Truth in lending act Study guides, Class notes & Summaries
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20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW 100% Pass
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20-HR SAFE Comprehensive Mortgage 
Loan Originator Fundamentals HW 100% 
 
Pass 
 
Mortgage loan originators who make cold calls must comply with the requirements of the 
National Do-Not-Call rules. The loan originator needs to update any download of the registry at 
least every: 
 
31 days 
18 Months 
7 days 
Year 31 Days 
 
The appraisal approach that is used as the best indicator of value for existing properties is: 
 
Similar property approach 
Fair market value approach 
Market data approac...
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NMLS Safe Test Mortgage Licensing Practice Exam Q's with Complete Solutions
- Exam (elaborations) • 66 pages • 2024
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NMLS Safe Test Mortgage Licensing 
Practice Exam Q's with Complete 
 
Solutions 
 
Which federal law requires that the Loan Estimate be provided to the borrower within three 
business days of the time of loan application is taken? TILA 
 
What type of scam entails homeowners who are encouraged to refinance their property over and 
over until little or no equity remains? Loan flipping or churning 
 
After a loan closing, funds are disbursed. When are the funds disbursed for an owner-occupied, 
r...
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MLO National Exam Questions with Complete Solutions | A+ Grade
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According to the FCRA, when must a credit agency give a consumer a free copy of his credit report? 
A.)If the loan application is denied because of information in the report 
B.) Whenever he request it A.)If the loan application is denied because of information in the report 
A Consumer comes into your office to apply for a loan. The Home Mortgage Disclosure Act requires you 
to collect information about her race. If she does not wish to provide information for that section of the 
application, ...
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MLO SAFE NMLS Safe Test Practice Questions and Answers 100% Correct
- Exam (elaborations) • 30 pages • 2023
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MLO SAFE NMLS Safe Test Practice Questions and Answers 100% CorrectMLO SAFE NMLS Safe Test Practice Questions and Answers 100% CorrectMLO SAFE NMLS Safe Test Practice Questions and Answers 100% CorrectMLO SAFE NMLS Safe Test Practice Questions and Answers 100% Correct 
Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - ANSWER-...
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MLO National Exam Questions And Answers Rated A+ New Update Assured Satisfaction
- Exam (elaborations) • 44 pages • 2024
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According to the FCRA, when must a credit agency give a consumer a free copy of his credit report? 
A.)If the loan application is denied because of information in the report 
B.) Whenever he request it - A.)If the loan application is denied because of information in the 
report 
A Consumer comes into your office to apply for a loan. The Home Mortgage Disclosure Act requires you 
to collect information about her race. If she does not wish to provide information for that section of the 
applicatio...
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Texas Principles of Real Estate 2 (2023/ 2024) Exam | Guide with Verified Answers| 100%
- Exam (elaborations) • 52 pages • 2023
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Texas Principles of Real Estate 2 (2023/ 2024) 
Exam | Guide with Verified Answers| 100% 
 
QUESTION 
 Loan Origination Fee? 
 
 
Answer: 
The financing charge that a lender requires. 
 
 
 
QUESTION 
 VA Loan? 
 
 
Correct 
Answer: 
A loan made to qualified veterans for the purchase of real property wherein the Department of 
Veteran's Affairs guarantees the lender payment of the mortgage. Guarenteed Loan. 
 
 
 
QUESTION 
 FHA Loans? 
 
 
Answer: 
Insured. 203b, 203h, Rehab loa...
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Real Estate Colibri Practice Exam | 100% Correct Answers | Verified 2024 Version
- Exam (elaborations) • 14 pages • 2024
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Which item below can help protect against a home with a listed incorrect street address or legal 
description in public records? - Standard coverage title insurance policy and extended coverage title 
insurance policy 
Robert owns his property and enjoys the full bundle of rights. Can he use his property as collateral for 
debt? - Yes. Robert can encumber his property 
Which location is an industrial coal plant least likely to be located? - Adjacent to an elementary 
school 
What is the least li...
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PSI Salesperson Real Estate Practice Exam Version 2 (2023/ 2024 Update) | Questions and Verified Answers|100% Correct
- Exam (elaborations) • 17 pages • 2023
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PSI Salesperson Real Estate Practice Exam Version 2 (2023/ 2024 Update) | Questions and Verified Answers|100% Correct 
 
Q: Even if a loan applicant's current income seems adequate to qualify for a certain loan, the Equal Credit Opportunity Act allows a lender to refuse the loan as a high risk if the applicant's main source of income is 
 
 
Answer: 
commission sales. 
 
 
 
Q: According to the Truth-in-Lending Act, if any "trigger terms" are used in an ad, all of the following disclosures M...
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Compucram questions with correct answers
- Exam (elaborations) • 32 pages • 2023
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An objective of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 is to Answer eliminate unfair practices relating to compensation paid to mortgage loan originators. 
 
The Federal Reserve Board crafted a ruling, the Federal Reserve Loan Originator Compensation Rule, which, as a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, set standards to prevent unfair practices by mortgage loan originators related to compensation paid by borrowers. 
 
Lo...
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NMLS SAFE ACT MLO Exam - Ethics and Fraud Questions and Answers Already Passed
- Exam (elaborations) • 65 pages • 2024
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NMLS SAFE ACT MLO Exam - Ethics and 
Fraud Questions and Answers Already 
 
Passed 
 
A lender provides a borrower with an initial amortization schedule for Private Mortgage 
Insurance (PMI) disclosure at loan closing for an adjustable-rate mortgage. The lender MUST 
also provide a written notice stating the 
 
A. Lender's right to increase the monthly payment amount for PMI 
B. Borrower's right to refuse a PMI 
C. Lender's right to extend the time for monthly payments for a PMI 
D. Borrower...
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