Nmls safe test outline - Study guides, Class notes & Summaries

NMLS SAFE Test Outline Questions and Answers Latest (2023 / 2024) (Verified Answers)

SAFE TEST OUTLINE NMLS / NMLS SAFE Test 1– QUESTIONS AND ANSWERS

NMLS SAFE TEST REVIEW 2025/2026 SOLVED 100% CORRECT. When ordering an appraisal, it is illegal to- Correct Answer -Request that the appraiser return a minimum or specific value. Mortgage professionals are permitted to communicate their own or the borrower's opinion when ordering an appraisal; however, requesting a specific or minimum value is considered improper influence of an appraiser and is a serious ethical and legal violation. Borrower credit is- Correct Answer -An amount paid by ...

Under RESPA, the servicer may require a borrower to pay into an escrow account to cover disbursements that are unanticipated or disbursements made before the borrower's monthly payments are available in the account, a cushion or reserve that must be no greater than _____ of the estimated total annual disbursements from the escrow account. The answer is one sixth. Under RESPA, a lender may require the borrower to establish an escrow account at closing. The loan servicer may require a borrower ...

NMLS Test Outline Questions and Answers Already Passed Document Content and Description Below NMLS Test Outline Questions and Answers Already Passed RESPA disclosures? due dates? 3 days after application: Home loan tool kit Loan estimate List of HUD counselors Mortgage Servicing D isclosure Statement Know before you owe booklet Special Info Booklet 3 days before consummation: Initial Closing Disclosure AfBA disclosure At consummation: Final Closing Disclosure Initial Escrow Statement (45 days ...