MORTGAGE LOAN ORIGINATOR REAL NEWEST EXAM ||
MOST RECENT EXAM 2026/27 ACTUAL COMPLETE REAL
EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED
ANSWERS) ALREADY GRADED A+ | GUARANTEED
SUCCESS!! NEWEST EXAM | JUST RELEASED!!
Sue Johnson is a receptionist for a construction company. She
receives bi weekly pay in the amount of $1,153.85. What is her
monthly qualifying income? - ANSWER-$2500.00
1153.85x 26=30,000
/12 =2500
43% - ANSWER-In order for a home loan to be a qualified
mortgage, the debt to income ratio may not exceed.
The investigators that are conducted to identify perpetrators of
financial crimes and the rule making regarding anti money
laundering provisions of the patriot act are carried out by the
___withing the _____. - ANSWER-The financial crimes
enforcement; treasury department
In what area of the loan estimate would a borrower be able to
see if their loan has a balloon payment? - ANSWER-The loan
terms table
An application is defined to consist of six pieces of info. This
includes borrowers name, income, and desired loan amount as
well as - ANSWER-The borrowers social security number, the
,address of the property he or she wishes to purchas and an
estimate if the property value
If the mortgage professional advertises a loan product at 7.25%
APR for the first six months! After first six months APR is 10.5%
subject to increase based in market conditions what if any
additional disclosure does TILA require? - ANSWER-No other
information is required
What is the primary purpose of the truth in lending act -
ANSWER-To endure that creditors propvide consumers clear
disclosure of the terms of credit
The loan originator compensation rule is intended to
discourage which of the following practices - ANSWER-Steering
Which of the following would violate section 8 of RESPA and its
prohibition against unearned fees ? - ANSWER-A title company
pays a mortgage broker $100 per client for referral of settlement
business
An annual escrow analysis is used to do which of the following
- ANSWER-Prevent escrow charges
If an individual submits false info for the purposes of obtaining
a federally covered loan he could face - ANSWER-A fine up to
1,000,000 and imprisonment
, An acceptable anti-money laundering program must include all
but which of the following elements? - ANSWER-Approval by
FinCEN prior to its implementation
According to fair lending laws, age may be considered as a
favor in denying a loan application if - ANSWER-The applicant is
too young to enter in a contract
Cindy is a loan originator who specializes in refinance. A local
appraiser calls her and promises to deliver any appraisal that
she needs for her refinances, telling Cindy, "All you have to do
is let me know the valuations that you need!" What are Cindys
obligations under the appraisal rules? - ANSWER-She must
report the actions of the appraiser to the state appraiser and
licensing authorities and submit a request for a new appraisal.
Which of the following mortgage broker policies would violate
fair lending laws? - ANSWER-Refusinf to oroginate loans in ZIP
codes known to be economically depressed
A title insurance company provides a computer to a mortgage
broker. The computer is used to transmit electronic documents
from the mortgage brokers office to the title insurance
company. Who is in violation of RESPA? - ANSWER-both the
title insurance company and the mortgage broker
A mortgage broker is unable to assist a client and refers him to
another mortgage broker for originating services. The second
broker pays the referring broker a fee for providing the lead.
MOST RECENT EXAM 2026/27 ACTUAL COMPLETE REAL
EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED
ANSWERS) ALREADY GRADED A+ | GUARANTEED
SUCCESS!! NEWEST EXAM | JUST RELEASED!!
Sue Johnson is a receptionist for a construction company. She
receives bi weekly pay in the amount of $1,153.85. What is her
monthly qualifying income? - ANSWER-$2500.00
1153.85x 26=30,000
/12 =2500
43% - ANSWER-In order for a home loan to be a qualified
mortgage, the debt to income ratio may not exceed.
The investigators that are conducted to identify perpetrators of
financial crimes and the rule making regarding anti money
laundering provisions of the patriot act are carried out by the
___withing the _____. - ANSWER-The financial crimes
enforcement; treasury department
In what area of the loan estimate would a borrower be able to
see if their loan has a balloon payment? - ANSWER-The loan
terms table
An application is defined to consist of six pieces of info. This
includes borrowers name, income, and desired loan amount as
well as - ANSWER-The borrowers social security number, the
,address of the property he or she wishes to purchas and an
estimate if the property value
If the mortgage professional advertises a loan product at 7.25%
APR for the first six months! After first six months APR is 10.5%
subject to increase based in market conditions what if any
additional disclosure does TILA require? - ANSWER-No other
information is required
What is the primary purpose of the truth in lending act -
ANSWER-To endure that creditors propvide consumers clear
disclosure of the terms of credit
The loan originator compensation rule is intended to
discourage which of the following practices - ANSWER-Steering
Which of the following would violate section 8 of RESPA and its
prohibition against unearned fees ? - ANSWER-A title company
pays a mortgage broker $100 per client for referral of settlement
business
An annual escrow analysis is used to do which of the following
- ANSWER-Prevent escrow charges
If an individual submits false info for the purposes of obtaining
a federally covered loan he could face - ANSWER-A fine up to
1,000,000 and imprisonment
, An acceptable anti-money laundering program must include all
but which of the following elements? - ANSWER-Approval by
FinCEN prior to its implementation
According to fair lending laws, age may be considered as a
favor in denying a loan application if - ANSWER-The applicant is
too young to enter in a contract
Cindy is a loan originator who specializes in refinance. A local
appraiser calls her and promises to deliver any appraisal that
she needs for her refinances, telling Cindy, "All you have to do
is let me know the valuations that you need!" What are Cindys
obligations under the appraisal rules? - ANSWER-She must
report the actions of the appraiser to the state appraiser and
licensing authorities and submit a request for a new appraisal.
Which of the following mortgage broker policies would violate
fair lending laws? - ANSWER-Refusinf to oroginate loans in ZIP
codes known to be economically depressed
A title insurance company provides a computer to a mortgage
broker. The computer is used to transmit electronic documents
from the mortgage brokers office to the title insurance
company. Who is in violation of RESPA? - ANSWER-both the
title insurance company and the mortgage broker
A mortgage broker is unable to assist a client and refers him to
another mortgage broker for originating services. The second
broker pays the referring broker a fee for providing the lead.
