Nmls safe test Study guides, Class notes & Summaries

Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-occupied, residential refinance? - After 3 business-day rescission period What is the adjustab...

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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 home buyers to purchase title insurance from a particular company pro...

MLO SAFE NMLS safe test practice questions

NMLS Safe Test Mortgage Licensing Practice Exam Q's

NMLS Safe Test Mortgage Licensing.

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 Safe Test Mortgage Licensing Practice Exam Questions with correct answers.

MLO SAFE NMLS safe test practice Questions and Answers Latest (2023 / 2024) (Verified Answers)

MLO SAFE NMLS safe test practice exam questions and answers A loan subject to HOEPA allows prepayment penalties for the first ______ years of the loan. - Answer-2 (two) years Per the Dodd-Frank Act an abusive act would include which of the following: 1. One that materially interferes with the consumers ability to understand the product or service. 2. One that take unreasonable advantage of a consumers' lack of understanding. 3. One that takes unreasonable advantage of the consumer's...