Nmls test vocab - Study guides, Class notes & Summaries

NMLS Test Vocab

NMLS Test Vocab

Abusive Act - ANSWER Action that materially interfere with a consumers ability to understand the product or service Acceleration clause - ANSWER clause that gives a lender the right to declare the entire loan balance due immediately because of borrower default or for violation of other contract provisions accrued expenses - ANSWER items on a settlement statement for which the cost has been incurred, but the expense has not yet been paid acquisition cost - ANSWER the total amount needed ...

NMLS Test Vocab

Abusive Act - ANSWER Action that materially interfere with a consumers ability to understand the product or service Acceleration clause - ANSWER clause that gives a lender the right to declare the entire loan balance due immediately because of borrower default or for violation of other contract provisions accrued expenses - ANSWER items on a settlement statement for which the cost has been incurred, but the expense has not yet been paid acquisition cost - ANSWER the total amount needed ...