PREP XL Exams Bundle, rated A+

NMLS Mortgage Prep XL: Questions and answers, rated A+ When ordering an appraisal, it is illegal to... - -Request that the appraiser return a minimum or specific value. Mortgage professionals are permitted to communicate their own or the borrower's opinion when ordering an appraisal; however...

RESPA Prep XL, Exam Questions and answers, rated A+ What is RESPA implemented by - -Regulation X Goal of RESPA - -reforming the settlement process to ensure that consumers throughout the nation are provided with greater and more timely information on the nature of costs of the settlement proce...

Prepxl (4) 6/1/22: Exam Review Questions and answers, VERIFIED/ The administrative authority of the Commissioner includes all but which of the following? Promulgate rules or regulations implementing the S.A.F.E. Act Administer, interpret, and enforce the S.A.F.E. Act Carry out the intentions o...

PREP XL Exam Review Questions and answers, rated A+ This term refers to the practice of adjusting certain types of non-taxable income during underwriting. A.Flopping B.Inflating C.Ballparking D.Grossing up - -grossing up (Certain types of income may be grossed-up during underwriting. Underwr...

PREPXL - Mortgage Loan Origination Activities: Exam Questions and answers/ Which of the following would not be found on the promissory note? Interest rate Loan terms Borrower name Legal description - -Legal description The acronym CHARM refers to which of the following? A disclosure law r...

PREP XL (1) 6/1/22: Exam Questions and answers, VERIFIED/ a loan with a principal balance exceeding Fannie Mae or Freddie Mac guidelines? - -=is jumbo. Conventional loans that conform to the eligibility guidelines for purchase by Fannie Mae or Freddie Mac are considered conforming loans. Fann...

PrepXL Exam Review Questions & Answers, rated A+ ECOA applies to the extension of credit for: A. Loans secured by a first or subordinate lien on residential property B. Residential, business, commercial, and agricultural loans C. Business, commercial, and agricultural loans D. All credit othe...

PREP XL MISSED GAME QUESTIONS & Answers, VERIFIED/ Which of the following would not be found on the promissory note? Interest rate Loan terms Borrower name Legal description - -The answer is Legal description. The promissory note is both a promise to repay the money borrowed with interest a...

PrepxL test 8 part 1: Review Questions and answers, rated A+ Which of the following is true? - -ethical issues are the basis of both state and federal laws and can have legal consequences. When may a homeowner request that PMI be cancelled? - -as soon as his/her equity position is 20% or gre...

PREP XL Exam TEST QUESTIONS & Answers, Graded A+ the depositing of earnest money or other trust funds is based upon - -state laws. (each state determines the rules for brokerage firm trust accounts.) a broker may hold earnest money without depositing it in a trust account - -with written autho...

PREPXL I DIDNT KNOW PT 4: Exam Review Questions and answers/ A piggyback loan are commonly used to avoid? - -PMI mortgage insurance or stay under jumbo limits In regards to title insurance a standards owners policy covers? - -Undetected encumbrances Foreclosure is the sale of a property after...

Prexl Practice Test 5: Questions and answers, VERIFIED/ Marketing campaigns for the solicitation of credit are covered by the provisions of: - GLB - TILA - RESPA - ECOA - -TILA. General marketing and advertising for credit is covered by TILA. The Telemarketing Sales Rule prohibits calls: ...

Stringham Prep XL National Pearson Vue Practice Exam Questions and answers, VERIFIED/ A broker had an exclusive listing on a house. The listing price was $73,250; the commission was 8% of the selling price. The broker received an offer from a buyer for $71,500, along with a $7,000 deposit. ...

CRE Prep xL Exam Prep Questions: Ownership, Estates, and Tenancies: Questions and answers, rated A+ If A, B, and C held property in joint tenancy, and C transferred his share to X, then the property would be owned: - -One-third each by A and B as joint tenants, and one-third by X as a tenant ...