Hmda exam 2024 - Study guides, Class notes & Summaries

NMLS PRACTICE TEST EXAM PROFIENCY HARD QUESTIONS 2022- 2024 / NATIONWIDE MORTGAGE LICENSING SYSTEM PRACTICE TEST HARD QUESTIONS WITH CORRECT ANSWERS|53% AND ABOVE PASSRATE GUARANTEE MUST NOT MISS  FEDERAL MORTGAGE RELATED LAW  UNIFORM STATE CONTENT  GENERAL MORTGAGE LAW  MORTGAGE LOAN ORIGINATION  ETHICS An annual escrow analysis is used to do which of the following? A. Ensure the loan is properly amortized B. Prevent escrow overages C. Reduce burden on the servicer ...

NMLS PRACTICE EXAM 2024 / NATIONWIDE MORTGAGE LICENSING SYSTEM PRACTICE ACTUAL TEST EXAM QUESTIONS AND CORRECT ANSWERS ALL GRADED A+| GUARANTEED PASS An annual escrow analysis is used to do which of the following? A. Ensure the loan is properly amortized B. Prevent escrow overages C. Reduce burden on the servicer D. Report underwriting errors -CORRECT ANSWER -- B. Prevent escrow overages The disclosure requirements of RESPA would apply to which of the following loans? A. A loan...

1. Which type of loan transaction is NOT covered under the HMDA reporting requirements? A. A loan secured by a multifamily dwelling B. An unsecured home improvement loan C. A loan to purchase a residential lot D. Both b and c - ANSWER-D. Both b and c Neither unsecured home improvement loans nor loans on unimproved land are covered transactions. As of January 1, 2018, HMDA coverage requires a lien on a dwelling. 2. In a review of a bank's home mortgage loan application register, wh...

©THEBRIGHT EXAM STUDY SOLUTIONS 8/26/2024 11:32 AM The CE Shop : Final Exam Questions And Correct Answers What is a general lien? A claim against a person and all of that person's property A claim against a specific piece of property A type of mortgage lien A type of tax lien - answerA claim against a person and all of that person's property Which of the following discriminatory practice does the Home Mortgage Disclosure Act (HMDA) seek to address? Blockbusting Credit reporting Mo...

NMLS PRACTICE TEST EXAM PROFIENCY HARD QUESTIONS 2023/2024 / NATIONWIDE MORTGAGE LICENSING SYSTEM PRACTICE TEST HARD QUESTIONS WITH VERIFIED ANSWERS |90% AND ABOVE PASSRATE MUST NOT MISS FEDERAL MORTGAGE RELATED LAW UNIFORM STATE CONTENT GENERAL MORTGAGE LAW MORTGAGE LOAN ORIGINATION ETHICS An annual escrow analysis is used to do which of the following? A. Ensure the loan is properly amortized B. Prevent escrow overages C. Reduce burden on the servicer D. Repor...

NMLS Exam Practice QUESTIONS AND ANSWERS RATED A+ 2023|2024 UPDATE Which federal legislation requires that the lender perform an annual audit of the escrow acct balance and distributions in order to bring the acct within $50 of the actual balance based on the previous 12 months disbursements? - ANSWER-RESPA Which advertising practice is prohibited by TILA? - ANSWER-using the term "counselor" in reference to a for-profit lender According to the new FHA rules effective June 2013, mortgag...