20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW Exam With Accurate Solutions
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Course
20-HR SAFE Comprehensive Mortgage Loan Originator
Institution
20-HR SAFE Comprehensive Mortgage Loan Originator
Mortgage loan originators who make cold calls must comply with the requirements of the National Do-Not-Call rules. The loan originator needs to update any download of the registry at least every:
31 days
18 Months
7 days
Year - Correct Answer 31 Days
The appraisal approach that is used as...
20-HR SAFE Comprehensive
Mortgage Loan Originator
Fundamentals HW Exam With
Accurate Solutions
Mortgage loan originators who make cold calls must comply with the requirements of the National Do-
Not-Call rules. The loan originator needs to update any download of the registry at least every:
31 days
18 Months
7 days
Year - Correct Answer 31 Days
The appraisal approach that is used as the best indicator of value for existing properties is:
Similar property approach
Fair market value approach
Market data approach
Neighborhood value approach - Correct Answer Market data approach
The Truth in Lending Act is contained in Title I of the:
FHA (Federal Housing Administration) sellers are permitted to provide financing concession up to 6
percent of the:
, Sales price
Loan amount
FHA non-allowable closing cost
Origination charges - Correct Answer Sales price
The APR disclosure for a regular transaction the allowable tolerance of:
.250%
1%
.125%
.500% - Correct Answer .125% = 1/8
The SAFE Act requires all MLOs seeking state-licensure to pass the NMLS-developed Mortgage Loan
Originator Test with a score of:
80 or better
75 or better
70 or better
65 or better - Correct Answer 75 or better
The Consumer Financial Protection Act of 2010 establishes Consumer Financial Protection Bureau
(CFPB), as an independent entity housed within the:
Federal Housing Finance Agency
Federal Trade Commission
Federal National Mortgage Association
Federal Reserve System - Correct Answer Federal Reserve System
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