800 Key Facts for MLO Exam Question and answers correctly solved 2023/2024 Exam (elaborations) Exam MLO Question and answers 2023/2024 verified to pass Exam (elaborations) MLO - Study Material Question and answers already passed 2023/2024 Exam (elaborations) MLO Exam - Vocabulary Question and...
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SAFE MLO Exam Prep Questions with complete solution 2023/2024 ECOA is Regulation ______ - correct answer Regulation B TILA is administered by ______ - correct answer CFPB HOEPA considers a loan to be high cost if total charges to borrower exceeds ______ % of loan amount? - correct answer 5%...
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Add to cartSAFE MLO Exam Prep Questions with complete solution 2023/2024 ECOA is Regulation ______ - correct answer Regulation B TILA is administered by ______ - correct answer CFPB HOEPA considers a loan to be high cost if total charges to borrower exceeds ______ % of loan amount? - correct answer 5%...
SAFE MLO Exam 2021(UPDATED) Question and answers rated A+ AARMR stands for - correct answer American Association of Residential Mortgage Regulations AML - correct answer Anti-Money Laundering Blockbusting - correct answer Illegal practice of inducing homeowners to sell their properties cheap...
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Add to cartSAFE MLO Exam 2021(UPDATED) Question and answers rated A+ AARMR stands for - correct answer American Association of Residential Mortgage Regulations AML - correct answer Anti-Money Laundering Blockbusting - correct answer Illegal practice of inducing homeowners to sell their properties cheap...
MLO Question and answers 100% correct 2023/2024CRA stands for - Credit Reporting Agency Name the 3 CRAs - Equifax, TransUnion, Experian Length of time a chapter 7 bankruptcy shows on credit report - 10 years Length of time chapter 13 bankruptcy shows on credit report - 7 years Length of ...
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Add to cartMLO Question and answers 100% correct 2023/2024CRA stands for - Credit Reporting Agency Name the 3 CRAs - Equifax, TransUnion, Experian Length of time a chapter 7 bankruptcy shows on credit report - 10 years Length of time chapter 13 bankruptcy shows on credit report - 7 years Length of ...
MLO Test Question and answers already passed 2023/2024This form of occupancy would have the lowest interest based on risk - correct answer owner-occupied This form of occupancy would have the highest interest based on risk - correct answer non-owner occupied Characterized by ownership extendin...
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Add to cartMLO Test Question and answers already passed 2023/2024This form of occupancy would have the lowest interest based on risk - correct answer owner-occupied This form of occupancy would have the highest interest based on risk - correct answer non-owner occupied Characterized by ownership extendin...
MLO TEST STUDY TERMS Question and answers 2023/2024 verified to pass DODD-FRANK ACT - correct answer LEGISLATION THAT PROHIBITS STEERING CONSUMERS TO LOAN PRODUCTS THAT RESULT IN GREATER COMPENSATION TOR - correct answer Total Obligations Ratio APOR - correct answer Average Prime Offer Rate ...
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Add to cartMLO TEST STUDY TERMS Question and answers 2023/2024 verified to pass DODD-FRANK ACT - correct answer LEGISLATION THAT PROHIBITS STEERING CONSUMERS TO LOAN PRODUCTS THAT RESULT IN GREATER COMPENSATION TOR - correct answer Total Obligations Ratio APOR - correct answer Average Prime Offer Rate ...
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MLO Test Questions and answers correctly solved 2023/2024Which of the following best describes a 2nd mortgage loan? (A) A conventional mortgage that is conforming (B) A conventional mortgage that is non-conforming (C) A conforming loan that is non-conventional (D) A non-conforming loan that is n...
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Add to cartMLO Test Questions and answers correctly solved 2023/2024Which of the following best describes a 2nd mortgage loan? (A) A conventional mortgage that is conforming (B) A conventional mortgage that is non-conforming (C) A conforming loan that is non-conventional (D) A non-conforming loan that is n...
MLO SAFE Exam Questions with complete solution 2023/2024Wraparound 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 co...
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Add to cartMLO SAFE Exam Questions with complete solution 2023/2024Wraparound 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 co...
MLO PRACTICE EXAM1 Question and answers rated A+ 2023/2024Federally chartered bank loan officers - correct answer Which of the following do not need to be licensed? Year - correct answer Mortgage loan originators renew their licenses every: They are bank employees - correct answer What May be ...
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Add to cartMLO PRACTICE EXAM1 Question and answers rated A+ 2023/2024Federally chartered bank loan officers - correct answer Which of the following do not need to be licensed? Year - correct answer Mortgage loan originators renew their licenses every: They are bank employees - correct answer What May be ...
MLO Practice Exam Question and answers 100% correct 2023/2024Per Regulation Z, which of the following advertisements requires full disclosure of credit terms by an MLO? (A) "Affordable rates available" (B) "Stop paying rent" (C) "Low down payment" (D) "Assume loan at 6% interest" - corre...
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Add to cartMLO Practice Exam Question and answers 100% correct 2023/2024Per Regulation Z, which of the following advertisements requires full disclosure of credit terms by an MLO? (A) "Affordable rates available" (B) "Stop paying rent" (C) "Low down payment" (D) "Assume loan at 6% interest" - corre...
MLO Practice Exam Question and answers already passed 2023/2024 There are five areas on the National Exam, which of the following is NOT one of those areas? Your Answer - correct answer State Regulations Which law was passed in 2010, which led to the creation of the CFPB, to help prevent anothe...
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Add to cartMLO Practice Exam Question and answers already passed 2023/2024 There are five areas on the National Exam, which of the following is NOT one of those areas? Your Answer - correct answer State Regulations Which law was passed in 2010, which led to the creation of the CFPB, to help prevent anothe...
MLO Practice Exam Question and answers correctly solved 2023/2024 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 - correct answer b.) Name and address of employer Section X of the URLA cont...
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Add to cartMLO Practice Exam Question and answers correctly solved 2023/2024 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 - correct answer b.) Name and address of employer Section X of the URLA cont...
MLO National Exam Questions with complete solution 2023/2024 PMI (Private Mortgage Insurance) - correct answer Insurance that protects the lender in case the borrower defaults -equity less than 20% of the home's value -varies in cost by length of time required Form 1008 form - correct answer ...
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Add to cartMLO National Exam Questions with complete solution 2023/2024 PMI (Private Mortgage Insurance) - correct answer Insurance that protects the lender in case the borrower defaults -equity less than 20% of the home's value -varies in cost by length of time required Form 1008 form - correct answer ...
MLO National Exam Question and answers rated A+ 2023/2024 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 - correct answer A.)If the loan app...
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Add to cartMLO National Exam Question and answers rated A+ 2023/2024 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 - correct answer A.)If the loan app...
MLO exam Question and answers 100% correct 2023/2024 What is the form to confirm tax records that's filled out with IRS? - correct answer 4506-T form APR - correct answer Annual percentage rate What is an APR? - correct answer The annual rate of interest that is charged for using credit W...
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Add to cartMLO exam Question and answers 100% correct 2023/2024 What is the form to confirm tax records that's filled out with IRS? - correct answer 4506-T form APR - correct answer Annual percentage rate What is an APR? - correct answer The annual rate of interest that is charged for using credit W...
MLO EXAM Question and answers already passed 2023/2024Massachusetts' predatory lending law - correct answer Predatory Home Loan Practices Act the S.A.F.E. Act - correct answer Secure and Fair Enforcement for Mortgage Licensing Act of 2008 Massachusetts General Laws (MGL c. 255F) - correct ans...
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Add to cartMLO EXAM Question and answers already passed 2023/2024Massachusetts' predatory lending law - correct answer Predatory Home Loan Practices Act the S.A.F.E. Act - correct answer Secure and Fair Enforcement for Mortgage Licensing Act of 2008 Massachusetts General Laws (MGL c. 255F) - correct ans...
MLO Exam Review Question and answers 2023/2024 verified to pass What do mortgage brokers do? - correct answer Act as intermediaries between borrowers and lenders. Which statement about Ginnie Mae is true? - correct answer Ginnie Mae guarantees mortgage-backed securities. All of the following ...
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Add to cartMLO Exam Review Question and answers 2023/2024 verified to pass What do mortgage brokers do? - correct answer Act as intermediaries between borrowers and lenders. Which statement about Ginnie Mae is true? - correct answer Ginnie Mae guarantees mortgage-backed securities. All of the following ...
MLO Exam 2021, Module 12-15(UPDATED) Question and answers correctly solved UST - correct answer uniform state test depository institution - correct answer Any bank or savings association including credit union Loan Processor/Underwriter - correct answer an individual who performs clerical or...
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Add to cartMLO Exam 2021, Module 12-15(UPDATED) Question and answers correctly solved UST - correct answer uniform state test depository institution - correct answer Any bank or savings association including credit union Loan Processor/Underwriter - correct answer an individual who performs clerical or...
MLO Exam 2021, Module 7(updated)Questions with complete solution appraisal management company - correct answer a business entity that - for a management fee - administers a network of certified and licensed appraisers to fulfill real estate appraisal assignments on behalf of mortgage lending instit...
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Add to cartMLO Exam 2021, Module 7(updated)Questions with complete solution appraisal management company - correct answer a business entity that - for a management fee - administers a network of certified and licensed appraisers to fulfill real estate appraisal assignments on behalf of mortgage lending instit...
MLO exam 2021, Module 1(updated) Question and answers rated A+ 2023/2024CFPB - correct answer The Consumer Financial Protection Bureau is an independent federal agency that holds primary responsibility for regulating consumer protection. What is the purpose of the Federal Home Loan Bank Act of 19...
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Add to cartMLO exam 2021, Module 1(updated) Question and answers rated A+ 2023/2024CFPB - correct answer The Consumer Financial Protection Bureau is an independent federal agency that holds primary responsibility for regulating consumer protection. What is the purpose of the Federal Home Loan Bank Act of 19...
MLO Exam - Vocabulary Question and answers 100% correct 2023/2024Primary market - correct answer Lenders make loans directly to Consumer Secondary market - correct answer Private investors and gov't agencies (FNMA, FALMC) buy and sell loans. Servicing - correct answer 1) collecting payments 2...
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Add to cartMLO Exam - Vocabulary Question and answers 100% correct 2023/2024Primary market - correct answer Lenders make loans directly to Consumer Secondary market - correct answer Private investors and gov't agencies (FNMA, FALMC) buy and sell loans. Servicing - correct answer 1) collecting payments 2...
MLO - Study Material Question and answers already passed 2023/2024 The federal Truth in Lending Act - correct answer regulates advertising with references to mortgage interest rates. Which would LEAST LIKELY be a changed circumstance that would trigger the need to provide a new GFE to a borrower...
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Add to cartMLO - Study Material Question and answers already passed 2023/2024 The federal Truth in Lending Act - correct answer regulates advertising with references to mortgage interest rates. Which would LEAST LIKELY be a changed circumstance that would trigger the need to provide a new GFE to a borrower...
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