NMLS

NMLS PRACTICE TEST HARD QUESTIONS AND CORRECT ANSWERS There are 10 days left in the month. The purchase price is $150,000, the loan amount is $100,000 and the interest rate is 6%. How much mortgage interest must the borrower pay at closing? A.) $164.38 B.) $250.00 C.) $440.20 D.) $2,739.73 ANSWA.) $164.38

MLO SAFE NMLS SAFE TEST PRACTICE QUESTIONS AND CORRECT ANSWERS The ratio that divides the loan amount by the lesser of the selling price or appraised value is called _______________. ANSWLTV, loan to value. An option that allows a borrower to change from an adjustable rate loan to a fixed rate loan is called a _________________ option. ANSWConversion Per ECOA, at closing a borrower is entitled to a copy of their appraisal or notification of their right to an appraisal. If notifie...

NMLS FINAL EXAM QUESTIONS AND CORRECT ANSWERS How long do consumers have to file a lawsuit over alleged violations of section 6 of RESPA? A. 6 months B. 1 year C. 3 years D. 7 years ANSWC. 3 years A home equity installment loan falls under HOEPA when the APR of the original mortgage on the home is at least ____ percentage points above the rates for Treasury securities with comparable maturities.

NMLS FINAL EXAM QUESTIONS AND CORRECT ANSWERS Overtime income may be considered for an hourly employees: a. If it has been consistent for less than two years and is likely to continue b. Only if it is being paid in the same paycheck c. If the earnings have been reported as wages d. If it has been consistent for at least two years and is likely to continue ANSWIf it has been consistent for at least two years and is likely to continue Consideration of a loan applicant's debt-to-...

NMLS SAFE EXAM 2022 QUESTIONS AND CORRECT ANSWERS The Red Flags Rule is authorized under what? ANSWFair and Accurate Credit Transaction Act of 2003 (FACTA) What does SAFE Act stand for and what does it establish? ANSW-Secure and Fair Enforcement for Mortgage Licensing Act -established minimum standards for licensure, requiring mortgage loan originators be either state licensed or federally registered Dodd-Frank Act of 2010 ANSW- Establishment of the Consumer Financial Protection Bur...

NMLS TEST FINAL EXAM AND PRACTICE EXAM QUESTIONS ACTUAL EXAM COMPLETE ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

NMLS TEST FINAL EXAM (VERSION A AND B) ACTUAL EXAM COMPLETE ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) /ALREADY GRADED A+

NMLS Test Prep CompuCram Test| Questions with Correct Answers| Verified

NMLS SAFE EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) "A. Age - CORRECT ANSWER All of the following are violations of the Fair Housing Act EXCEPT A. Age B. National Origin C. Disability D.Religion" "Encrumbrance - CORRECT ANSWER Claim against property held by one who is not the legal owner" "Trigger Term - CORRECT ANSWER Advertised term that requires additional disclosures" "Advertising Disclosure - CORRECT ANSWER An advertisement ...

NMLS FINAL EXAM ACTUAL ACCURATE EXAM QUESTIONS WITH DETAILED VERIFIED ANSWERS "Which law restricts the sharing of information given when a consumer applies for a mortgage loan? A. Fair Credit Reporting Act B. FTC Disposal Rules C. Gramm-Leach-Bliley Act D. Consumer Regulatory Protection Act - CORRECT ANSWER C. Gramm-Leach-Bliley Act" "The practice of intentionally targeting borrowers in poor or underserved areas with predatory loans is known as: A. Redlining B. Steeri...