Nmls ethics Study guides, Class notes & Summaries

NMLS Ethics Test Questions and Answers All Correct When ordering an appraisal, it is illegal to... - Answer-Request that the appraiser return a minimum or specific value. You Mortgage professionals are permitted to communicate their own or the borrower's opinion when order an appraisal; however, requesting a specific or minimum value is considered improper influence of an appraiser and is a serious ethical/legal violation. Borrower credit it - Answer-An amount paid by the lender to a thi...

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

NMLS Ethics Test Questions and Answers All C When ordering an appraisal, it is illegal to... - Answer-Request that the appraiser return a minimum or specific value. You Mortgage professionals are permitted to communicate their own or the borrower's opinion when order an appraisal; however, requesting a specific or minimum value is considered improper influence of an appraiser and is a serious ethical/legal violation. Borrower credit it - Answer-An amount paid by the lender to a third pa...

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 SAFE ACT MLO Exam - Ethics and Fraud

NMLS SAFE ACT MLO Exam - Ethics and Fraud

SAFE Act/ Uniform State Test (UST) Latest Update Graded A+ SAFE Act purpose is to create uniform regulation of mortgage loan originators in every state Secure and Fair Enforcement for Mortgage Licensing Act of 2008 SAFE Act Regulation H for state licensed Regulation G for Federal Depository Institutions Before the crash of 2007, there was very little regulation of... Loan Originators HERA was created... The Housing and Economic Recovery Act was created to regulate those who ori...

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...

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...