NMLS Study Guide Exam QUESTIONS AND 100% CORRECT ANSWERS UPDATED FOR 2025/2026.

NMLS Study Guide Exam QUESTIONS AND 100% CORRECT ANSWERS UPDATED FOR 2025/2026. What does the Real Estate Settlement Procedures Act do? for loans on residential properties (1-4 units) What can not be exchanged? Provides consumer protection Nothing of value can be given in exchange for the referral of business with the exception of real estate brokerage firms that are allowed to exchange referrals between themselves What regulation is RESPA? Regulation X RESPA is primarily involved with what? The disclosure of closing costs and the prevention of kickbacks, which may raise the amount of closing costs to the consumer What entity enforces the RESPA regulations? (CFPB) What does RESPA not apply towards? -Vacant Land The Consumer Financial Protection Bureau