Bullet test MlO goldcoast Exam Questions and Answers 100% Pass

Bullet test MlO goldcoast Exam Questions and Answers 100% Pass Which is the largest secondary market participant? - Answer- Fannie Mae Which would be considered a toxic feature under the QM definition? - Answer- Interest Only A lender who refuses to make loans on properties in certain neighborhoods is demonstrating process of __________ - Answer- Red Lining In order to ensure a loan closes an MLO conceals the fact the down payment is made with borrowed funds would be considered __________ - Answer- Actual Fraud An MLO realizes that his customer will not qualify for the loan so he convinces her to apply using her mother's data and identity without her knowing, she a considered a _________ - Answer- Straw-Buyer If an MLO has a complaint about a consumer protection issue involving a potential tax violation, which agency should be contacted? - Answer- IRS The estimate for most estimate charges must be available for at least _______ - Answer- 10 Business Days A mortgage banker rents office space at a discount in exchange for referees or other benefits - Answer- RESPA (Section 8) The VA provides a guarantee on eligible home loans for up to what percent of what amount? - Answer- 25% A consumer is purchasing a single family residence he will obtain 80% financing on the property. Located in a flood zone and it is mandatory - Answer- Zone A, or V How many days prior to loan consummation does the TILA require for closing disclosure to go to the consumer? - Answer- 3 Business Days