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NMLS loan officer; Test with Verified Solutions 100% Solved $11.99   Add to cart

Exam (elaborations)

NMLS loan officer; Test with Verified Solutions 100% Solved

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NMLS loan officer; Test with Verified Solutions 100% Solved

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  • September 12, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
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NMLS loan officer; Test with Verified Solutions 100%
Solved

LO & UW CORRECT ANS-An individual who performs clerical or support duties at the

direction of and subject to the supervision and instruction of a state licensing LO or registered

LO




Registered LO CORRECT ANS-Is an employee of a depository institutions( bank) registered

and maintains an NMLS does not take the UST.




Federal banking agencies CORRECT ANS-1. The Board of Governors


2. The comptroller of the currency


3. The national credit union administration


4. The federal deposit insurance corporation




State licensed LO CORRECT ANS-Not an employee of a depository institution, a subsidiary

that is owned and controlled by a depository institution and regulated by a federal agency, an

institution regulated by the farm credit admin

, NMLS loan officer; Test with Verified Solutions 100%
Solved
Uniform state test CORRECT ANS-Regulation H




Secure and a Fair Enforcement for mortgage licensing act of 2008 CORRECT ANS-Require

licensing for LO's




HERA (housing and recovery act of 2008) CORRECT ANS-Focused on Subprime lending

practices




NMLS CORRECT ANS-Nationwide mortgage licensing system and registry




State licensing agencies CORRECT ANS-Laws include Loan originator licensing

requirements, requirement for effective supervision of those who are licensed, a program for

enforcement of the law




State regulators CORRECT ANS-Effective supervision includes participating in NMLS, writing

rules and regs, conducting background checks,civil or admin records, credit history, setting

and accepting fees etc

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