NMLS SAFE EXAM 2023 Graded A+, NMLS Practice Test Hard Questions and Answers 2023 Graded A+, NMLS 2023 Book 250 Q&A pt.3 (tres) Solved 100% Correct, NMLS 2023 Exam Review with Complete Solutions, NMLS Exam Review 2022/2023 Latest Updated with Complete Solutions, NMLS 2023 Exam Review solved 100% Co...
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Primary Mortgage Market - ANSWER-Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan - ANSWER-When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C....
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Add to cartPrimary Mortgage Market - ANSWER-Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan - ANSWER-When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C....
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 ...
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Add to cartA 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 ...
Which of the following is not exempted from the Fair Housing Act? A) Rental of a room in a dwelling with no more than 4 independent units B) Housing operated by private organizations C) Housing operated by private clubs D) Multi-family home without the use of a broker or real estate agent - ANSW...
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Add to cartWhich of the following is not exempted from the Fair Housing Act? A) Rental of a room in a dwelling with no more than 4 independent units B) Housing operated by private organizations C) Housing operated by private clubs D) Multi-family home without the use of a broker or real estate agent - ANSW...
What is a Mortgage? - ANSWER-Is an agreement between a borrower and a lender in which the borrower conveys an interest in a property to the lender as security for a loan. Mortgage Bankers - ANSWER-They are financial intermediaries that serve parties on opposite ends of the mortgage lending transa...
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Add to cartWhat is a Mortgage? - ANSWER-Is an agreement between a borrower and a lender in which the borrower conveys an interest in a property to the lender as security for a loan. Mortgage Bankers - ANSWER-They are financial intermediaries that serve parties on opposite ends of the mortgage lending transa...
What law deals with credit, APR, and advertising of consumer loans? - ANSWER-TILA/Regulation Z Which regulation prohibits kickbacks? - ANSWER-RESPA/Regulation X Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? - ANSWER-HPA/Homeowners Protection Act Which re...
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Add to cartWhat law deals with credit, APR, and advertising of consumer loans? - ANSWER-TILA/Regulation Z Which regulation prohibits kickbacks? - ANSWER-RESPA/Regulation X Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? - ANSWER-HPA/Homeowners Protection Act Which re...
What is a Mortgage? - ANSWER-Is an agreement between a borrower and a lender in which the borrower conveys an interest in a property to the lender as security for a loan. Mortgage Bankers - ANSWER-They are financial intermediaries that serve parties on opposite ends of the mortgage lending transa...
Preview 2 out of 7 pages
Add to cartWhat is a Mortgage? - ANSWER-Is an agreement between a borrower and a lender in which the borrower conveys an interest in a property to the lender as security for a loan. Mortgage Bankers - ANSWER-They are financial intermediaries that serve parties on opposite ends of the mortgage lending transa...
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