Loan officer nmls Study guides, Class notes & Summaries

NMLS loan officer

NMLS Final Exam Questions with Correct A Who is responsible for ensuring that the Closing Disclosure is delivered to the consumer? A.The creditor B.The loan processor C.The consumer D. The CFPB - Answer-A. the creditor 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 - Answer-C. Gramm-Leach-Bliley Act Which do...

AZ NMLS TEST QUESTIONS WITH CORRECT ANSWERS Arizona Department of Financial Institutions regulates: CORRECT ANSWER brokers bankers escrow officers motor vehicle dealers Etc. AZDFI checks financial instructions every... CORRECT ANSWER 5 years The superintendent is the _____, is appointed by _____ and serves for a term of _____ CORRECT ANSWER Chief Officer; Governor; 5 years The superintendent needs at least ____ years of experience in the financial industry to serve CORRECT ANSWER 5...

NMLS Test Questions and Answers All C The S.A.F.E. Act applies to mortgage loan originators who take applications for, or offer or negotiate terms of, residential mortgage loans, which would include: Land to be used for agricultural purposes An apartment building with 30 units A dwelling secured by a mortgage, but not secured by a trust deed A mobile home to be used as a residence, even if it is not attached to the land - Answer- a mobile home to be used as a residence, even if it is not att...

ancial Regulation (OFR or the Office) Does what? oversees all financial institutions in the state of Florida. Within the Office, there are three Divisions What are the the three divisions in the OFR ? The Division of Finance, the Division of Financial Institutions, and the Division of Securities. The Division of Finance (the Division) Does what ? oversees the regulation of non-depository financial services professionals including mortgage loan originators,mortgage brokers, and m...

NMLS loan officer

NMLS Practice Test Questions and Answers latest updated 2024 1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days •90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance cost of fund index Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:07 / 0:15 Full screen 3) Subordinate financing relates to ...

Florida Office of Financial Regulation (OFR or the Office) Does what? oversees all financial institutions in the state of Florida. Within the Office, there are three Divisions What are the the three divisions in the OFR ? The Division of Finance, the Division of Financial Institutions, and the Division of Securities. The Division of Finance (the Division) Does what ? oversees the regulation of non-depository financial services professionals including mortgage loan originators,mo...

UST Quiz and answer rated A+ 2024 The functions of participating in the NMLS, conducting background checks, and writing rules and regulations are required under the SAFE Act by: a. a state licensing agency b. a state legislature c. a state Attorney General d. The CFPB - correct answer a. A state licensing agency 2. Sam Schmeal was a licensed loan officer under the employ of Mortgages R' Us 8 years ago. During his last year of employment Sam had his license revoked when it was discover...

NMLS Practice Exam Questions and A RESP does not apply to: a) Loans secured by a lien on a principal dwelling b) Federally related mortgage loans c)Subprime mortgage loans d)Loans for business, commercial and agricultural purposes - Answer-d) Loans for business, commercial and agricultural purposes Under the Fair Credit Reporting Act, which of the following entities has the burden of protecting a consumer's privacy when his/her credit information is being reported? a) Credit repor...