Nmls exam 1 - Study guides, Class notes & Summaries

NMLS EXAM 1 Questions with solutions 2024 1) Mortgage loan fraud is reported at what level? A. State B. Federal C. County D. City B. Mortgage Fraud is reported to the FBI and to HUD ( The United States Department of Housing and Urban Development is a Cabinet department in the executive branch of the U.S. federal government) 2) Title V of the Housing and Economic Recovery Act (HERA) of 2008 is best known as: A. The SAFE Act B. RESPA C. TILA D. CRA A. S.A.F.E --The complete na...

NMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATENMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATENMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATENMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATE 1) Mortgage loan fraud is reported at what level? A. State B. Federal C. County D. City - ANSWER-B. Mortgage Fraud is reported to the FBI and to HUD ( The United States Department of Housing and Urban Development is a Cabinet department in the executive branch of the U.S. federal government) 2) Titl...

NMLS EXAM 1 Questions with Complete Solutions 7) Which of the following agencies reviewed and approved the model state law written by CSBS and AARMR: A. HUD B. USDA C. Dept of Veterans Affairs D. OTS - Answer-A. Yes, the Department of Housing and Urban Development reviewed the legislation for definitions, education and testing requirements, financial responsibility and criminal background standards for MLOs and found it met the minimum requirements for the SAFE Act. 8) According to th...

NMLS EXAM 1: Questions and answers, VERIFIED/ 1) Mortgage loan fraud is reported at what level? A. State B. Federal C. County D. City - -B. Mortgage Fraud is reported to the FBI and to HUD ( The United States Department of Housing and Urban Development is a Cabinet department in the executive branch of the U.S. federal government) 2) Title V of the Housing and Economic Recovery Act (HERA) of 2008 is best known as: A. The SAFE Act B. RESPA C. TILA D. CRA - -A. S.A.F.E --The comple...

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NMLS EXAM 1

NMLS EXAM 1

1) Mortgage loan fraud is reported at what level? A. State B. Federal C. County D. City - Answer-B. Mortgage Fraud is reported to the FBI and to HUD ( The United States Department of Housing and Urban Development is a Cabinet department in the executive branch of the U.S. federal government) 2) Title V of the Housing and Economic Recovery Act (HERA) of 2008 is best known as: A. The SAFE Act B. RESPA C. TILA D. CRA - Answer-A. S.A.F.E --The complete name of which is the Secure and ...

NMLS EXAM 1 Questions with Complete Solutions 4) The NMLS online system was built and is maintained by which of the following organizations: A. ABA B. FFIEC C. FINRA D. FTC - Answer-C. **FINRA**Financial Industry Regulatory Authority and they operate several similar systems in the securities industry 5) All of the following are SAFE Act objectives except: A. Provide increased accountability for MLOs B. Enhance consumer protection C. Cap interest rates and fees for federally relat...