Mortgage loan originator EXAM
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025)
A _____ is a loan with an interest rate that can adjust monthly
and also offers a borrower a number of payment choices such
as 30 or 15 year P&i, interest only if 1% minimum payment
which may result in negative amortization. - Correct
Answers ✅Option-ARM
A _____ is a loan with an interest rate that can adjust monthly
and also offers a borrower a number of payment choices such
as 30 or 15 year P&i, interest only if 1% minimum payment
which may result in negative amortization. - Correct
Answers ✅Option-ARM
A borrower has applied for a refinance on her property valued
at $235,000. She currently has a HELLC with a $47,000 limit
and currently owes $25,850. The borrower has applied for a
first mortgage of $164,500. Which of the following LTV, CLTV,
and HLTV are accurate based on this information ? - Correct
Answers ✅70%/81%/90%
A conventional loan that exceeds Fannie Mae and Freddie
macs maximum loan limits - Correct Answers ✅A non
confirming loan
A conventional loan that exceeds Fannie Mae and Freddie
macs maximum loan limits - Correct Answers ✅A non
confirming loan
,Mortgage loan originator EXAM
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025)
A couple has qualified for a $245,600 loan. They are told that
the broker fee will cost two points. What is the dollar amount
of the broker fee? - Correct Answers ✅$4,912 include
equation
A fixed-rate qualified mortgage that is not a higher priced
mortgage - Correct Answers ✅A creditor may include a
prepayment penalty provision
A fixed-rate qualified mortgage that is not a higher priced
mortgage - Correct Answers ✅A creditor may include a
prepayment penalty provision
A float agreement - Correct Answers ✅An agreement a
borrower makes with a lender allowing their interest rate to
rise or fall with the market
A float agreement - Correct Answers ✅An agreement a
borrower makes with a lender allowing their interest rate to
rise or fall with the market
A hazard insurance company hosts a dinner for the
employees of a mortgage broker. The designated broker
encourages the employees to send clients to the insurance
company. Who has violated RESPA - Correct Answers
,Mortgage loan originator EXAM
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025)
✅Both the hazardous insurance company and the mortgage
broker
A hazard insurance company hosts a dinner for the
employees of a mortgage broker. The designated broker
encourages the employees to send clients to the insurance
company. Who has violated RESPA - Correct Answers
✅Both the hazardous insurance company and the mortgage
broker
A home purchase - Correct Answers ✅In which of the
followinf transactions must the CFPB's "your home loan tool
kit" booklet be provides?
A loan with a balloon payment provision - Correct Answers
✅Which of the following loan types is best described as a
loan with a payment schedule made up of a series of small
periodic payments and a larger lump sum due upon maturity?
A loan with a balloon payment provision - Correct Answers
✅Which of the following loan types is best described as a
loan with a payment schedule made up of a series of small
periodic payments and a larger lump sum due upon maturity?
, Mortgage loan originator EXAM
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025)
A loan with a balloon provision - Correct Answers ✅A loan
with a payment schedule made up of a series of small
periodic payments Nd a larger lump sum due upon maturity
A loan with a balloon provision - Correct Answers ✅A loan
with a payment schedule made up of a series of small
periodic payments Nd a larger lump sum due upon maturity
A mortgage broker is unable to assist a client and refers him
to another mortgage broker for originating services. The
second broker pays the referring broker a fee for providing
the lead. Which of the following is correct. - Correct
Answers ✅Payment lf the fee is illegal.
A mortgage broker is unable to assist a client and refers him
to another mortgage broker for originating services. The
second broker pays the referring broker a fee for providing
the lead. Which of the following is correct. - Correct
Answers ✅Payment lf the fee is illegal.
A mortgage broker pays for title services on behalf of the
developer. In return the developer agrees to refer prospective
buyers to the mortgage broker? Who has violated RESPA -
Correct Answers ✅Both
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025)
A _____ is a loan with an interest rate that can adjust monthly
and also offers a borrower a number of payment choices such
as 30 or 15 year P&i, interest only if 1% minimum payment
which may result in negative amortization. - Correct
Answers ✅Option-ARM
A _____ is a loan with an interest rate that can adjust monthly
and also offers a borrower a number of payment choices such
as 30 or 15 year P&i, interest only if 1% minimum payment
which may result in negative amortization. - Correct
Answers ✅Option-ARM
A borrower has applied for a refinance on her property valued
at $235,000. She currently has a HELLC with a $47,000 limit
and currently owes $25,850. The borrower has applied for a
first mortgage of $164,500. Which of the following LTV, CLTV,
and HLTV are accurate based on this information ? - Correct
Answers ✅70%/81%/90%
A conventional loan that exceeds Fannie Mae and Freddie
macs maximum loan limits - Correct Answers ✅A non
confirming loan
A conventional loan that exceeds Fannie Mae and Freddie
macs maximum loan limits - Correct Answers ✅A non
confirming loan
,Mortgage loan originator EXAM
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025)
A couple has qualified for a $245,600 loan. They are told that
the broker fee will cost two points. What is the dollar amount
of the broker fee? - Correct Answers ✅$4,912 include
equation
A fixed-rate qualified mortgage that is not a higher priced
mortgage - Correct Answers ✅A creditor may include a
prepayment penalty provision
A fixed-rate qualified mortgage that is not a higher priced
mortgage - Correct Answers ✅A creditor may include a
prepayment penalty provision
A float agreement - Correct Answers ✅An agreement a
borrower makes with a lender allowing their interest rate to
rise or fall with the market
A float agreement - Correct Answers ✅An agreement a
borrower makes with a lender allowing their interest rate to
rise or fall with the market
A hazard insurance company hosts a dinner for the
employees of a mortgage broker. The designated broker
encourages the employees to send clients to the insurance
company. Who has violated RESPA - Correct Answers
,Mortgage loan originator EXAM
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025)
✅Both the hazardous insurance company and the mortgage
broker
A hazard insurance company hosts a dinner for the
employees of a mortgage broker. The designated broker
encourages the employees to send clients to the insurance
company. Who has violated RESPA - Correct Answers
✅Both the hazardous insurance company and the mortgage
broker
A home purchase - Correct Answers ✅In which of the
followinf transactions must the CFPB's "your home loan tool
kit" booklet be provides?
A loan with a balloon payment provision - Correct Answers
✅Which of the following loan types is best described as a
loan with a payment schedule made up of a series of small
periodic payments and a larger lump sum due upon maturity?
A loan with a balloon payment provision - Correct Answers
✅Which of the following loan types is best described as a
loan with a payment schedule made up of a series of small
periodic payments and a larger lump sum due upon maturity?
, Mortgage loan originator EXAM
QUESTIONS AND ANSWERS 100%
SOLVED (Newest 2025)
A loan with a balloon provision - Correct Answers ✅A loan
with a payment schedule made up of a series of small
periodic payments Nd a larger lump sum due upon maturity
A loan with a balloon provision - Correct Answers ✅A loan
with a payment schedule made up of a series of small
periodic payments Nd a larger lump sum due upon maturity
A mortgage broker is unable to assist a client and refers him
to another mortgage broker for originating services. The
second broker pays the referring broker a fee for providing
the lead. Which of the following is correct. - Correct
Answers ✅Payment lf the fee is illegal.
A mortgage broker is unable to assist a client and refers him
to another mortgage broker for originating services. The
second broker pays the referring broker a fee for providing
the lead. Which of the following is correct. - Correct
Answers ✅Payment lf the fee is illegal.
A mortgage broker pays for title services on behalf of the
developer. In return the developer agrees to refer prospective
buyers to the mortgage broker? Who has violated RESPA -
Correct Answers ✅Both
