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MLO SAFE EXAM 2024-2025 |ACTUAL COMPLETE QUESTIONS AND CORRECT ANSWERS
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60
January 2025
2024/2025
A+
Wraparound Mortgage - Correct answer-Results when an existing assumable loan is combined with a new loan, resulting in an interest rate somewhere between the old rate and the current market rate.
Warranty Deed - Correct answer-A deed that contains a covenant that the grantor will protect the grantee against any and all claims.
URAR - Correct answer-Uniform Residential Appraisal Report
Usury - Correct answer-Interest charged in excess of the legal rate established by law.
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