Nmls exam study questions Study guides, Class notes & Summaries

NMLS Exam Study Guide Exam Questions and Answers Which of the following is not considered one of the six essential pieces of information constituting an application under RESPA? - Answer-Loan program According to RESPA, when would fee splitting be allowed? - Answer-If all parties render a service A borrower receives a document which contains a list of all closing costs, a disclosure of the borrower credits received on the transaction, an estimate of the cash the borrower needs to bring ...

NMLS Math Exam Study Guide | 92 Questions And Answers

NMLS Exam Study Guide: RESPA Exam Questions with Correct Answers Thing of Value - Answer-A __________ may include gift cards, sports tickets, advertising space, marketing material bearing a real etate agent's information to give to his/her client, etc. True (Promotional items with the company logo are permitted to be given) - Answer-True or False: Promotional items with the company logo are permitted to be given. Regulation X - Answer-What regulation is RESPA? RESPA (Regulation X) -...

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 can demand repayment of the loan in ...

NMLS EXAM 2021 STUDY GUIDE REVIEW QUESTIONS AND ANSWERS BEST GRADED A+

Which of the following is NOT true about an Affiliated Business Arrangement Disclosure Statement? - Answer-The disclosure may be provided instead of the list of third-party service providers from which the borrower can shop for services Which of the following would most likely not be considered a federally-related mortgage loan as defined by RESPA? - Answer-Hard money, privately-placed loan The rule dealing with the accurate disclosure of the cost and terms of credit is: - Answer-Regulatio...