Nmls test Study guides, Class notes & Summaries
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NMLS TEST-Affinity Questions and Answers 100% Correct
- Exam (elaborations) • 18 pages • 2023
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NMLS TEST-Affinity Questions and Answers 100% Correct 
 
 
NMLS TEST-Affinity Questions and Answers 100% Correct 
 
 
NMLS TEST-Affinity Questions and Answers 100% Correct 
 
 
NMLS TEST-Affinity Questions and Answers 100% Correct 
 
 
What law deals with credit, APR & Advertising of consumer loans? - ANSWER-TILA 
 
Which regulation prohibits kickbacks? - ANSWER-RESPA 
 
Which regulations require the lender to cancel PMI when the loan reaches 78% LTV? - ANSWER-HPA-Homeowners Protection Act 
 
Wh...
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NMLS Test Outline Final Practice Questions 2024.
- Exam (elaborations) • 42 pages • 2024
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NMLS Test Outline Final Practice Questions 2024. 
RESPA disclosures? 
due dates? - correct answer 3 days after application: 
Home loan tool kit 
Loan estimate 
List of HUD counselors 
Mortgage Servicing Disclosure 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 after closing) 
 
After closing: 
Annual Escrow Statement 
Servicin...
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MLO SAFE NMLS Test | Questions with 100% Correct Answers | Latest Update 2024 | Verified
- Exam (elaborations) • 57 pages • 2024
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MLO SAFE NMLS Test | Questions with 100% Correct Answers | Latest Update 2024 | Verified
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NMLS TEST-Affinity Study Practice Questions 2024.
- Exam (elaborations) • 25 pages • 2024
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NMLS TEST-Affinity Study Practice Questions 2024.What law deals with credit, APR & Advertising of consumer loans? - correct answer TILA 
 
Which regulation prohibits kickbacks? - correct answer RESPA 
 
Which regulations require the lender to cancel PMI when the loan reaches 78% LTV? - correct answer HPA-Homeowners Protection Act 
 
Which Regulation prohibits fee splitting? - correct answer RESPA 
 
Regulation X is the letter used to describe which law? - correct answer RESPA 
 
RESPA is the acr...
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NMLS Test Outline Questions and Answers Already Passed
- Exam (elaborations) • 41 pages • 2022
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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 Disclosure 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 after closing) 
After closing: 
Annual Escrow Statement 
Servicing Transfer Statement (sen...
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NMLS Test Questions + Answers Graded A+
- Exam (elaborations) • 42 pages • 2024
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1. bank 
2. commercial bank 
3. savings & loans 
4. credit union 
5. mortgage broker 
6. mortgage banker - 1. bank - full service 
2. commercial bank - originate largest amount of loans without using depositor's funds. 
3. savings & loans - smaller local banks that use depositors funds to originate residential mortgage loans. 
AKA savings bank or thrift 
4. credit union - takes deposits from members and pay dividends. Offer high interest rates to depositors 
and low loan rates to borrowers. 
5....
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AZ NMLS Test Questions and Answers Already Passed
- Exam (elaborations) • 13 pages • 2022
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AZ NMLS Test Questions and Answers 
Already Passed 
Arizona Department of Financial Institutions regulates: brokers 
bankers 
escrow officers 
motor vehicle dealers 
Etc. 
AZDFI checks financial instutions every... 5 years 
The superintendent is the _____, is appointed by _____ and serves for a term of _____ Chief 
Officer; Governor; 5 years 
The superintendent needs at least ____ years of experience in the financial industry to serve 5 
years of experience within 15 years prior to appointment 
...
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NMLS TEST-Affinity Questions And Answers
- Exam (elaborations) • 25 pages • 2024
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__________ occurs if the lender chooses the hazard insurance company when the borrower allows the 
policy to lapse. - Forced-placed insurance 
"APR" means? - Annual percentage rate. This is the cost of credit expressed as a percentage. 
A borrower is refinancing his home. How much time does Reg Z give him to change his mind? - 3 
days 
A co-borrower whose income is used to qualify must sign the: - Mortgage and the note 
A deed is: - A legal instrument that conveys title to real property. 
A fu...
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NMLS Test Correct Questions & Answers(Latest Update 2023)
- Exam (elaborations) • 28 pages • 2023
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What is the pass rate for the NMLS Test and how long is it? - ANSWER 75% of 115 questions, 125 questions long with 10 ungraded 
 
What is the biggest thing to remember about taking the test? - ANSWER Read the questions twice, slowly, but do not take over 30 seconds per question the first time through. 
 
What is the requirement under Fair Lending, Fair Housing, and ECOA? - ANSWER All consumers have the right to apply for a loan unless they are under 18 years of age
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Practice NMLS Test - 20 Hour Safe Correctly Answered 2024.
- Exam (elaborations) • 45 pages • 2024
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Practice NMLS Test - 20 Hour Safe Correctly Answered 2024. 
 
An application must be accompanied by fingerprints when applying for 
a. Licensed MLO 
b. Registered MLO 
c. not required 
d. required for both licensed and registered MLO - correct answer d 
 
Quarterly mortgage call reports must be filed 
a. within 30 days of the end of the calendar quarter 
b. within 30 days of the end of the fiscal quarter 
c. within 45 days of the end of the calendar quarter 
d. within 45 days of the end of the...
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