NMLS Exam 2024 with Guaranteed Accurate Answers NMLS SAFE EXAM 2024 with Guaranteed Accurate Answers NMLS Practice Test with Guaranteed Accurate Answers NMLS SAFE EXAM 2024 with Guaranteed Accurate Answers Primary Mortgage Market - correct answer Where credit institutions originate loans C. The m...
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A discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the interest rate on the mortgage loan B.) A mortgage broker at the time of application to obtain a favorable rate C.) The seller as part of the closing costs of a loan D.) A lender to ensure against ...
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Add to cartA discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the interest rate on the mortgage loan B.) A mortgage broker at the time of application to obtain a favorable rate C.) The seller as part of the closing costs of a loan D.) A lender to ensure against ...
Blockbusting - correct answer 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: CHARM Booklet - correct answer You and the borrower believe an Adjustable Rate Mortgage would be best for t...
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Add to cartBlockbusting - correct answer 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: CHARM Booklet - correct answer You and the borrower believe an Adjustable Rate Mortgage would be best for t...
Fraud for money Laundering - correct answer -Criminal uses scheme known as value tampering -Criminal offers to buy house at reduced rate -Seller must sell at appraised value on paper, but after closing, seller give the criminal the difference in cash. Adverse Action - correct answer An unfavora...
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Add to cartFraud for money Laundering - correct answer -Criminal uses scheme known as value tampering -Criminal offers to buy house at reduced rate -Seller must sell at appraised value on paper, but after closing, seller give the criminal the difference in cash. Adverse Action - correct answer An unfavora...
Acceleration Clause - correct answer Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) - correct answer Says you must repay your mortgage if you sell your home to a new owner (loan is not as...
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Add to cartAcceleration Clause - correct answer Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) - correct answer Says you must repay your mortgage if you sell your home to a new owner (loan is not as...
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