Nmls safe exam stuvia Study guides, Class notes & Summaries

What does TILA stand for? - ANSWER Truth-In-Lending Act, Regulation Z What is a HELOC loan? - ANSWER a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - ANSWER LTV stands for - ANSWER Loan to Value Define PMI and state what the acronym stands for. - ANSWER Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - ANSWER Disabled veterans ...

Housing & Economic Recovery Act 2008 - Title V - ANSWER Entitled the S.A.F. S.A.F.E. - ANSWER Secure and Fair Enforcement NMLS - ANSWER Nationwide Mortgage Licensing System & Registry MLO - ANSWER Mortgage Loan Originator S.A.F.E. Mortgage Licensing Act of 2008 - ANSWER Enhance consumer protection, reduce fraud by requiring ALL MLOs to be either state-licensed or federally registered. ALL states must must implement a MLO licensing process that meets certain standards through the NMLS...