Nmls exam 2 - Study guides, Class notes & Summaries

Nmls Exam 2 Questions and Answers 100% Correct

NMLS EXAM 2021 Questions with Correct A Fraud for money Laundering - Answer--Criminal uses scheme known as value tampering -Criminal offers to buy house at reduced rate -Seller must sell at appraised value on paper, but after closing, seller give the criminal the difference in cash. Adverse Action - Answer-An unfavorable credit decision rendered against a consumer made on the basis of information contained on the credit application. If a lender takes adverse action against an applicant,...

Nmls exam 2

Fraud for money Laundering -Criminal uses scheme known as value tampering -Criminal offers to buy house at reduced rate -Seller must sell at appraised value on paper, but after closing, seller give the criminal the difference in cash. Adverse Action An unfavorable credit decision rendered against a consumer made on the basis of information contained on the credit application. If a lender takes adverse action against an applicant, the lender must notify the applicant in writing. If the adv...

Nmls exam 2 questions with complete solutions (Graded A+) To inform the consumer the likelihood that the mortgage could be sold - Answer-Which is NOT a purpose for the Mortgage Servicing Disclosure Statement? income level - Answer-Identify which attribute is not considered illegal discrimination in granting credit under the ECOA Dodd-Frank Act - Answer-Which act contains title X and title XIV The mortgage loan originator regretted overlooking liabilities in order to qualify the borro...

Fraud for money Laundering - answer-Criminal uses scheme known as value tampering -Criminal offers to buy house at reduced rate -Seller must sell at appraised value on paper, but after closing, seller give the criminal the difference in cash. Adverse Action - answerAn unfavorable credit decision rendered against a consumer made on the basis of information contained on the credit application. If a lender takes adverse action against an applicant, the lender must notify the applicant in writ...

Fraud for money Laundering - ANSWER -Criminal uses scheme known as value tampering -Criminal offers to buy house at reduced rate -Seller must sell at appraised value on paper, but after closing, seller give the criminal the difference in cash. Adverse Action - ANSWER An unfavorable credit decision rendered against a consumer made on the basis of information contained on the credit application. If a lender takes adverse action against an applicant, the lender must notify the applicant in w...

Nmls exam 2

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