Hmda test - Study guides, Class notes & Summaries
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MLO SAFE NMLS safe test practice questions and answers 100% pass
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MLO SAFE NMLS safe test practice 
questions and answers 100% pass 
Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan 
terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called 
__________________________. Predatory Lending. 
RESPA-Real Estate Settlement Procedures Act The Federal Statute that deals with the 
settlement of residential mortgage loans. 
RESPA's section 9 Prohibits Home sellers from requiring h...
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NMLS PRACTICE TEST 2023 QUESTIONS WITH COMPLETE SOLUTIONS
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NMLS PRACTICE TEST 2023 QUESTIONS WITH COMPLETE SOLUTIONS 
 
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 to purchase 75 acres of land B. A farm loan 
C. A loan to purchase a property that includes a...
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NMLS Test Prep CompuCram Test Questions and answers graded A+ 2023
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NMLS Test Prep CompuCram Test Questions and answers graded A+ 2023A borrower signs the note and mortgage for a refinance on his principal residence on Thursday, Dec. 31. What is the earliest day the funds for this loan could be disbursed (assuming no bona fide financial hardship)? - correct answer Wednesday, Jan. 6 
 
Who manages the National Do Not Call Registry? - correct answer Federal Trade Commission 
 
What federal legislation regulates credit reporting agencies and lenders concerning cred...
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NMLS PRACTICE QUESTIONS WITH 100% CORRECT ANSWERS
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NMLS PRACTICE QUESTIONS WITH 100% CORRECT ANSWERS 
which federal agency administers Regulation B implementing ECOA, Rgulation C 
implementig HMDA and Regulation Z implementing TILA? - Correct Answer️️ - 
FEDERAL RESERVE SYSTEM 
the clause in a mortgage that allows the lender to foreclose if the borrower defaults is 
the - Correct Answer️️ -Acceleration Clause 
at closing a borrower may deposit funds to establish reserves for which of the following? 
- Correct Answer️️ -TAXES AND INSU...
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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
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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 
...
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NMLS Test Prep CompuCram Test Questions with 100% Correct Answers
- Exam (elaborations) • 15 pages • 2024
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NMLS Test Prep CompuCram Test 
Questions with 100% Correct Answers 
A borrower signs the note and mortgage for a refinance on his principal residence on 
Thursday, Dec. 31. What is the earliest day the funds for this loan could be disbursed 
(assuming no bona fide financial hardship)? - Correct Answer️️ -Wednesday, Jan. 6 
Who manages the National Do Not Call Registry? - Correct Answer️️ -Federal Trade 
Commission 
What federal legislation regulates credit reporting agencies and lenders ...
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NMLS Test Questions with accurate answers, Graded A. 2022/2023
- Exam (elaborations) • 16 pages • 2023
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NMLS Test Questions with accurate answers, Graded A. 2022/2023. 
Document Content and Description Below 
NMLS Test Questions with accurate answers, Graded A. 2022/2023. If an application for credit is DENIED based on the appraisal under ECOA (Reg B), how many days does the borrower have to request a copy and how many days does the lender have to deliver? - The borrower has 90 to request and the lender as 30 days to deliver. Appraisal equals? - Value What law allows the borrower to challenge the ...
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NMLS PRACTICE QUESTIONS WITH ALL CORRECT ANSWERS.docx
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NMLS PRACTICE QUESTIONS WITH ALL CORRECT ANSWERS.docx 
which federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? - Answer-FEDERAL RESERVE SYSTEM 
 
the clause in a mortgage that allows the lender to foreclose if the borrower defaults is the - Answer-Acceleration Clause 
 
at closing a borrower may deposit funds to establish reserves for which of the following? 
- Answer-TAXES AND INSURANCE 
 
in a qualification of an applica...
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MLO SAFE NMLS Practice Test 2024 (Updated) Questions & Correct Answers
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MLO SAFE NMLS Practice Test 2024 (Updated) Questions & Correct Answers 
 
Sample Question & Answer: 
 
 The illegal practice of inducing owners to sell their homes by suggesting that the ethnic or racial composition of the neighborhood is changing is called _____________________________. - Answer - Blockbusting 
 
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NMLS Laws and Regulations Latest Updated 2022 Rated A
- Exam (elaborations) • 51 pages • 2022
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CFPB Consumer Financial Protection Bureau 
What does the CFPB do? Regulates RESPA, TILA, ECOA, and HMDA 
FTC Federal Trade Commission 
What does the FTC do? Monitors Red Flag Rules 
RESPA Real Estate Settlement Procedures Act 
What does RESPA do? •Protects homeowners of Single, 1-4 family dwellings, condos, & 
homes manufactured on lot. 
•Educates borrowers costs of loan 
• Eliminates kickbacks and referral fees (section 8) 
• Establishes rules for escrow 
What Regulation is RESPA? Reg...
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