최신 MLO 무료덤프 - NMLS Mortgage Loan Origination (SAFE MLO)

A. Regulating mortgage lenders on their mortgage origination practices and procedures

B. Regulating the number of mortgage loan originators in the mortgage industry

C. Deciding what quantity of mortgage-backed securities are purchased by the government

D. Regulating the federal funds rate at which money is lent to banks

A. Changes that the MLO should have known at the time the Loan Estimate was provided

B. A natural disaster in the area where the loan will close

C. The borrower receiving a salary increase

D. Market fluctuations on a locked loan

A. 10 days

B. 3 days

C. 5 days

D. 7 days

A. Annual approach

B. Cost approachB Income approach

C. Sales comparison approach

A. Second but combined with any other liens

B. Second

C. First

D. First as it will be combined with the 80% loan

A. Fair Housing Act

B. Equality Act

C. Employment Non-Discrimination Act

D. Dodd-Frank

A. are an employee of a loan processing or underwriting company that supports a mortgage broker/lender and only perform supervised clerical duties.

B. perform clerical duties for a mortgage lender as a supervised employee

C. are not in communication with the consumer to obtain mortgage loan information.

D. are an independent contractor and collect, receive or distribute information in connection with making a credit decision.

A. It aids borrowers in understanding the loan transaction process by utilizing readily understandable language.

B. It ensures that the terms and fees that are quoted at the time of application do not change.

C. It provides a three-day cooling-off period for all loans

D. It allows borrowers five days to review the final amount needed for settlement.

A. Asking the appraiser to substantiate a value

B. Encouraging a target value

C. Withholding payment from an appraiser

D. Communication directly between the loan officer and the appraiser

A. The maiden name of the borrower's mother

B. A mortgage loan originator's unique identifier

C. A borrower's driver's license number

D. The borrower's previous five year employment history

A. Commission-based W-2 income

B. Salaried W-2 position

C. Self-employed income

D. Part-time work with irregular hours

A. Only accept one-half of the claimed commission income.

B. Request two years of signed tax returns proving receipt of the income.

C. Only accept the commission income if it has been steady for three years.

D. Disregard the commission income completely.

A. A pattern, practice or specific activity that indicates the possible existence of identity theft

B. Proof that specific activity shows identity theft

C. Reasonably foreseeable risk taken by borrowers to prevent identity theft

D. Effective oversight by lenders to prevent borrower identity theft

A. An origination fee

B. A late payment fee

C. An appraisal fee

D. A notary fee

A. The individual has been a witness in a trial at which the defendant was convicted of felony fraud.

B. The individual had an application for an MLO license denied or an MLO license revoked or suspended in any Governmental jurisdiction.

C. The individual has been subject to a court order for payment of child support.

D. The individual has submitted an application to be a state-licensed MLO in the application state and was registered in the NMLS as an MLO by the prior employer.