Once you enter into our interface, nothing will disturb your learning the MLO training engine except the questions and answers. So all you attention will be concentrated on study. At the same time, each process is easy for you to understand. There will have small buttons on the MLO Exam simulation to help you switch between the different pages. It does not matter whether you can operate the computers well. Our MLO training engine will never make you confused.
If you are clueless about the oncoming exam, our MLO guide materials are trustworthy materials for your information. More than tens of thousands of exam candidate coincide to choose our MLOpractice materials and passed their exam with satisfied scores, a lot of them even got full marks. According to the data that are proved and tested by our loyal customers, the pass rate of our MLO Exam Questions is high as 98% to 100%.
If you still have a trace of enterprise, you really want to start working hard! MLO exam questions are the most effective helpers on your path. By using MLO study engine, your abilities will improve and your mindset will change. Who does not want to be a positive person? This is all supported by strength! In any case, a lot of people have improved their strength through MLO Exam simulating. They now have the opportunity they want. Whether to join the camp of the successful ones, purchase MLO study engine, you decide for yourself!
NEW QUESTION # 64
Which of the following items is a liquid asset?
Answer: D
Explanation:
Publicly traded stocks are considered liquid assets because they can be easily converted to cash through a sale in a public stock market. Liquid assets are those that can be quickly sold or accessed with minimal loss of value.
* Antique jewelry (A), net worth of a business (C), and an automobile (D) are not considered liquid assets because they are harder to convert into cash quickly without losing value.
References:
* Fannie Mae and Freddie Mac guidelines on liquid assets
* CFPB Mortgage Qualifying Standards
NEW QUESTION # 65
What is the minimum amount of flood insurance a lender must require on a residential building located in a special flood hazard area?
Answer: B
Explanation:
The minimum amount of flood insurance required by lenders for a residential building located in a Special Flood Hazard Area (SFHA) is the lesser of:
* 100% of the replacement cost of the structure, or
* The maximum available under the National Flood Insurance Program (NFIP), which is $250,000 for residential property structures.
This requirement ensures that the property is adequately covered in case of flood damage.
References:
* National Flood Insurance Program (NFIP) Guidelines
* Flood Disaster Protection Act (FDPA)
NEW QUESTION # 66
Loan applications must include all of the following information with respect to mortgage loan originators (MLOs) except the:
Answer: C
Explanation:
Regulation Z (TILA) requires that a loan application and all related disclosures identify the mortgage loan originator's name, NMLS unique identifier, and the employer's (company) NMLS unique identifier. There is no regulatory requirement for a return fax number to be included on the loan application.
"For any loan application, the creditor must ensure that the loan originator's name and Nationwide Mortgage Licensing System and Registry (NMLS) unique identifier, and the name and NMLS unique identifier of the loan originator's employer are included on the loan application, the note, and the security instrument."
- 12 CFR § 1026.36(g)(1), Regulation Z, TILA
A return fax number is not required by federal mortgage regulations.
References:
CFPB, Loan Originator Identifier Requirements
SAFE MLO National Test Study Guide
NEW QUESTION # 67
A borrower visits a mortgage loan originator (MLO) for Mortgage ABC to discuss getting a home equity line of credit (HELOC) loan from Bank LMN. The MLO encourages the borrower to apply with Bank XYZ instead because ABC does not provide HELOC loans. When the borrower submits an application directly to XYZ, XYZ pays the MLO $100 from the 1% origination fee that it collected from the borrower. Is this fee permissible?
Answer: A
Explanation:
The Real Estate Settlement Procedures Act (RESPA) prohibits payment of fees or kickbacks to any party unless that party performs actual, legitimate services related to the origination or processing of a loan. In this case, the MLO did not perform any actual origination services for the borrower, so the fee paid by Bank XYZ to the MLO is not permitted.
* RESPA Section 8 prohibits referral fees or any unearned fees. The MLO did not originate the loan or perform any substantive services related to the HELOC, which makes the payment illegal.
References:
* RESPA (Real Estate Settlement Procedures Act), Section 8
* CFPB RESPA Guidelines on fee splitting and kickbacks
NEW QUESTION # 68
Which of the following is an origination fee?
Answer: A
Explanation:
An underwriting fee is considered an origination fee because it is a charge for the lender's services in processing and evaluating the mortgage application. Origination fees include any fees associated with creating and underwriting the loan.
* Appraisal fees (A), title insurance fees (C), and prepaid interest fees (D) are not considered origination fees; they are separate charges related to third-party services or pre-paid interest.
References:
* TILA-RESPA Integrated Disclosure Rule (TRID)
* CFPB Mortgage Origination Fee Guidelines
NEW QUESTION # 69
......
The MLO authorized training exams provided by Actualtests4sure helps you to clear about your strengths and weaknesses before you take the exam. You can get exam scores after each practice test with MLO test engine, which allow you to self-check your knowledge of the key topical concepts. The frequently updated of MLO Latest Torrent can ensure you get the newest and latest study material. You will build confidence to make your actual test a little bit easier with MLO practice vce.
Reliable MLO Exam Test: https://www.actualtests4sure.com/MLO-test-questions.html
To sum up, MLO study material really does good to help you pass real exam, Among them, NMLS MLO certification test is the most important exam, NMLS Exam MLO Simulator Fee Please email us and tell us the exact exam codes you are willing to buy, Once you own the certification under the help of our MLO exam cram you can get a good job in many countries as you like, All the tools of Actualtests4sure Reliable MLO Exam Tests can deal with your exam related requirements in the best manner.
Our NMLS Mortgage Loan Origination (SAFE MLO) Exam latest test questions Reliable MLO Exam Test are your first choice, One of the first steps to importing, especially with tapeless media, is to make a camera archive Exam MLO Blueprint to quickly offload the card and create a copy of it for archiving purposes.
To sum up, MLO Study Material really does good to help you pass real exam, Among them, NMLS MLO certification test is the most important exam.
Please email us and tell us the exact exam codes you are willing to buy, Once you own the certification under the help of our MLO exam cram you can get a good job in many countries as you like.
All the tools of Actualtests4sures can MLO deal with your exam related requirements in the best manner.