Nmls practice test stuvia Study guides, Class notes & Summaries

Practice NMLS Test - 20 Hour Safe Questions and Answers 100% Correct Practice NMLS Test - 20 Hour Safe Questions and Answers 100% Correct Practice NMLS Test - 20 Hour Safe Questions and Answers 100% Correct 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 - ANSWER-d Quarterly mortgage call reports must be filed a. within 30 days of the end of the calenda...

MLO SAFE NMLS Safe Test Practice Questions and Answers 100% CorrectMLO SAFE NMLS Safe Test Practice Questions and Answers 100% CorrectMLO SAFE NMLS Safe Test Practice Questions and Answers 100% CorrectMLO SAFE NMLS Safe Test Practice Questions and Answers 100% Correct 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 __________________________. - ANSWER-...

NMLS Safe Test Mortgage Licensing Practice Exam Q's (from 2019 NMLS 20 Hour Safe Exam for Loan Originator) with Complete SolutionsNMLS Safe Test Mortgage Licensing Practice Exam Q's (from 2019 NMLS 20 Hour Safe Exam for Loan Originator) with Complete SolutionsNMLS Safe Test Mortgage Licensing Practice Exam Q's (from 2019 NMLS 20 Hour Safe Exam for Loan Originator) with Complete SolutionsWhich federal law requires that the Loan Estimate be provided to the borrower within three business days of...

NMLS Practice Test Hard Questions with Answers (Graded A)NMLS Practice Test Hard Questions with Answers (Graded A)NMLS Practice Test Hard Questions with Answers (Graded A)NMLS Practice Test Hard Questions with Answers (Graded A) 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 ...

1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days - ANSWER •90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance - ANSWER cost of fund index 3) Subordinate financing relates to •seller financing. •second mortgages. •financing in the secondary mortgage market. •subprime loans. - ANSWER second mortgage 4) Explain what Investors with non-recour...

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 -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 fiscal quarter -ANSWER c. within45 days of the end of the calendar q...

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 - ANSWER A.) A lender to decrease the interest rate on the mortgage loan A buyer has made an earnest money payment of $5,000. The buyer pays an additional $2,000 in option money to be c...

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 __________________________. - ANSWER Predatory Lending. RESPA-Real Estate Settlement Procedures Act - ANSWER The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - ANSWER Home sellers from requiring home buyers to purchase title insurance from...