Nmls exam study guide - Study guides, Class notes & Summaries

NMLS Exam Study Guide Questions and Answers Due on Demand Clause - Answer-(Considered a predatory practice) The lender can demand repayment of the loan in full at anytime for any reason HOEPA - Answer-Home Ownership and Equity Protection Act (Reg Z Sec 32) Amends TILA Nonrecourse Agreement - Answer-Loan agreement under which the collateral securing a loan is the unltimate source of repayment, and the lender cannot hold the borrower personably liable in the event of default. Lender can s...

NMLS Exam Study Guide Exam Questions and Answers Which of the following is not considered one of the six essential pieces of information constituting an application under RESPA? - Answer-Loan program According to RESPA, when would fee splitting be allowed? - Answer-If all parties render a service A borrower receives a document which contains a list of all closing costs, a disclosure of the borrower credits received on the transaction, an estimate of the cash the borrower needs to bring ...

NMLS SAFE EXAM STUDY GUIDE | Questions with 100% Correct Answers | Latest Update 2024 | Verified

NMLS SAFE EXAM STUDY GUIDE | Questions with 100% Correct Answers | Latest Update 2024 | Verified

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

NMLS Exam Study Guide 2022/2023 with complete solutions Graded A+

NMLS Exam Study Guide Questions 2022/2023 | Consisting Of 220 Questions With Verified Answers From Experts NMLS Exam Study Guide Questions 2022/2023 | Consisting Of 220 Questions With Verified Answers From Experts

NMLS Exam Study Guide: RESPA Exam Study Guide Solutions This act provides consumer protection for loans on residential properties of 1-4 units. - ANSWER- Real Estate Settlement Procedures Act (RESPA) __________ can be given in exchange for the referral of business with the exception of real estate brokerage firms that are allowed to exchange referrals between themselves. - ANSWER-Nothing of Value A __________ may include gift cards, sports tickets, advertising space, marketing material be...

NMLS Exam Study Guide Questions 2022/2023 | Consisting Of 220 Questions With Verified Answers From Experts

NMLS Exam Study Guide: RESPA Exam Questions with Correct Answers Thing of Value - Answer-A __________ may include gift cards, sports tickets, advertising space, marketing material bearing a real etate agent's information to give to his/her client, etc. True (Promotional items with the company logo are permitted to be given) - Answer-True or False: Promotional items with the company logo are permitted to be given. Regulation X - Answer-What regulation is RESPA? RESPA (Regulation X) -...