A subprime mortgage is - Study guides, Class notes & Summaries
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MLO - Study Material Questions and Answers | Latest Update | 2024/2025 | Already Passed
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MLO - Study Material Questions and 
Answers | Latest Update | 2024/2025 | 
 
Already Passed 
 
"Application" defined by RESPA is? The submission of a borrowers information in 
anticipation of a credit decision. 
 
"Higher-priced loans" are defined by which law. TILA 
 
A "jumbo" loan is also known as a(n) nonconforming loan - A jumbo loan is also known as a 
nonconforming loan. 
 
A borrower closed a loan last week with ABC Mortgage Company. Her name is on the National 
Do Not Call Registr...
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NMLS S.A.F.E Exam Practice Questions and Answers Fully solved 2024
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NMLS S.A.F.E Exam Practice Questions and Answers Fully solved 2024 
Enhancing protection and reducing fraud by directing states to adopt minimum uniform standards for the licensing and registration of residential mortgage loan originators was the purpose of the federal act known as the: 
 
a. S.A.F.E. Act 
b. Federal Trade Act 
c. Consumer Financial Protection Act 
d. Dodd-Frank Act 
a. S.A.F.E. Act 
 
 
 
Loan processors and underwriters may not: 
 
a. Communicate with consumers to obtain infor...
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Real Estate 87 Economics Final Exam 2023/2024 Questions and Answers Latest A+ Grade.
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Real Estate 87 Economics Final Exam 2023/2024 Questions and Answers Latest A+ Grade. 
Real Estate 87 Economics 
Question 1 
. Compared to a 30-year loan, a 15-year loan usually has: 
 
B. a lower interest rate and a larger monthly payment 
 
 
Question 2 
What federal law requires lenders to disclose information that would help detect 
instances of redlining? 
 
C. Home Mortgage Disclosure Act 
 
Question 3 
Which of these types of income is least likely to be counted as part of a loan applicant...
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CFCI Study Guide Latest Update Already Passed
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CFCI Study Guide Latest Update Already 
 
Passed 
 
Fraud "Any illegal acts characterized by deceit, concealment, or violation of trust. These acts 
are not dependent upon the perpetrated by individuals and organizations to obtain money, 
 
property, or services; to avoid payment or loss of services; or to secure personal or business ad- 
vantage." 
 
Main types of fraud Internal Fraud and External Fraud 
 
Internal Fraud which involves the employees of the company against which the fraud is 
...
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ERM Exam 3 Ch 7 Questions & Answers 2024/2025
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ERM Exam 3 Ch 7 Questions & Answers 2024/2025 
 
 
When the United States dollar appreciates against the euro, 
a)One dollar buys more euros than it had previously. 
b)Swiss banks are forced to hedge currencies to make up the difference. 
c)Imports rise because of demand for U.S. dollars. 
d)There is no effect on importing companies who use U.S. banks. - ANSWERSa)One dollar buys more euros than it had previously. 
 
On a balance sheet, what is a term for the value calculated by subtracting liabi...
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HUD Housing Counseling Exam Questions with Correct Answers
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Back-end ratio Correct Answer The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly income equals 24%. 
Calculation...
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NMLS S.A.F.E. Exam 7 Questions & Answers 2023/2024
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NMLS S.A.F.E. Exam 7 Questions & Answers 2023/2024 
 
 
Loans are purchased as investments in the: 
 
A. Secondary mortgage market 
B. Primary mortgage market 
C. Reverse mortgage market 
D. Subprime mortgage market - ANSWER-A. Secondary mortgage market 
 
The acronym "CHARM" stands for: 
 
A. Cost Handbook for Adjustable-Rate Mortgages 
B. Credit History on Adjustable-Rate Mortgages 
C. Consumer Handbook on Adjustable-Rate Mortgages 
D. Customer Highlights for Adjustable-Rate Mortgages - ANSW...
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NMLS PRACTICE QUESTIONS & ANSWERS RATED 100% CORRECT!!
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"Integration" is - depositing cahs and then using that cahs to purchase real estate folowed by 
using that real estate as collateral on a loan which is paid back with large cash payments 
"Placement" is - the process of introducing unlawful proceeds into the financial system 
a 100k loan has a 7.5% payment cap and a current monthly payment of 1k At the next adjustment 
payment could not be increased more than - 1075% bc the 7.5% cap is on the payment not the 
mortgage 
a 2/1 buydown - reduce...
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Implicit Bias III questions well answered graded A+
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Implicit Bias IIIWhat is an example of Racial Preference? - correct answer Consumer choices in neighborhoods and housing. (e.g. white flight to white avoidance) 
 
What is an example of Racial Transaction? - correct answer Discrimination in Housing Practices: rental, sale, assessment, and lending. 
 
What are Racialized Rates of Foreclosure? - correct answer 1. Lender's Targeted communities of color with subprime loans. 
2. Lack of loan information or understanding for consumers in many of thes...
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AYPO Real Estate - Real Estate Finance Final Exam Review Questions & Answers Solved 100% Correct!!
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A "COE" generally IS NOT available to - Dishonorably discharged persons 
A "COE" generally IS NOT available to: - Dishonorably discharged persons 
A "direct endorsement" lender has the authority to: - Perform underwriting of the loan on their 
own 
a $20,000 5-year loan with 5% simple interest will add how much to the loan each year - $1,000 
A contract deed is also called a: - Land Contract 
A conventional rate and term refinance generally DOES NOT offer an opportunity to: - Take out 
cas...
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