New Jersey Exam with Correct Answers
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Terms in this set (71)
When a mortgage loan At renewal x Immediately xWithin 30 days xWithin five
originator's affiliation with calendar daysc
a business licensee is
terminated, the loan
originator license must be
returned to the
Department:
This term refers to an Qualified individual c
individual who is licensed
as a residential mortgage
lender or broker, meets
mortgage loan originator
licensing requirements,
and is an officer, director,
partner, owner, or
principal of the business
licensee:
An annual fee charged on $50 or 1% of the line of credit c
an open-end secondary
mortgage cannot exceed:
A residential mortgage Application fees, broker fees, and third-party fees c
broker may only collect:
, To change its name or Commissioner c
address, a licensee must
submit written notice to
the:
The primary law Residential Mortgage Lending Act c
governing mortgage
professionals in New
Jersey is the:
A transitional mortgage A period of 365 days has passed c
loan originator license is in
effect until the earliest of
any of the following
events occurs, EXCEPT:
If the interest rate, Midnight on the third business day before the date of
discount points, or fees closing c
stated in a written
commitment are subject to
change before closing,
they must be fixed no later
than:
A mortgage loan that is 5% c
not a high-cost loan may
be subject to a late
payment fee of no more
than:
If a licensee changes the Within 30 days x
location of their records,
the Commissioner must be
notified:
For knowingly violating Crime of the third degree c
the law, Lester is guilty of
a:
Save
Terms in this set (71)
When a mortgage loan At renewal x Immediately xWithin 30 days xWithin five
originator's affiliation with calendar daysc
a business licensee is
terminated, the loan
originator license must be
returned to the
Department:
This term refers to an Qualified individual c
individual who is licensed
as a residential mortgage
lender or broker, meets
mortgage loan originator
licensing requirements,
and is an officer, director,
partner, owner, or
principal of the business
licensee:
An annual fee charged on $50 or 1% of the line of credit c
an open-end secondary
mortgage cannot exceed:
A residential mortgage Application fees, broker fees, and third-party fees c
broker may only collect:
, To change its name or Commissioner c
address, a licensee must
submit written notice to
the:
The primary law Residential Mortgage Lending Act c
governing mortgage
professionals in New
Jersey is the:
A transitional mortgage A period of 365 days has passed c
loan originator license is in
effect until the earliest of
any of the following
events occurs, EXCEPT:
If the interest rate, Midnight on the third business day before the date of
discount points, or fees closing c
stated in a written
commitment are subject to
change before closing,
they must be fixed no later
than:
A mortgage loan that is 5% c
not a high-cost loan may
be subject to a late
payment fee of no more
than:
If a licensee changes the Within 30 days x
location of their records,
the Commissioner must be
notified:
For knowingly violating Crime of the third degree c
the law, Lester is guilty of
a:
