Nmlsr - Study guides, Class notes & Summaries
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Champions School of Real Estate Finance Questions & Correct Answers/ Graded A+
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Seller's market 
: When supply is low and demand is high 
Buyer's market 
: When supply is high and demand is low 
The process of creating a new mortgage loan 
: Origination 
The detailed process of evaluating a borrower's loan application to determine the risk involved for 
the lender 
: Underwriting 
When there is an excess of money supply in the market 
: Monetary inflation 
2 
Which agency insures deposits in bank and thrift institution for up to $250,000? 
: Federal Deposit Insurance Co...
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Real Estate Finance Champions Exam With Correct Solutions 2024.
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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 b...
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UST Test Prep | Questions with 100% Correct Answers | Verified | Latest Update 2024
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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 ...
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UST Test Prep 4 Questions and Answers 2024
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UST Test Prep 4 Questions and Answers 2024 
True or False? The Regulator has both summons and examination authority over 
any loan originator as may be relevant or material to an investigation of such loan 
originator for compliance with the licensing requirements. - ANS ️️ True 
True or False? A registered loan originator does not need to maintain a unique 
identifier through the NMLSR so long as he or she works for a subsidiary that is 
regulated by a federal banking agency. - ANS ️️ F...
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Champions real estate finance Questions and Correct Answers Latest Update
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Champions real estate finance Questions and 
Correct Answers Latest Update 
_____ is the consummation of a contractual real estate transaction in which all appropriate documents 
are signed, and the mortgage loan proceeds are disbursed by the lender. - Answer -Closing 
The primary determinants of real estate values are supply and _____. - Answer -Demand 
_____ is something of value that can be pledged as security for repayment of a loan. - Answer -Collateral 
Servicing includes which of the foll...
Too much month left at the end of the money?
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Champions School Of Real Estate – FINANCE Questions & Correct Answers/ Graded A+
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The process of creating a new mortgage loan, including all steps taken by a lender to attract and 
qualify a borrower are _____. 
: Origination activities 
The process of evaluating a borrower's loan application to determine the risk involved for the lender 
is 
: Underwriting 
Which of the following Federal Fair Housing statues prohibit housing discrimination 
: National Origin 
All residential mortgage loan originators must now be registered with the ______. 
: Nationwide Mortgage Licensing...
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The SAFE Mortgage Loan Originator National Exam Study Guide practice e/ LATEST EXAM PREDICTIONS UPDATES, APPROVED. xam 2 Questions and answers, verified/The SAFE Mortgage Loan Originator National
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The SAFE Mortgage Loan Originator 
National Exam Study Guide practice 
exam 2 Questions and answers, verified/ 
1. Which of the following is NOT a loan origination activity? - -C. Assisting in a loan modification 
2. A unilateral contract is binding on: - -A. One party 
3. Loan originator organizations must keep compensation records for how many years? - -C. Three 
4. Mortgage companies must submit a residential loan origination activity report to the NMLSR every: - 
-B. Three months 
5. How m...
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Champions School Of Real Estate – FINANCE Questions & Answers (rated A)
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Champions School Of Real Estate – FINANCE Questions & Answers (rated A) 
The process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower are _____. - ANSWERSOrigination activities 
 
The process of evaluating a borrower's loan application to determine the risk involved for the lender is - ANSWERSUnderwriting 
 
Which of the following Federal Fair Housing statues prohibit housing discrimination - ANSWERSNational Origin 
 
All residential mor...
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Champions Finance Questions &Answers 100% Correct!!
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Three of the major credit data repositories: - ANSWERSExperian, Equifax, TransUnion 
 
The process of creating a new mortgage loan: - ANSWERSOrigination 
 
Loan application to determine the risk involved for lender is defined as: - ANSWERSUnderwriting 
 
Fiscal policy, which is related to Federal Government spending is approved by: - ANSWERSUS Congress 
 
The US Treasury is responsible for raising money; funds can be raised by: - ANSWERSRaising taxes 
Increasing borrowing 
 
Why do lenders bear ...
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NMLS Study Questions with All Correct Answers.docx
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NMLS Study Questions with All Correct A 
 
 
State mortgage regulatory agencies - Answer-- Each state has a state regulatory authority that is responsible for the supervision and enforcement of the state laws regarding the mortgage industry. 
-In Illinois, The Bureau of Residential Finance, Mortgage Banking is responsible for the supervision, regulation and examination 
 
Regulatory power - Answer-- Requirement of state licensing and registration. 
-Investigatory authority. 
-State regulator gra...
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