Nmls safe exam 2023 - Study guides, Class notes & Summaries
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NMLS SAFE EXAM 2023-2024 Questions and Answers 100% Correct
- Exam (elaborations) • 144 pages • 2023
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NMLS SAFE EXAM Questions and Answers 100% CorrectNMLS SAFE EXAM Questions and Answers 100% CorrectNMLS SAFE EXAM Questions and Answers 100% CorrectNMLS SAFE EXAM Questions and Answers 100% Correct 
Mortgage Loan Originator - ANSWER--takes a residential mortgage loan application and offers or *negotiates rates and terms* of a residential mortgage loan *for compensation or gain* 
 
-can describe a company, branch office, an individual or a mortgage broker. 
 
Loan Origination Companies - ANSWE...
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NMLS SAFE EXAM 2023 WITH 100% CORRECT ANSWERS
- Exam (elaborations) • 85 pages • 2023
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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 - c...
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NMLS SAFE EXAM 2023-2024 QUESTIONS WITH SOLUTIONS
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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 EXAM 2023/2024 Test Exam Review Questions with all Answers verified for accuracy
- Exam (elaborations) • 29 pages • 2024
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NMLS SAFE EXAM 2023/2024 Test Exam Review Questions with all Answers verified for accuracy 
 
What is the penalty for violating GLB? - correct answer Up to 5 years and a fine 
 
What is the penalty for violating RESPA? - correct answer up to $10,000 and/or 1 year 
 
What is the penalty for sending an unauthorized fax? - correct answer $500 
 
What is the penalty for violating ECOA? - correct answer Up to $10,000 
 
What is the penalty for violating TILA? - correct answer $5K for single...
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NMLS SAFE EXAM 2023-2024 WITH COMPLETE SOLUTIONS
- Exam (elaborations) • 15 pages • 2023
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NMLS SAFE EXAM WITH COMPLETE SOLUTIONS 
 
NMLS SAFE EXAM WITH COMPLETE SOLUTIONS 
 
NMLS SAFE EXAM WITH COMPLETE SOLUTIONS 
 
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 conve...
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NMLS SAFE EXAM 2023 Questions and Answers Latest (2023 / 2024) (Verified Answers)
- Exam (elaborations) • 40 pages • 2023
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NMLS SAFE EXAM 2023 Questions and Answers Latest (2023 / 2024) (Verified Answers)
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NMLS SAFE EXAM 2023 ALREADY PASSED
- Exam (elaborations) • 22 pages • 2023
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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 surviving spouses. 
USDA loans are also called what? 50...
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NMLS SAFE EXAM 2023/2024 Post Assessment Actual Final Exam Questions with all Questions Accurately Answered
- Exam (elaborations) • 137 pages • 2024
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NMLS SAFE EXAM 2023/2024 Post Assessment Actual Final Exam Questions with all Questions Accurately Answered 
 
A Mortgage Loan Originator is - correct answer any person who for compensation places a loan within this state for others 
 
Which of the following are powers/duties of the Regulatory Authority? - correct answer Conduct examinations of licensee's books and records 
 
In order to renew your license, you must annually complete which of the minimum requirements pertaining to Continuing ...
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NMLS Safe Test Mortgage Licensing Practice Exam 2022 – 2023 Verified Questions And Answers
- Exam (elaborations) • 37 pages • 2022
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NMLS Safe Test Mortgage Licensing Practice Exam 2022 – 2023 Verified Questions And Answers
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NMLS SAFE EXAM 2023 WITH 100% CORRECT ANSWERS
- Exam (elaborations) • 85 pages • 2023
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- $16.49
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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 - c...
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