Nmls safe exam 2 - Study guides, Class notes & Summaries
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MLO SAFE NMLS SAFE EXAM 2024 WITH 100% CORRECT ANSWERS
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MLO SAFE NMLS SAFE EXAM 2024 WITH 100% CORRECT ANSWERS 
 
 
Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - correct answer Predatory Lending. 
 
RESPA-Real Estate Settlement Procedures Act - correct answer The Federal Statute that deals with the settlement of residential mortgage loans. 
 
RESPA's section 9 Prohibits - cor...
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NMLS SAFE EXAM 2024 QUESTIONS AND ANSWERS ALREADY PASSED
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NMLS SAFE EXAM 2024 QUESTIONS 
AND ANSWERS ALREADY PASSED 
 
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 ...
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NMLS SAFE EXAM 2024 WITH 100% CORRECT ANSWERS
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Primary Mortgage Market Answer - Where credit institutions originate loans 
 
C. The maximum the rate can increase over the life of the loan Answer - When an ARM has rate caps of 5/2/6, the 6 refers to what? 
A. The maximum rate increase at the initial adjustment 
B. The start rate for the loan 
C. The maximum the rate can increase over the life of the loan 
D. The rate maximum the rate can decrease over the life of the loan 
 
B. The borrower qualified at the buydown rate Answer - When utilizi...
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NMLS SAFE EXAM 2024 WITH 100% CORRECT ANSWERS
- Exam (elaborations) • 21 pages • 2024
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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 forAnswer - 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 ...
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NMLS SAFE EXAM 2024 Questions With Verified Answers
- Exam (elaborations) • 16 pages • 2024
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NMLS SAFE EXAM 2024 Questions With 
Verified Answers 
What does TILA stand for? - answerTruth-In-Lending Act, Regulation Z 
What is a HELOC loan? - answera 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 - answerLoan to Value 
Define PMI and state what the acronym stands for. - answerPrivate mortgage insurance- on 
conventional loans 
Define one time variable funding fee and people in what situations is i...
And that's how you make extra money
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NMLS SAFE EXAM 2024 Questions With Verified Answers
- Exam (elaborations) • 16 pages • 2024
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- $12.49
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NMLS SAFE EXAM 2024 Questions With 
Verified Answers 
What does TILA stand for? - answerTruth-In-Lending Act, Regulation Z 
What is a HELOC loan? - answera 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 - answerLoan to Value 
Define PMI and state what the acronym stands for. - answerPrivate mortgage insurance- on 
conventional loans 
Define one time variable funding fee and people in what situations is i...
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NMLS SAFE EXAM 2022 WITH COMPLETE SOLUTION
- Exam (elaborations) • 15 pages • 2022
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NMLS SAFE EXAM 2022 WITH COMPLETE SOLUTION
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NMLS SAFE EXAM 2023-2024 QUESTIONS WITH SOLUTIONS
- Exam (elaborations) • 15 pages • 2024
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Available in package deal
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NMLS SAFE EXAM QUESTIONS WITH SOLUTIONS 
 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? 
Dis...
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NMLS Safe Test Mortgage Licensing Practice Exam Q's (from 2019 NMLS 20 Hour Safe Exam for Loan Originator) with Complete Solutions
- Exam (elaborations) • 29 pages • 2023
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Available in package deal
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NMLS Safe Test Mortgage Licensing Practice Exam Q's (from 2019 NMLS 20 Hour Safe Exam for Loan Originator) with Complete SolutionsNMLS Safe Test Mortgage Licensing Practice Exam Q's (from 2019 NMLS 20 Hour Safe Exam for Loan Originator) with Complete SolutionsNMLS Safe Test Mortgage Licensing Practice Exam Q's (from 2019 NMLS 20 Hour Safe Exam for Loan Originator) with Complete SolutionsWhich federal law requires that the Loan Estimate be provided to the borrower within three business days of...
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NMLS SAFE EXAM 2024 with Guaranteed Accurate Answers
- Exam (elaborations) • 86 pages • 2024
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Primary Mortgage Market - correct answer Where credit institutions originate loans 
 
C. The maximum the rate can increase over the life of the loan - correct answer When an ARM has rate caps of 5/2/6, the 6 refers to what? 
A. The maximum rate increase at the initial adjustment 
B. The start rate for the loan 
C. The maximum the rate can increase over the life of the loan 
D. The rate maximum the rate can decrease over the life of the loan 
 
B. The borrower qualified at the buydown rate - cor...
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