What is a refi loan - Study guides, Class notes & Summaries
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NMLS SAFE EXAM 2024 WITH VERIFIED ANSWERS.
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NMLS SAFE EXAM 2024 WITH VERIFIED ANSWERS. 
What does TILA stand for? - correct answer Truth-In-Lending Act, Regulation Z 
 
What is a HELOC loan? - correct answer a secured loan in that you are borrowing against the equity that has been built in your house 
 
What is a REFI loan? - correct answer 
 
LTV stands for - correct answer Loan to Value 
 
Define PMI and state what the acronym stands for. - correct answer Private mortgage insurance- on conventional loans 
 
Define one time variable fun...
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NMLS SAFE EXAM 2024 Questions With Verified Answers
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NMLS SAFE EXAM 2024 Questions With 
Verified Answers 
What does TILA stand for? - answerTruth-In-Lending Act, Regulation Z 
What is a HELOC loan? - answera secured loan in that you are borrowing against the equity 
that has been built in your house 
What is a REFI loan? - answer 
LTV stands for - answerLoan to Value 
Define PMI and state what the acronym stands for. - answerPrivate mortgage insurance- on 
conventional loans 
Define one time variable funding fee and people in what situations is i...
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NMLS SAFE EXAM 2023-2024 WITH COMPLETE SOLUTIONS
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NMLS SAFE EXAM WITH COMPLETE SOLUTIONS 
 
NMLS SAFE EXAM WITH COMPLETE SOLUTIONS 
 
NMLS SAFE EXAM WITH COMPLETE SOLUTIONS 
 
What does TILA stand for? - ANSWER-Truth-In-Lending Act, Regulation Z 
 
What is a HELOC loan? - ANSWER-a secured loan in that you are borrowing against the equity that has been built in your house 
 
What is a REFI loan? - ANSWER- 
 
LTV stands for - ANSWER-Loan to Value 
 
Define PMI and state what the acronym stands for. - ANSWER-Private mortgage insurance- on conve...
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XINNIX FLIGHT SCHOOL QUESTIONS WITH COMPLETE SOLUTIONS
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The rate lock period for a refi, with a right of rescission, must be long enough to cover the rescission period. correct answer: True 
 
How long does a borrower have to wait to buy a home after they have had a foreclosure? FHA correct answer: 3 years 
 
What are the steps you should follow to determine the correct MI? correct answer: LTV, term, product type, occupancy type and coverage. 
 
Typically, files that have to be manually underwritten are subject to less strict guidelines. correct a...
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NMLS Test Questions + Answers Graded A+
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1. bank 
2. commercial bank 
3. savings & loans 
4. credit union 
5. mortgage broker 
6. mortgage banker - 1. bank - full service 
2. commercial bank - originate largest amount of loans without using depositor's funds. 
3. savings & loans - smaller local banks that use depositors funds to originate residential mortgage loans. 
AKA savings bank or thrift 
4. credit union - takes deposits from members and pay dividends. Offer high interest rates to depositors 
and low loan rates to borrowers. 
5....
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NMLS SAFE EXAM 2023 WITH 100% CORRECT ANSWERS
- Exam (elaborations) • 21 pages • 2023
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What does TILA stand for? - correct answerTruth-In-Lending Act, Regulation Z 
 
What is a HELOC loan? - correct answera secured loan in that you are borrowing against the equity that has been built in your house 
 
What is a REFI loan? - correct answer 
 
LTV stands for - correct answerLoan to Value 
 
Define PMI and state what the acronym stands for. - correct answerPrivate mortgage insurance- on conventional loans 
 
Define one time variable funding fee and people in what situations is it waiv...
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NMLS SAFE EXAM 2024 with Guaranteed Accurate Answers
- Exam (elaborations) • 21 pages • 2024
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What does TILA stand for? - correct answer Truth-In-Lending Act, Regulation Z 
 
What is a HELOC loan? - correct answer a secured loan in that you are borrowing against the equity that has been built in your house 
 
What is a REFI loan? - correct answer 
 
LTV stands for - correct answer Loan to Value 
 
Define PMI and state what the acronym stands for. - correct answer Private mortgage insurance- on conventional loans 
 
Define one time variable funding fee and people in what situations is it...
-
NMLS SAFE EXAM 2023 WITH 100% CORRECT ANSWERS
- Exam (elaborations) • 21 pages • 2023
-
Available in package deal
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- $16.49
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What does TILA stand for? - correct answerTruth-In-Lending Act, Regulation Z 
 
What is a HELOC loan? - correct answera secured loan in that you are borrowing against the equity that has been built in your house 
 
What is a REFI loan? - correct answer 
 
LTV stands for - correct answerLoan to Value 
 
Define PMI and state what the acronym stands for. - correct answerPrivate mortgage insurance- on conventional loans 
 
Define one time variable funding fee and people in what situations is it waiv...
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HUD STUDY GUIDE EXAM AND 100% CORRECT ANSWERS 2024.
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Types of Credit Used - Answer Student loan or credit cards only 
 
FAKO scores - Answer purchase score which are educational score 
 
Fair Credit Reporting Act FCRA - Answer what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights 
 
Fair and Accurate Credit Transactions Act FACTA - Answer free cbrs/fraud alert/truncate cc #s 
 
Fair Credit Billing Act (FCBA) - Answer dispute bill error/mail 60 days/creditor 30 days ackno...
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NMLS SAFE EXAM questions with correct answers
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What does TILA stand for? Answer Truth-In-Lending Act, Regulation Z 
 
What is a HELOC loan? Answer a secured loan in that you are borrowing against the equity that has been built in your house 
 
What is a REFI loan? Answer 
 
LTV stands for Answer Loan to Value 
 
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 survivin...
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