NMLS

NMLS Exam Questions with All Correct A Requirement 2 of Safeguard Rule (IARCIEECR) - Answer-Identify and access the risks to customer information as well as evaluate the effectiveness of controlling the risks. EXPA (RESPA) - Answer-Applies to federally related mortgage loans Funds insured by the government Funds from a lender REGULATED by the government Intended for sale to Fannie or Freddie Made by a creditor regulated under TILA RESPA - Answer-Real Estate Settlement Procedures Act HUD ...

NMLS EXAM PREP QUESTIONS WITH CORRECT ANSWERS.docx On what page of the Closing Disclosure would the consumer find information about the cash needed to close, in comparison to information on the Loan Estimate? - Answer- Page 3 This is calculated by dividing PITI by the borrower's monthly gross income: - Answer- Housing expense ratio You have taken a loan application from a customer with an excellent credit score. When should you advise him/her about the status of the application? - Answ...

A discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the interest rate on the mortgage loan B.) A mortgage broker at the time of application to obtain a favorable rate C.) The seller as part of the closing costs of a loan D.) A lender to ensure against foreclosure - ANSWER-A.) A lender to decrease the interest rate on the mortgage loan A buyer has made an earnest money payment of $5,000. The buyer pays an additional $2,000 in option money to be c...

NMLS Practice Test Hard Questions with correct answers.

NMLS questions with correct answers

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NMLS Exam Questions with correct answer1

NMLS Practice Test questions with correct answers