20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW 100% Pass

20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW 100% Pass Mortgage loan originators who make cold calls must comply with the requirements of the National Do-Not-Call rules. The loan originator needs to update any download of the registry at least every: 31 days 18 Months 7 days Year 31 Days The appraisal approach that is used as the best indicator of value for existing properties is: Similar property approach Fair market value approach Market data approach Neighborhood value approach Market data approach The Truth in Lending Act is contained in Title I of the: Real Estate Settlement Procedures Act Fair Credit Reporting Act Consumer Credit Protection Act Equal Credit Opportunity Act Consumer Credit Protection Act FHA (Federal Housing Administration) sellers are permitted to provide financing concession up to 6 percent of the: Sales price Loan amount FHA non-allowable closing cost Origination charges Sales price The APR disclosure for a regular transaction the allowable tolerance of: .250% 1% .125% .500% .125% = 1/8 The SAFE Act requires all MLOs seeking state-licensure to pass the NMLS-developed Mortgage Loan Originator Test with a score of: 80 or better 75 or better 70 or better 65 or better 75 or better The Consumer Financial Protection Act of 2010 establishes Consumer Financial Protection Bureau (CFPB), as an independent entity housed within the: Federal Housing Finance Agency Federal Trade Commission Federal National Mortgage Association Federal Reserve System Federal Reserve System TRID requires that the Closing Disclosure must be completed and made available for inspection: a. During the business day immediately