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MLO Bundled Exams Questions With Complete Solutions (Graded A+) Guaranteed Success
MLO Bundled Exams Questions With Complete Solutions (Graded A+) Guaranteed Success
[Show more]MLO Bundled Exams Questions With Complete Solutions (Graded A+) Guaranteed Success
[Show more]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 int...
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Add to cartAccording 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 int...
1. Included in the Loan Estimate, all of the following are part of the finance charge except the: 
(A) appraisal cost. 
(B) VA funding fee. 
(C) per diem interest. 
(D) origination charges - Answer A) appraisal cost. 
2. A buyer has made an earnest money payment of $5,000. The buyer pays an addition...
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Add to cart1. Included in the Loan Estimate, all of the following are part of the finance charge except the: 
(A) appraisal cost. 
(B) VA funding fee. 
(C) per diem interest. 
(D) origination charges - Answer A) appraisal cost. 
2. A buyer has made an earnest money payment of $5,000. The buyer pays an addition...
AARMR stands for - American Association of Residential Mortgage Regulations 
AML - Anti-Money Laundering 
Blockbusting - Illegal practice of inducing homeowners to sell their properties cheaply by telling 
them that a certain people of a certain race, national origin or religion are moving into the ...
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Add to cartAARMR stands for - American Association of Residential Mortgage Regulations 
AML - Anti-Money Laundering 
Blockbusting - Illegal practice of inducing homeowners to sell their properties cheaply by telling 
them that a certain people of a certain race, national origin or religion are moving into the ...
1.The practice of getting people to sell their homes at bargain prices by suggesting that certain ethnic 
groups are going to move into the area is nicknamed: 
1.Price fixing 2.Redlining 3.Steering 4.Blockbusting - Correct Choice:4 
2.You and the borrower believe an Adjustable Rate Mortgage would be...
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Add to cart1.The practice of getting people to sell their homes at bargain prices by suggesting that certain ethnic 
groups are going to move into the area is nicknamed: 
1.Price fixing 2.Redlining 3.Steering 4.Blockbusting - Correct Choice:4 
2.You and the borrower believe an Adjustable Rate Mortgage would be...
An Approve/Eligible determination: 
1. Is an indication that a property appraised for its sales price 
2. Authorization to release funds in a refinance transaction 
3. An automated loan approval from the Fannie Mae Du system 
4. A recommendation that is received by the Freddie Mac loan prospector au...
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Add to cartAn Approve/Eligible determination: 
1. Is an indication that a property appraised for its sales price 
2. Authorization to release funds in a refinance transaction 
3. An automated loan approval from the Fannie Mae Du system 
4. A recommendation that is received by the Freddie Mac loan prospector au...
What must a borrower do to avoid having late payments reported to a credit bureau? - Pay within 
30 days of due date 
Max penalty if a borrower is required to use a specific title company or settlement agent? - 3 
times the fee 
What should not be over-weighted in an analysis of borrower repayment c...
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Add to cartWhat must a borrower do to avoid having late payments reported to a credit bureau? - Pay within 
30 days of due date 
Max penalty if a borrower is required to use a specific title company or settlement agent? - 3 
times the fee 
What should not be over-weighted in an analysis of borrower repayment c...
All of the following information is provided under Section X of the 1003, except: 
a.) Ethnicity 
b.) Name and address of employer 
c.) Sex 
d.) Race - Answer b.) Name and address of employer 
Section X of the URLA contains information on: 
a.) Assets and Liabilities 
b.) Information for Government ...
Preview 2 out of 6 pages
Add to cartAll of the following information is provided under Section X of the 1003, except: 
a.) Ethnicity 
b.) Name and address of employer 
c.) Sex 
d.) Race - Answer b.) Name and address of employer 
Section X of the URLA contains information on: 
a.) Assets and Liabilities 
b.) Information for Government ...
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 
__________________________. - Predatory Lending. 
RESPA-Real Estate Settlement Procedures Act - The Feder...
Preview 4 out of 38 pages
Add to cartTaking 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 
__________________________. - Predatory Lending. 
RESPA-Real Estate Settlement Procedures Act - The Feder...
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