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20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW Exam With Accurate Solutions

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Course 20-HR SAFE Comprehensive Mortgage Loan Originator
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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 - Correct Answer 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 - Correct Answer 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 - Correct Answer Consumer Credit Protection Act FHA (Federal Housing Administration) sellers are permitted to provide financing concession up to 6 percent of the:

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20-HR SAFE Comprehensive
Mortgage Loan Originator
Fundamentals HW Exam With
Accurate Solutions
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 - Correct Answer 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 - Correct Answer 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 - Correct Answer 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 - Correct Answer Sales price



The APR disclosure for a regular transaction the allowable tolerance of:



.250%

1%

.125%

.500% - Correct Answer .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 - Correct Answer 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 - Correct Answer Federal Reserve System

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  • mortgage loan originators who make cold calls must
  • the appraisal approach that is used as the best in
  • the truth in lending act is contained in title i o
  • fha federal housing administration sellers are

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