is a loan for a short duration of time and can be used when one is purchasing one property but is dependent on the equity from another property that has not yet been sold. Once the property is sold then the bri...
MLO SAFE NMLS safe test practice exam questions and answers A loan subject to HOEPA allows prepayment penalties for the first ______ years of the loan. - Answer-2 (two) years Per the Dodd-Frank Act an abusive act would include which of the following: 1. One that materially interferes with the...
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Añadir al carritoMLO SAFE NMLS safe test practice exam questions and answers A loan subject to HOEPA allows prepayment penalties for the first ______ years of the loan. - Answer-2 (two) years Per the Dodd-Frank Act an abusive act would include which of the following: 1. One that materially interferes with the...
NMLS final exam questions with 100% Correct answers Which document actually contains the borrower's promise to repay the loan? A. The deed B. The mortgage C. The note D. The TIL Disclosure - Answer-C. The note The practice of intentionally targeting borrowers in poor or underserved are...
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Añadir al carritoNMLS final exam questions with 100% Correct answers Which document actually contains the borrower's promise to repay the loan? A. The deed B. The mortgage C. The note D. The TIL Disclosure - Answer-C. The note The practice of intentionally targeting borrowers in poor or underserved are...
SAFE NMLS Exam Prep Questions with Correct Answers The Good Faith Estimate/Loan Estimate must be sent to the borrower within how many business days of receiving a loan application? - Answer-A. 1 B. 3 C. 5 D. 10 B. The Special Information Booklet must be sent to the borrower within how ma...
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Añadir al carritoSAFE NMLS Exam Prep Questions with Correct Answers The Good Faith Estimate/Loan Estimate must be sent to the borrower within how many business days of receiving a loan application? - Answer-A. 1 B. 3 C. 5 D. 10 B. The Special Information Booklet must be sent to the borrower within how ma...
NMLS TEST-Affinity Exam Questions with Complete Solutions Which regulation requires the lenders to "BE EQUAL" when extending credit to borrowers? - Answer-ECOA How old must a borrower be to qualify for a Reverse Mortgage? - Answer-62 years old Which regulation has the primary function of ...
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Añadir al carritoNMLS TEST-Affinity Exam Questions with Complete Solutions Which regulation requires the lenders to "BE EQUAL" when extending credit to borrowers? - Answer-ECOA How old must a borrower be to qualify for a Reverse Mortgage? - Answer-62 years old Which regulation has the primary function of ...
NMLS Test Exam Questions with Correct Answers (Rated A+) How long are Loan Estimate terms available? - Answer-10 business days What if the changed circumstance causes third party charges subject to a cumulative 10% tolerance to increase? - Answer-creditor must send a revised Loan Estimate and ...
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Añadir al carritoNMLS Test Exam Questions with Correct Answers (Rated A+) How long are Loan Estimate terms available? - Answer-10 business days What if the changed circumstance causes third party charges subject to a cumulative 10% tolerance to increase? - Answer-creditor must send a revised Loan Estimate and ...
NMLS SAFE EXAM PREP QUESTIONS AND ANSWERS HMDA allows to see - Answer-where possible discrimination takes place Where is HMDA found - Answer-Section 10 of the 1003 loan app PMI - Answer-Private mortgage insurance TILA deals with - Answer-advertising of loans, cerdit, APR PMI protects ...
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Añadir al carritoNMLS SAFE EXAM PREP QUESTIONS AND ANSWERS HMDA allows to see - Answer-where possible discrimination takes place Where is HMDA found - Answer-Section 10 of the 1003 loan app PMI - Answer-Private mortgage insurance TILA deals with - Answer-advertising of loans, cerdit, APR PMI protects ...
NMLS SAFE ACT MLO Exam - Federal Law Exam Questions with Correct Answers (100% Pass) Which Regulation corresponds to The Real Estate Settlement Procedures Act (RESPA) ? A. regulation Y B. regulation V C. regulation Z D. regulation X - Answer-D. regulation X The term "Regulation X" can ...
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Añadir al carritoNMLS SAFE ACT MLO Exam - Federal Law Exam Questions with Correct Answers (100% Pass) Which Regulation corresponds to The Real Estate Settlement Procedures Act (RESPA) ? A. regulation Y B. regulation V C. regulation Z D. regulation X - Answer-D. regulation X The term "Regulation X" can ...
NMLS Laws and Regulations Exam Questions with Complete Solutions Who oversees RESPA? - Answer-(CFPB) Consumer Financial Protection Bureau How long must records be kept under RESPA? - Answer-5 years (RESPA has 5 letters= 5 letters of record keeping) What are the penalties for violating RES...
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Añadir al carritoNMLS Laws and Regulations Exam Questions with Complete Solutions Who oversees RESPA? - Answer-(CFPB) Consumer Financial Protection Bureau How long must records be kept under RESPA? - Answer-5 years (RESPA has 5 letters= 5 letters of record keeping) What are the penalties for violating RES...
NMLS KEY WORDS SAFE EXAM QUESTIONS WITH CORRECT ANSWERS Amount financed - Answer-It means the amount of money you are borrowing from the lender, minus most of the upfront fees the lender is charging you. Annual income - Answer-Annual income is a factor in a mortgage loan application and genera...
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Añadir al carritoNMLS KEY WORDS SAFE EXAM QUESTIONS WITH CORRECT ANSWERS Amount financed - Answer-It means the amount of money you are borrowing from the lender, minus most of the upfront fees the lender is charging you. Annual income - Answer-Annual income is a factor in a mortgage loan application and genera...
NMLS Final Exam Questions and Answers Latest Which of the following is one of the stated reasons for implementing the integrated mortgage disclosure forms? a. To reduce identity theft b. To permit lenders to collect fees earlier c. To lower borrowers' costs d. To use clear language that ...
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Añadir al carritoNMLS Final Exam Questions and Answers Latest Which of the following is one of the stated reasons for implementing the integrated mortgage disclosure forms? a. To reduce identity theft b. To permit lenders to collect fees earlier c. To lower borrowers' costs d. To use clear language that ...
NMLS Final Exam Questions and Answers (100% Pass) Which is NOT under the responsibility of and enforced by the Consumer Financial Protection Bureau (CFPB)? - Answer-Federal Fair Housing Act Which of the following is considered a triggering event? - Answer-Termination of mortgage insurance I...
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Añadir al carritoNMLS Final Exam Questions and Answers (100% Pass) Which is NOT under the responsibility of and enforced by the Consumer Financial Protection Bureau (CFPB)? - Answer-Federal Fair Housing Act Which of the following is considered a triggering event? - Answer-Termination of mortgage insurance I...
NMLS Exam Study Guide: RESPA Exam Questions with Correct Answers True (Promotional items with the company logo are permitted to be given) - Answer-True or False: Promotional items with the company logo are permitted to be given. Regulation X - Answer-What regulation is RESPA? RESPA (Regulat...
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Añadir al carritoNMLS Exam Study Guide: RESPA Exam Questions with Correct Answers True (Promotional items with the company logo are permitted to be given) - Answer-True or False: Promotional items with the company logo are permitted to be given. Regulation X - Answer-What regulation is RESPA? RESPA (Regulat...
NMLS Exam Study Guide Exam Questions and Answers According to RESPA, when would fee splitting be allowed? - Answer-If all parties render a service A borrower receives a document which contains a list of all closing costs, a disclosure of the borrower credits received on the transaction, an est...
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Añadir al carritoNMLS Exam Study Guide Exam Questions and Answers According to RESPA, when would fee splitting be allowed? - Answer-If all parties render a service A borrower receives a document which contains a list of all closing costs, a disclosure of the borrower credits received on the transaction, an est...
NMLS Exam Review Questions with Correct Answers Fine up to $10,000 and/or prison for one year - Answer-Violation of kickback policies can result in Title insurance - Answer-Protects against defects in title that were not listed on title report Title Insurance - Answer-Protects from claims a...
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Añadir al carritoNMLS Exam Review Questions with Correct Answers Fine up to $10,000 and/or prison for one year - Answer-Violation of kickback policies can result in Title insurance - Answer-Protects against defects in title that were not listed on title report Title Insurance - Answer-Protects from claims a...
NMLS Exam Questions with verified Answers (Graded A+) The main purpose of Regulation V is to - Answer-create reasonable procedures about confidentiality and accuracy of credit consumer information. When disclosing the amount of premium for title insurance: - Answer-The creditor must disclose t...
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Añadir al carritoNMLS Exam Questions with verified Answers (Graded A+) The main purpose of Regulation V is to - Answer-create reasonable procedures about confidentiality and accuracy of credit consumer information. When disclosing the amount of premium for title insurance: - Answer-The creditor must disclose t...
NMLS Exam Questions with Verified Answers (100% Guaranteed Pass) Which of the following federal regulations prohibits discrimination based on race, color, religion, sex, marital status, or national origin in a credit transaction? - Answer-ECOA According to the standard deed of trust, how soon ...
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Añadir al carritoNMLS Exam Questions with Verified Answers (100% Guaranteed Pass) Which of the following federal regulations prohibits discrimination based on race, color, religion, sex, marital status, or national origin in a credit transaction? - Answer-ECOA According to the standard deed of trust, how soon ...
NMLS Exam Questions with Correct Answers (Definite Pass) How many total hours of ethics are required, at minimum, for continuing education? Three Eight Two Eleven - Answer-two Intentionally targeting borrowers in poor or underserved areas with expensive high-cost loans is considered illega...
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Añadir al carritoNMLS Exam Questions with Correct Answers (Definite Pass) How many total hours of ethics are required, at minimum, for continuing education? Three Eight Two Eleven - Answer-two Intentionally targeting borrowers in poor or underserved areas with expensive high-cost loans is considered illega...
NMLS Exam Questions with Complete Solutions Latest Update c) Loan servicing - Answer-Section 6 of RESPA pertains to: a) Annual escrow settlement b) kickbacks c) loan servicing c) 3 business days of loan application - Answer-The mortgage servicing disclosure statement or ISDS must be pr...
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Añadir al carritoNMLS Exam Questions with Complete Solutions Latest Update c) Loan servicing - Answer-Section 6 of RESPA pertains to: a) Annual escrow settlement b) kickbacks c) loan servicing c) 3 business days of loan application - Answer-The mortgage servicing disclosure statement or ISDS must be pr...
NMLS exam Questions with 100% Verified Answers (Rated A+) margin - Answer-The portion of the ARM that cannot change and is used to compute the interest rate on a variable rate mortgage is known as the note - Answer-the promise to pay is outlined in this document covenants - Answer-The promi...
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Añadir al carritoNMLS exam Questions with 100% Verified Answers (Rated A+) margin - Answer-The portion of the ARM that cannot change and is used to compute the interest rate on a variable rate mortgage is known as the note - Answer-the promise to pay is outlined in this document covenants - Answer-The promi...
Nmls exam 2 questions with complete solutions (Graded A+) To inform the consumer the likelihood that the mortgage could be sold - Answer-Which is NOT a purpose for the Mortgage Servicing Disclosure Statement? income level - Answer-Identify which attribute is not considered illegal discriminati...
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Añadir al carritoNmls exam 2 questions with complete solutions (Graded A+) To inform the consumer the likelihood that the mortgage could be sold - Answer-Which is NOT a purpose for the Mortgage Servicing Disclosure Statement? income level - Answer-Identify which attribute is not considered illegal discriminati...
NMLS - Champion Test Exam Questions and Answers Under ECOA, providing different terms of financing for a potential borrower who has poor credit scores due to a recent bankruptcy is considered? - Answer-Acceptable Which law sets forth escrow requirements for higher priced mortgage loans? - An...
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Añadir al carritoNMLS - Champion Test Exam Questions and Answers Under ECOA, providing different terms of financing for a potential borrower who has poor credit scores due to a recent bankruptcy is considered? - Answer-Acceptable Which law sets forth escrow requirements for higher priced mortgage loans? - An...
Mortgage NMLS Exam Questions with Correct Answers Deed of Trust - Answer-Legal document between lender and borrower (aka the trustor) which is used in some states instead of a mortgage to transfer a property's legal title to a neutral third party (trustee) to secure the repayment of loan. Dis...
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Añadir al carritoMortgage NMLS Exam Questions with Correct Answers Deed of Trust - Answer-Legal document between lender and borrower (aka the trustor) which is used in some states instead of a mortgage to transfer a property's legal title to a neutral third party (trustee) to secure the repayment of loan. Dis...
Module 1 NMLS exam questions with complete answers latest update A permissible purpose is required... - Answer-When obtaining a credit report. Under FCRA, lenders and mortgage progessionals must provide the consumer reporting agency with a certification of permissible purpose in order to pull cre...
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Añadir al carritoModule 1 NMLS exam questions with complete answers latest update A permissible purpose is required... - Answer-When obtaining a credit report. Under FCRA, lenders and mortgage progessionals must provide the consumer reporting agency with a certification of permissible purpose in order to pull cre...
California State NMLS Practice Test Exam Questions with Correct Answers A mortgage company advertises for loans in both Spanish and English. Which of the following statements is true? Answers A. The mortgage company must provide the key disclosures such as the TIL and Good Faith Estimate in...
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Añadir al carritoCalifornia State NMLS Practice Test Exam Questions with Correct Answers A mortgage company advertises for loans in both Spanish and English. Which of the following statements is true? Answers A. The mortgage company must provide the key disclosures such as the TIL and Good Faith Estimate in...
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