Mlo safe nmls exam - Study guides, Class notes & Summaries
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NMLS SAFE ACT MLO Exam - Federal Law 2023 updated to pass
- Exam (elaborations) • 37 pages • 2023
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NMLS SAFE ACT MLO Exam - Federal Law
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MLO SAFE NMLS safe test practice exam questions and answers
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MLO SAFE NMLS safe test practice exam questions and answers 
 
A loan subject to HOEPA allows prepayment penalties for the first ______ years of the loan. - Answer-2 (two) years 
 
Per the Dodd-Frank Act an abusive act would include which of the following: 
1. One that materially interferes with the consumers ability to understand the product or service. 
2. One that take unreasonable advantage of a consumers' lack of understanding. 
3. One that takes unreasonable advantage of the consumer's...
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NMLS SAFE ACT MLO Exam - Federal Law Exam Questions and Answers
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NMLS SAFE ACT MLO Exam - Federal Law Exam Questions and Answers
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NMLS SAFE ACT MLO Exam - Federal Law, Questions and Answers 2024
- Exam (elaborations) • 28 pages • 2024
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NMLS SAFE ACT MLO Exam - Federal Law
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NMLS Exam Questions with Correct Answers.docx
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NMLS Exam Questions with Correct A 
 
Acceleration Clause - Answer-Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) 
Alienation Clause (Due on Sale Clause) - Answer-Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) 
 
Appraiser Independance Requirements replaced HVCC - Answer-home valuation code of conduct 
 
Due on Demand Clause - Answer-(Considered a predatory practice) The lender ...
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NMLS Exam Study Guide Questions and Answers
- Exam (elaborations) • 31 pages • 2024
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NMLS Exam Study Guide Questions and Answers 
 
Nonrecourse Agreement - Answer-Loan agreement under which the collateral securing a loan is the unltimate source of repayment, and the lender cannot hold the borrower personably liable in the event of default. Lender can seize (and sell) the collateral but cannot seize non-pledged asset or property. 
 
ReConveyance - Answer-Method in which a lein is removed from a property when payment is made in full. 
 
Dodd-Frank Wall Street Reform and Consumer P...
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NMLS SAFE ACT MLO Exam - Ethics and Fraud full solved 2023
- Exam (elaborations) • 39 pages • 2023
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NMLS SAFE ACT MLO Exam - Ethics and Fraud
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NMLS SAFE ACT MLO EXAM- FEDERAL LAW EXAM 100% VERIFIED.
- Exam (elaborations) • 28 pages • 2023
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NMLS SAFE ACT MLO EXAM- FEDERAL LAW EXAM 100% VERIFIED.VNMLS SAFE ACT MLO EXAM- FEDERAL LAW EXAM 100% VERIFIED.NMLS SAFE ACT MLO EXAM- FEDERAL LAW EXAM 100% VERIFIED.NMLS SAFE ACT MLO EXAM- FEDERAL LAW EXAM 100% VERIFIED.NMLS SAFE ACT MLO EXAM- FEDERAL LAW EXAM 100% VERIFIED.NMLS SAFE ACT MLO EXAM- FEDERAL LAW EXAM 100% VERIFIED.
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NMLS SAFE ACT MLO Exam - Federal Law
- Exam (elaborations) • 37 pages • 2023
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NMLS SAFE ACT MLO Exam - Federal Law 
 
 
If a borrow is on the DO NOT CALL LIST and makes an inquiry about doing business with you in regards to a loan, when does right to contact them expire? 
 
A. 1 month 
B. 2 months 
C. 3 months 
D. 4 months - ANSWER-C. 3 months 
 
An established business relationship with a company also will be created if you make an inquiry to the company, or submit an application to it. This kind of established business relationship exists for three months after the inqu...
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NMLS SAFE ACT MLO Exam - Ethics and Fraud 2023/2024
- Exam (elaborations) • 39 pages • 2023
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NMLS SAFE ACT MLO Exam - Ethics and Fraud 2023/2024 
 
 
A lender provides a borrower with an initial amortization schedule for Private Mortgage Insurance (PMI) disclosure at loan closing for an adjustable-rate mortgage. The lender MUST also provide a written notice stating the 
 
A. Lender's right to increase the monthly payment amount for PMI 
 B. Borrower's right to refuse a PMI 
 C. Lender's right to extend the time for monthly payments for a PMI 
 D. Borrower's right to cancel PMI - ANS...
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