Nmls practice test 1 Study guides, Class notes & Summaries
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NMLS Practice Test Exam Questions And Answers (Verified And Updated)
- Exam (elaborations) • 25 pages • 2024
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NMLS Practice Test Exam Questions And 
Answers (Verified And Updated) 
A discount point is BEST described as a charge the borrower pays to: 
A.) A lender to decrease the interest rate on the mortgage loan 
B.) A mortgage broker at the time of application to obtain a favorable rate 
C.) The seller as part of the closing costs of a loan 
D.) A lender to ensure against foreclosure - answerA.) A lender to decrease the interest rate 
on the mortgage loan 
A buyer has made an earnest money payment of ...
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MLO SAFE NMLS safe test practice question & Answers, VERIFIED// LATEST EXAM PREDICTIONS UPDATES, APPROVED.
- Exam (elaborations) • 38 pages • 2024
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MLO SAFE NMLS safe test practice 
question & Answers, VERIFIED/ 
Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, 
frequent refinancing that does not benefit the borrower and other prohibited acts is called 
__________________________. - -Predatory Lending. 
RESPA-Real Estate Settlement Procedures Act - -The Federal Statute that deals with the settlement 
of residential mortgage loans. 
RESPA's section 9 Prohibits - -Home sellers from requ...
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NMLS PRACTICE QUESTIONS WITH SOLUTIONS LATEST UPDATED 2024
- Exam (elaborations) • 20 pages • 2024
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NMLS PRACTICE QUESTIONS WITH SOLUTIONS LATEST UPDATED 2024 
which federal agency administers Regulation B implementing ECOA, Rgulation C implementig HMDA and Regulation Z implementing TILA? 
FEDERAL RESERVE SYSTEM 
 
 
 
the clause in a mortgage that allows the lender to foreclose if the borrower defaults is the 
Acceleration Clause 
 
 
 
 
at closing a borrower may deposit funds to establish reserves for which of the following? 
TAXES AND INSURANCE 
 
 
 
in a qualification of an applicant who...
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NMLS Practice Test Questions and Answers Rated A
- Exam (elaborations) • 7 pages • 2023
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NMLS Practice Test Questions and 
Answers Rated A 
1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 
30 days 
•60 days 
•90 days •90 days 
2) A COFI index is defined as? 
Cost of funds index 
•Cost of financial index 
•Cost of funding insurance cost of fund index 
3) Subordinate financing relates to 
•seller financing. 
•second mortgages. 
•financing in the secondary mortgage market. 
•subprime loans. second mortgage 
4) Explain what Investors ...
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MLO SAFE NMLS safe test practice questions and answers latest updated
- Exam (elaborations) • 30 pages • 2024
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Available in package deal
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MLO SAFE NMLS safe test practice questions and answers latest updated 
Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. 
Predatory Lending. 
 
 
 
RESPA-Real Estate Settlement Procedures Act 
The Federal Statute that deals with the settlement of residential mortgage loans. 
 
 
 
 
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MLO SAFE NMLS safe test practice questions and answers 100% pass
- Exam (elaborations) • 41 pages • 2023
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MLO SAFE NMLS safe test practice 
questions and answers 100% pass 
Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan 
terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called 
__________________________. Predatory Lending. 
RESPA-Real Estate Settlement Procedures Act The Federal Statute that deals with the 
settlement of residential mortgage loans. 
RESPA's section 9 Prohibits Home sellers from requiring h...
-
NMLS Practice Test Questions and answers, rated A+/ LATEST UPDATE [ EXAM PREDICTION QUIZZES]
- Exam (elaborations) • 7 pages • 2024
-
Available in package deal
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- $9.99
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NMLS Practice Test Questions and 
answers, rated A+ 
1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 
30 days 
•60 days 
•90 days - -•90 days 
2) A COFI index is defined as? 
Cost of funds index 
•Cost of financial index 
•Cost of funding insurance - -cost of fund index 
3) Subordinate financing relates to 
•seller financing. 
•second mortgages. 
•financing in the secondary mortgage market. 
•subprime loans. - -second mortgage 
4) Explain what...
-
MLO SAFE NMLS Safe Test Practice Questions And Answers (Verified And Updated)
- Exam (elaborations) • 29 pages • 2024
- Available in package deal
-
- $13.49
- + learn more
MLO SAFE NMLS Safe Test Practice 
Questions And Answers (Verified And 
Updated) 
Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan 
terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called 
__________________________. - answerPredatory Lending. 
RESPA-Real Estate Settlement Procedures Act - answerThe Federal Statute that deals with 
the settlement of residential mortgage loans. 
RESPA's section 9 Prohibits - a...
-
NMLS Practice Test Hard Questions And Answers All Correct
- Exam (elaborations) • 18 pages • 2023
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- $10.49
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NMLS Practice Test Hard Questions And Answers All Correct 
 
A discount point is BEST described as a charge the borrower pays to: 
 
A.) A lender to decrease the interest rate on the mortgage loan 
B.) A mortgage broker at the time of application to obtain a favorable rate 
C.) The seller as part of the closing costs of a loan 
D.) A lender to ensure against foreclosure - ANS A.) A lender to decrease the interest rate on the mortgage loan 
 
A buyer has made an earnest money payment of $5,00...
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MLO SAFE NMLS SAFE TEST PRACTICE QUESTIONS | LATEST VERSION | 2024/2025 | ALREADY PASSED
- Exam (elaborations) • 66 pages • 2024
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Available in package deal
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- $12.40
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MLO SAFE NMLS SAFE TEST PRACTICE 
QUESTIONS | LATEST VERSION | 
2024/2025 | ALREADY PASSED 
 
__________________ requires that a borrower is notified ___________ days prior to the 
effective date of the loan servicing transfer. RESPA (Real Estate Settlement Procedures Act), 
15 days prior 
 
________________________ is another name for Section 114 of FACTA and also amends 
FCRA. The Red Flag Rules 
 
A ______________ buyer is a person who gets paid for the use of their name and credit history 
i...
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