NMLS National Exam 2026 Actual with
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Terms in this set (75)
Gramm-leach-biley and the Borrowers info must be kept confidential
safeguard rules
Everyone has the right to apply for Fair lending, fair housing, ECOA
a mortgage according to:
When assessing a borrowers -You must consider public assistance but only if
income: the assistance meets program requirements for
income
- you do not have the right to change
documentation
, Redlining Refusing to take an application due to the
location of the property
Reverse redlining Charging more for interest rates and costs in a
certain area because of risk factors for the area
itself
Steering You cannot steer the borrower to live in a certain
area or force them to take a specific program
No referrals or kickbacks Can be paid
All joint marketing Is to be split based on the percentage of the
advertisement used by each party
If an appraiser is connected to The appraiser must be replaced due to a conflict
anyone on the loan of interest
You must make sure that the bank
statements and income match up
from the borrowers
You cannot talk to or contact the
appraiser to influence value,
threaten payment, or cut them off
from any new business
It is your responsibility to... Report any loan files to your compliance officer
on which you feel the borrower is providing
fraudulent information
Questions & Answers (Latest
Update) 100% Guarantee Pass (Verified
Answers)
Save
Terms in this set (75)
Gramm-leach-biley and the Borrowers info must be kept confidential
safeguard rules
Everyone has the right to apply for Fair lending, fair housing, ECOA
a mortgage according to:
When assessing a borrowers -You must consider public assistance but only if
income: the assistance meets program requirements for
income
- you do not have the right to change
documentation
, Redlining Refusing to take an application due to the
location of the property
Reverse redlining Charging more for interest rates and costs in a
certain area because of risk factors for the area
itself
Steering You cannot steer the borrower to live in a certain
area or force them to take a specific program
No referrals or kickbacks Can be paid
All joint marketing Is to be split based on the percentage of the
advertisement used by each party
If an appraiser is connected to The appraiser must be replaced due to a conflict
anyone on the loan of interest
You must make sure that the bank
statements and income match up
from the borrowers
You cannot talk to or contact the
appraiser to influence value,
threaten payment, or cut them off
from any new business
It is your responsibility to... Report any loan files to your compliance officer
on which you feel the borrower is providing
fraudulent information
