9/17/25, 8:33 AM NMLS EXAM fully solved & updated 2025-2026(latest version verified for accuracy) Flashcards | Quizlet
NMLS EXAM fully solved & updated 2025-
2026(latest version verified for accuracy)
Save
Terms in this set (262)
A borrower has gone to Saturday
settlement for a cash-out
refinance on Tuesday for
his principal residence. His
rescission period is over at
midnight on Friday.
According to the
provisions specified under
federal law, what is the
first possible day the loan
could fund?
The amount of the down Trigger Terms
payment, the amount of
the finance charge, or the
number of payments
needed are all examples
of _______________ under TILA.
Which of the following is Escrow Fees
not included in calculating
the APR?
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,9/17/25, 8:33 AM NMLS EXAM fully solved & updated 2025-2026(latest version verified for accuracy) Flashcards | Quizlet
According to fair lending Their race
laws, which of the
following may loan
applicants be asked to
disclose for HMDA data
collection purposes?
Finance charges always Mortgage broker fee
include which of the
following?
HOEPA was enacted as a TILA
part of:
HOEPA would not apply A bridge loan to finance construction
to:
If a creditor denies an Must be provided within 30 days of the decision to
application for a first lien deny
mortgage, a copy of the
appraisal:
The Loan Originator Payments collected by a mortgage company for
Compensation Rule services other than loan origination services
defines compensation to
include all of the
following, except:
Closed-end loans with Higher-priced mortgage loans
rates that exceed the
average prime offer rate,
but are not high enough
to trigger protections
under HOEPA, are known
as:
The mandatory waiting If the consumer requests a waiver due to a bona fide
period between issuance financial emergency
of disclosures and
consummation may be
waived:
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,9/17/25, 8:33 AM NMLS EXAM fully solved & updated 2025-2026(latest version verified for accuracy) Flashcards | Quizlet
There is a ____ accuracy 10%
tolerance for amounts
stated on the Loan
Estimate and the actual
closing costs if the
consumer is allowed to
shop for his/her own
settlement service
provider.
The disclosure A loan to purchase a duplex and rehabilitate it into a
requirements of RESPA single family dwelling
would apply to which of
the following loans?
Mr. Jones's loan his credit score
application has been
denied and he is provided
with an Adverse Action
Notice as required by
ECOA. Which of the
following pieces of
information would not be
included on the notice?
This Rule applies to commercial communications used
MAP rule to market mortgage loan products and services to
consumers.
Under the Fair Credit Reporting Act, which of the
following entities has the burden of protecting a
credit reporting agency
consumer's privacy when his/her credit information is
being reported?
A borrower's current loan Under the Gramm-Leach-Bliley Act, which of the
balances following is considered nonpublic information?
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, 9/17/25, 8:33 AM NMLS EXAM fully solved & updated 2025-2026(latest version verified for accuracy) Flashcards | Quizlet
Note that the applicant If a loan applicant chooses not to disclose his or her
has declined to answer race on a loan application, what recourse does a
and select a race based mortgage professional have?
on visual observation
Under the Homeowners Protection Act, borrowers
can request that lenders cancel PMI when their loan
80%; 78%
balance is less than ____, or a lender may collect PMI
until ____ loan-to-value is reached.
The penalties for paying Fines of up to $10,000 and up to one year in prison
or accepting an illegal
referral fee are:
The consumer is All but which of the following may serve as a legal,
purchasing a home non-discriminatory basis for denying a mortgage loan
located in a application?
neighborhood primarily
occupied by minorities
The Loan Originator Compensation Rule is intended
steering
to discourage which of the following practices?
The Do-Not-Call Implementation Act authorized the
The Do-Not-Call Registr
implementation and enforcement of:
Finance charges always include which of the
Mortgage broker fee
following?
Which of the following is not included in calculating
escrow fees
the APR?
The broker should obtain If a mortgage broker decides to use telemarketing to
access to the Do-Not-Call establish leads for loan origination, which of the
Registry following should occur?
The third business day XYZ Mortgage Company just mailed a Closing
after the Closing Disclosure to a consumer. The waiting period prior to
Disclosure is mailed closing will begin:
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NMLS EXAM fully solved & updated 2025-
2026(latest version verified for accuracy)
Save
Terms in this set (262)
A borrower has gone to Saturday
settlement for a cash-out
refinance on Tuesday for
his principal residence. His
rescission period is over at
midnight on Friday.
According to the
provisions specified under
federal law, what is the
first possible day the loan
could fund?
The amount of the down Trigger Terms
payment, the amount of
the finance charge, or the
number of payments
needed are all examples
of _______________ under TILA.
Which of the following is Escrow Fees
not included in calculating
the APR?
https://quizlet.com/1077864272/nmls-exam-fully-solved-updated-2025-2026latest-version-verified-for-accuracy-flash-cards/?new 1/36
,9/17/25, 8:33 AM NMLS EXAM fully solved & updated 2025-2026(latest version verified for accuracy) Flashcards | Quizlet
According to fair lending Their race
laws, which of the
following may loan
applicants be asked to
disclose for HMDA data
collection purposes?
Finance charges always Mortgage broker fee
include which of the
following?
HOEPA was enacted as a TILA
part of:
HOEPA would not apply A bridge loan to finance construction
to:
If a creditor denies an Must be provided within 30 days of the decision to
application for a first lien deny
mortgage, a copy of the
appraisal:
The Loan Originator Payments collected by a mortgage company for
Compensation Rule services other than loan origination services
defines compensation to
include all of the
following, except:
Closed-end loans with Higher-priced mortgage loans
rates that exceed the
average prime offer rate,
but are not high enough
to trigger protections
under HOEPA, are known
as:
The mandatory waiting If the consumer requests a waiver due to a bona fide
period between issuance financial emergency
of disclosures and
consummation may be
waived:
https://quizlet.com/1077864272/nmls-exam-fully-solved-updated-2025-2026latest-version-verified-for-accuracy-flash-cards/?new 2/36
,9/17/25, 8:33 AM NMLS EXAM fully solved & updated 2025-2026(latest version verified for accuracy) Flashcards | Quizlet
There is a ____ accuracy 10%
tolerance for amounts
stated on the Loan
Estimate and the actual
closing costs if the
consumer is allowed to
shop for his/her own
settlement service
provider.
The disclosure A loan to purchase a duplex and rehabilitate it into a
requirements of RESPA single family dwelling
would apply to which of
the following loans?
Mr. Jones's loan his credit score
application has been
denied and he is provided
with an Adverse Action
Notice as required by
ECOA. Which of the
following pieces of
information would not be
included on the notice?
This Rule applies to commercial communications used
MAP rule to market mortgage loan products and services to
consumers.
Under the Fair Credit Reporting Act, which of the
following entities has the burden of protecting a
credit reporting agency
consumer's privacy when his/her credit information is
being reported?
A borrower's current loan Under the Gramm-Leach-Bliley Act, which of the
balances following is considered nonpublic information?
https://quizlet.com/1077864272/nmls-exam-fully-solved-updated-2025-2026latest-version-verified-for-accuracy-flash-cards/?new 3/36
, 9/17/25, 8:33 AM NMLS EXAM fully solved & updated 2025-2026(latest version verified for accuracy) Flashcards | Quizlet
Note that the applicant If a loan applicant chooses not to disclose his or her
has declined to answer race on a loan application, what recourse does a
and select a race based mortgage professional have?
on visual observation
Under the Homeowners Protection Act, borrowers
can request that lenders cancel PMI when their loan
80%; 78%
balance is less than ____, or a lender may collect PMI
until ____ loan-to-value is reached.
The penalties for paying Fines of up to $10,000 and up to one year in prison
or accepting an illegal
referral fee are:
The consumer is All but which of the following may serve as a legal,
purchasing a home non-discriminatory basis for denying a mortgage loan
located in a application?
neighborhood primarily
occupied by minorities
The Loan Originator Compensation Rule is intended
steering
to discourage which of the following practices?
The Do-Not-Call Implementation Act authorized the
The Do-Not-Call Registr
implementation and enforcement of:
Finance charges always include which of the
Mortgage broker fee
following?
Which of the following is not included in calculating
escrow fees
the APR?
The broker should obtain If a mortgage broker decides to use telemarketing to
access to the Do-Not-Call establish leads for loan origination, which of the
Registry following should occur?
The third business day XYZ Mortgage Company just mailed a Closing
after the Closing Disclosure to a consumer. The waiting period prior to
Disclosure is mailed closing will begin:
https://quizlet.com/1077864272/nmls-exam-fully-solved-updated-2025-2026latest-version-verified-for-accuracy-flash-cards/?new 4/36
