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In some states, the common law legal rights that a wife has in property owned by her husband during their marriage are best known as - dower What type of land use does NOT comply with the zoning restriction for its location, but is permitted because it benefits the public? - conditional use What is market value? - price a property is likely to bring in an arm's length transaction What is NOT a feature of an FHA-insured loan? - no MIP insurance FHA loans use a mutual mortgage insurance pla...

The primary purpose of the FACT Act is to - protect consumers from identity theft What rule within the GLB Act governs the collection and disclosure of nonpublic personal information to third parties? - Financial Privacy Rule For an electronic funds transfer, a SAR must be filed when there is a transaction aggregating _____ or more that involves potential money laundering or violations of the Bank Secrecy Act. - $5,000 According to the GLB Act, a person who completes a single transaction w...

In some states, the common law legal rights that a wife has in property owned by her husband during their marriage are best known as - dower What type of land use does NOT comply with the zoning restriction for its location, but is permitted because it benefits the public? - conditional use What is market value? - price a property is likely to bring in an arm's length transaction What is NOT a feature of an FHA-insured loan? - no MIP insurance FHA loans use a mutual mortgage insurance pla...

If a lender transfers the servicing of a mortgage, it must inform the borrower at least how many days in advance of the effective date of transfer? Answer 15 Days The primary reason to provide a borrower with a revised LE is to Answer Accommodate changed circumstances. (A revised LE may be provided if there are changed circumstances.) The agency responsible for administering the Equal Credit Opportunity Act is the Answer Consumer Financial Protection Bureau. FHA is administered by Answe...

Which can the operation of law NOT create? Answer joint tenancy What lien attaches to a property to prevent the transfer of title when there is a pending lawsuit that may affect the title? Answer attachment A couple is engaged to be married. Any real estate they own at the time the marriage takes place remains that spouse's property in severalty, and property acquired after the marriage belongs equally to both of them. This type of ownership is referred to as Answer community property ...

As defined in regulation X, which implements respa, _____ means a person (other than an employee of a lender) That renders origination services and serves as an intermediary Between and a lender in a transaction involving a federally related mortgage loan. Answer Mortgage broker The _____ Became effective June 20, 1975, what's the purpose of helping illuminate unnecessary increases in the cost of certain settlement services due to kick backs and referral fees. Answer Real estate settlement p...

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NMLS SAFE Test Compucram Questions with 100% Correct Answers | Latest Update 2024 | Verified

The loan estimate and closing disclosure must be used for most _____________mortgages? Answer Closed end Identify the statement that is TRUE about the UST section of the SAFE MLO National Test component. Answer All applicants after April 2013 will be required to take and pass the UST section of the test. A loan originator who does not include a borrower's receipt of disability income on a loan application is Answer committing an act of fraud by omission. The Home Mortgage Disclosure Ac...