Mlo ethics - Study guides, Class notes & Summaries

NMLS SAFE ACT MLO Exam - Ethics and Fraud | 105 Questions And Answers

NMLS SAFE ACT MLO Exam - Ethics and Fraud Questions and Answers Already Passed 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...

NMLS SAFE ACT MLO Exam - Ethics And Fraud Study Guide Questions 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 ca...

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 ...

NMLS SAFE ACT MLO Exam - Ethics and Fraud

MLO FINAL UPDATED Actual Questions and CORRECT Answers Every Dec 31st - CORRECT ANSWER- Florida mortgage license expire: 3 - CORRECT ANSWER- The pre licensing course must contain how many hours of federal law? 3 - CORRECT ANSWER- The pre licensing course must contain how many hours of ethics material?

NMLS SAFE ACT MLO Exam - Ethics and Fraud Exam Questions With 100% Correct Answers 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...

NMLS SAFE ACT MLO Exam - Ethics and Fraud Exam Questions With 100% Correct Answers 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...

MLO – Ethics Questions and Answers | Latest Version | 2024/2025 | Already Passed __________ occurs when a lender denies services, either directly or indirectly, to a specific group of people, based on a property's location. - Redlining - False and deceptive advertisement - Blockbusting - Foreclosure deceit - Redlining ***Considered a form of discrimination, redlining occurs when a lender denies services, either directly or indirectly, to a specific group of people, bas...

NMLS SAFE ACT MLO Exam - Ethics and Fraud Questions and Answers | Latest Update | 2024/2025 | Graded A+ A broker whose negligence in preparing a sales contract allows the purchaser to void the agreement breaches her duty to her client of: A. Due care. B. Accuracy. C. Personal performance. D. Honesty. A. Due care. "Due care" refers to the licensee's obligation to ensure that all steps in the transaction process are followed with professionalism and accuracy. Errors that a broke...