Mortgage Loan Originator Exam
Questions & Right Answers
AARMR - Correct Answer American Association of Residential Mortgage Regulators
AML - Correct Answer Anti-Money Laundering
APR - Correct Answer Annual Percentage Rate
ARM - Correct Answer Adjustable Rate Mortgage
BSA - Correct Answer Bank Secrecy Act
CC&R - Correct Answer covenants, conditions, and restrictions
CE - Correct Answer continuing education
CFPB - Correct Answer Consumer Finance Protection Bureau
CFR - Correct Answer Code of Federal Regulations
CHARM - Correct Answer Consumer Handbook on Adjustable Rate Mortgages
COFI - Correct Answer Cost of Funds Index
COSI - Correct Answer Cost of Savings Index
CRV - Correct Answer Certificate of Reasonable Value
,CSBC - Correct Answer Conference of State Bank Supervisors
DTI - Correct Answer debt to income ratio
ECOA - Correct Answer Equal Credit Opportunity Act
FACTA - Correct Answer Fair and Accurate Credit Transaction Act of 2003
FCRA - Correct Answer Fair Credit Reporting Act
FEMA - Correct Answer Federal Emergency Management Agency
FFIEC - Correct Answer Federal Financial Institutions Examination Council
FHA - Correct Answer Federal Housing Administration
FInCEN - Correct Answer Financial Crimes Enforcement Network
FTC - Correct Answer Federal Trade Commission
GFE - Correct Answer Good Faith Estimate
GPM - Correct Answer graduated payment mortgage
HECM - Correct Answer Home Equity Conversion Mortgage
HELOC - Correct Answer Home Equity Line of Credit
HLTV or HCLTV - Correct Answer Home equity line of credit loan to value
,HMDA - Correct Answer Home Mortgage Disclosure Act
HOEPA - Correct Answer Home Ownership and Equity Protection Act
HUD - Correct Answer Housing and Urban Development
LIBOR - Correct Answer London Interbank Offer Rate
LTV - Correct Answer Loan to Value
MARS - Correct Answer Mortgage Assistance Relief Services
MSA - Correct Answer Mortgage Assistance Relief Services
MTA - Correct Answer Monthly Treasury Average
NMLS - Correct Answer Nationwide Mortgage Licensing System
NPI - Correct Answer Non-public Personal Information
PITI - Correct Answer Principal, Interest, Taxes, Insurance
PMI - Correct Answer Private Mortgage Insurance
QM - Correct Answer Qualified Mortgage
QRM - Correct Answer Qualified Residential Mortgage
, RESPA **** - Correct Answer Real Estate Settlement Procedures Act (Regulation X)
SAFE - Correct Answer Secure and Fair Enforcement
SAR - Correct Answer Suspicious Activity Report
SRP - Correct Answer Service Release Premium
TILA - Correct Answer Truth-In-Lending Act, Regulation Z
UFMIP - Correct Answer Up Front Mortgage Insurance Premium
USC - Correct Answer US Code
USDA - Correct Answer United States Department of Agriculture
UST - Correct Answer Uniform State Test
VA - Correct Answer Veterans Affairs
YSP - Correct Answer Yield Spread Premium
what is 203 (b) - Correct Answer FHA's single family program which provides mortgage insurance to
lenders to protect against the borrower defaulting; _______ is used to finance the purchase of new or
existing 1 to 4 family housing (bedrooms) ; _______ insured loans are known for requiring a low down
payment, flexible qualifying guidelines, limited fees, and a limit on maximum loan amount.
what is 203 (k) - Correct Answer FHA's mortgage insurance program enables homebuyers to finance
both the purchase of a house and the cost of its rehabilitation through a single mortgage loan
Questions & Right Answers
AARMR - Correct Answer American Association of Residential Mortgage Regulators
AML - Correct Answer Anti-Money Laundering
APR - Correct Answer Annual Percentage Rate
ARM - Correct Answer Adjustable Rate Mortgage
BSA - Correct Answer Bank Secrecy Act
CC&R - Correct Answer covenants, conditions, and restrictions
CE - Correct Answer continuing education
CFPB - Correct Answer Consumer Finance Protection Bureau
CFR - Correct Answer Code of Federal Regulations
CHARM - Correct Answer Consumer Handbook on Adjustable Rate Mortgages
COFI - Correct Answer Cost of Funds Index
COSI - Correct Answer Cost of Savings Index
CRV - Correct Answer Certificate of Reasonable Value
,CSBC - Correct Answer Conference of State Bank Supervisors
DTI - Correct Answer debt to income ratio
ECOA - Correct Answer Equal Credit Opportunity Act
FACTA - Correct Answer Fair and Accurate Credit Transaction Act of 2003
FCRA - Correct Answer Fair Credit Reporting Act
FEMA - Correct Answer Federal Emergency Management Agency
FFIEC - Correct Answer Federal Financial Institutions Examination Council
FHA - Correct Answer Federal Housing Administration
FInCEN - Correct Answer Financial Crimes Enforcement Network
FTC - Correct Answer Federal Trade Commission
GFE - Correct Answer Good Faith Estimate
GPM - Correct Answer graduated payment mortgage
HECM - Correct Answer Home Equity Conversion Mortgage
HELOC - Correct Answer Home Equity Line of Credit
HLTV or HCLTV - Correct Answer Home equity line of credit loan to value
,HMDA - Correct Answer Home Mortgage Disclosure Act
HOEPA - Correct Answer Home Ownership and Equity Protection Act
HUD - Correct Answer Housing and Urban Development
LIBOR - Correct Answer London Interbank Offer Rate
LTV - Correct Answer Loan to Value
MARS - Correct Answer Mortgage Assistance Relief Services
MSA - Correct Answer Mortgage Assistance Relief Services
MTA - Correct Answer Monthly Treasury Average
NMLS - Correct Answer Nationwide Mortgage Licensing System
NPI - Correct Answer Non-public Personal Information
PITI - Correct Answer Principal, Interest, Taxes, Insurance
PMI - Correct Answer Private Mortgage Insurance
QM - Correct Answer Qualified Mortgage
QRM - Correct Answer Qualified Residential Mortgage
, RESPA **** - Correct Answer Real Estate Settlement Procedures Act (Regulation X)
SAFE - Correct Answer Secure and Fair Enforcement
SAR - Correct Answer Suspicious Activity Report
SRP - Correct Answer Service Release Premium
TILA - Correct Answer Truth-In-Lending Act, Regulation Z
UFMIP - Correct Answer Up Front Mortgage Insurance Premium
USC - Correct Answer US Code
USDA - Correct Answer United States Department of Agriculture
UST - Correct Answer Uniform State Test
VA - Correct Answer Veterans Affairs
YSP - Correct Answer Yield Spread Premium
what is 203 (b) - Correct Answer FHA's single family program which provides mortgage insurance to
lenders to protect against the borrower defaulting; _______ is used to finance the purchase of new or
existing 1 to 4 family housing (bedrooms) ; _______ insured loans are known for requiring a low down
payment, flexible qualifying guidelines, limited fees, and a limit on maximum loan amount.
what is 203 (k) - Correct Answer FHA's mortgage insurance program enables homebuyers to finance
both the purchase of a house and the cost of its rehabilitation through a single mortgage loan
