NMLS S.A.F.E Exam Practice Exam Questions with Correct Answers

NMLS S.A.F.E Exam Practice Exam Questions with Correct Answers An individual who is an employee of a depository institution or a subsidiary of a depository institution meets the definition of a loan originator, defined as a(n): a. Licensed mortgage loan originator b. Exempt mortgage loan originator c. Registered mortgage loan originator d. Qualified mortgage loan originator - Answer-c. Registered mortgage loan originator Which of the following is used as a method of identifying and holding licensees accountable, according to the S.A.F.E. Act? a. NMLS ID b. Records of annual loan originator volume c. Unique identifier d. CSBS number - Answer-c. Unique identifier Taneka is licensed and has received her unique identifier from the NMLS. Taneka must clearly show her unique identifier on all of the following, except: a. Residential mortgage loan applications b. Solicitations and advertisements c. Websites d. Interoffice communications - Answer-d. Interoffice communications Each of the following is true about the Department of Housing and Urban Development (HUD), except: a. The Federal Housing Administration, with its liberal-eligibility FHA loan programs, operates under HUD's authority b. It provides or makes referrals related to housing counseling for loan applicants seeking a HECM or high-cost home loan c. Public housing and multi-family housing fall under its purview d. It has a major role in overseeing the mortgage industry - Answer-d. It has a major role in overseeing the mortgage industry Which of the following is not a part of the definition of a loan originator?