MORTGAGE LOAN ORIGINATOR REAL NEWEST
EXAM WITH COMPLETE QUESTIONS &
ANSWERS PDF VERIFIED//GRADED A+
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Terms in this set (64)
What does RESPA stand for? The Real Estate Settlement Procedures Act
(Regulation X)
What does ECOA stand for? Equal Credit Opportunity Act (Regulation B)
What does TILA stand for? Truth In Lending Act (Regulation Z)
What does TRID stand for? TILA-RESPA Integrated Disclosure Rule (a.k.a.
"Know Before You Owe")
What does CFPB stand for? Consumer Financial Protection Bureau
, What does NMLS stand for? Nationwide Mortgage Licensing System and
Registry
What is SAFE and UST? Secure and Fair Enforcement for Mortgage and
Licensing Act of 2008, and Uniform State Test.
Included in the Loan Estimate, all of A. Appraisal cost
the following are part of the finance
charge except the:
A. Appraisal cost
B. VA funding fee
C. Per diem interest
D. Origination charges
If an applicant works 40 hours B. $2,343.47
every week and is paid $13.52 per
hour, what is the applicant's
monthly income?
A. $2,163.20
B. $2,343.47
C. $2,379.52
D. $2,487.68
According to the TILA, which of the C. Hazard insurance
following fees is excluded from the
calculation of the APR?
A. Wire Transfer
B. Prepaid interest
C. Hazard Insurance
D. Mortgage insurance premiums
EXAM WITH COMPLETE QUESTIONS &
ANSWERS PDF VERIFIED//GRADED A+
Save
Terms in this set (64)
What does RESPA stand for? The Real Estate Settlement Procedures Act
(Regulation X)
What does ECOA stand for? Equal Credit Opportunity Act (Regulation B)
What does TILA stand for? Truth In Lending Act (Regulation Z)
What does TRID stand for? TILA-RESPA Integrated Disclosure Rule (a.k.a.
"Know Before You Owe")
What does CFPB stand for? Consumer Financial Protection Bureau
, What does NMLS stand for? Nationwide Mortgage Licensing System and
Registry
What is SAFE and UST? Secure and Fair Enforcement for Mortgage and
Licensing Act of 2008, and Uniform State Test.
Included in the Loan Estimate, all of A. Appraisal cost
the following are part of the finance
charge except the:
A. Appraisal cost
B. VA funding fee
C. Per diem interest
D. Origination charges
If an applicant works 40 hours B. $2,343.47
every week and is paid $13.52 per
hour, what is the applicant's
monthly income?
A. $2,163.20
B. $2,343.47
C. $2,379.52
D. $2,487.68
According to the TILA, which of the C. Hazard insurance
following fees is excluded from the
calculation of the APR?
A. Wire Transfer
B. Prepaid interest
C. Hazard Insurance
D. Mortgage insurance premiums
