NMLS Practice Test 2026 Actual with Questions
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Terms in this set (47)
The main activity of FHA is The insuring of residential loans made by private
lenders
Joint Tenancy with Right of An equal undivided ownership of property by
Survivorship two or more persons, the survivors to take the
interest upon the death on one of them
, Negative Amortization A gradual increase in the mortgage debt that
occurs when the monthly payment is not large
enough to cover the entire amount of principal
and interest due. The amount of the shortfall is
added to the unpaid principal balance
Quit Claim Deed a deed by which the grantor releases any interest
in the property without attempting to convey title
or make any warranty of clear title to the
property
Servicing The collection for an investor of monthly
payments of principal, interest, and escrows, plus
operational procedures covering accounting,
bookkeeping, paying of insurance and property
taxes
Subordination When a party agrees in writing that its claim on a
property is inferior to the claim of another
Title Examination An examination of public records laws and court
decision to disclose the past and current facts
regarding ownership of real estate
Warranty Deed A deed in which the grantor or seller warrants or
guarantees that good title is being conveyed
& Answers (Latest Update) 100%
Guarantee Pass (Verified Answers)
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (47)
The main activity of FHA is The insuring of residential loans made by private
lenders
Joint Tenancy with Right of An equal undivided ownership of property by
Survivorship two or more persons, the survivors to take the
interest upon the death on one of them
, Negative Amortization A gradual increase in the mortgage debt that
occurs when the monthly payment is not large
enough to cover the entire amount of principal
and interest due. The amount of the shortfall is
added to the unpaid principal balance
Quit Claim Deed a deed by which the grantor releases any interest
in the property without attempting to convey title
or make any warranty of clear title to the
property
Servicing The collection for an investor of monthly
payments of principal, interest, and escrows, plus
operational procedures covering accounting,
bookkeeping, paying of insurance and property
taxes
Subordination When a party agrees in writing that its claim on a
property is inferior to the claim of another
Title Examination An examination of public records laws and court
decision to disclose the past and current facts
regarding ownership of real estate
Warranty Deed A deed in which the grantor or seller warrants or
guarantees that good title is being conveyed
