A aborrower's afile arequires aa aVOD, ahowever acurrently, athe aborrower ahas ano amoney abut
ais aexpecting aan ainheritance acheck.
What acan athe aMLO ado?
Answers
A. aThe aMLO amay arequest athe aVOD atakes aplace aafter athe afunds aare adeposited a
B. aRequest athe aborrower ato atake aout aa apay aday aadvance aloan, aput ait ain ahis aaccount,
aand arepay ait aonce athe averification ais adone
C. aThe aMLO amay aloan athe aborrower amoney aand atake ait aback aafter athe aVOD ais
acomplete a- acorrect aanswer.A.
A aforeclosure aconsultant amay anot acharge aa afee ain awhich aexceeds a___ apercent aper
aannum aof aa aloan awhich athe aconsultant amakes ato athe aowner.
Answers
A. a10%
B. a20% a
C. a3% a
D. a5% a- acorrect aanswer.A.
A alate acharge amay abe aimposed afor alate apayment aof aan ainstallment adue aon aa amortgage
aloan aor adeed aof atrust abut acannot aexceed agreater athan a$5 aor a___ apercent aof athe
ainstallment adue.
Answers
A. aOne a(1) apercent a
B. aThree a(3) apercent a
C. aFive a(5) apercent a
D. aTen a(10) apercent a- acorrect aanswer.C.
A amortgage abroker's afiduciary aduty ato aa aclient ainvolves awhich aof athe afollowing?
Answers
A. aA aduty aof aexclusivity a
, B. aFull adisclosure ato athe aclient, aeven aat athe aexpense aof aanother aclient a
C. aPutting athe aclient's aeconomic ainterest aahead aof athe abroker's aown a
D. aSecuring athe abest aloan awhich athe aclient acould ahope ato afind a- acorrect aanswer.C.
A amortgage acompany aadvertises afor aloans ain aboth aSpanish aand aEnglish. aWhich aof athe
afollowing astatements ais atrue?
Answers
A. aThe amortgage acompany amust aprovide athe akey adisclosures asuch aas athe aTIL aand
aGood aFaith aEstimate ain aSpanish ato atheir aSpanish aspeaking
clients.
B. aAt aleast a40% aof athe aemployees aof athe acompany amust abe abilingual. a
D. aThe aactual aloan adocuments a(note, amortgage, adeed, aetc.) amust abe aprovided ain
aSpanish. a- acorrect aanswer.A.
A amortgage aloan aoriginator amust apass athe alicensing atest ain aorder ato aobtain aa anew
alicense aif ahe ahas afailed ato amaintain aa alicense aover ahow amany ayears?
Answers
A. aFive a(5) ayears a
B. aSeven a(7) ayears a
C. aTen a(10) ayears a
D. aMLOs ado anot aever ahave ato aretake athe alicensing atest a- acorrect aanswer.A.
A amortgagee amust aexecute aa acertificate aof athe adischarge aof aa amortgage aand arecord ait
ain athe acounty ain awhich athe amortgage ais arecorded awithin ahow amany adays aafter athe
amortgage ahas abeen asatisfied?
Answers
A. aThirty a(30) adays a
B. aSixty a(60) adays a
C. aNinety a(90) adays a
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller RANKGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.