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[Hardware] MLO Reliable Braindumps Pdf | MLO New Braindumps Ebook

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【Hardware】 MLO Reliable Braindumps Pdf | MLO New Braindumps Ebook

Posted at 1/10/2026 04:21:51      View：27 | Replies：2        Print      Only Author   [Copy Link] 1#
P.S. Free 2026 NMLS MLO dumps are available on Google Drive shared by VCEDumps: https://drive.google.com/open?id=1HraOceriFbdKvTJKT2-RmzdAAYKMvjAS
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NMLS Mortgage Loan Origination (SAFE MLO) Exam Sample Questions (Q146-Q151):NEW QUESTION # 146
A loan that is meant to be offered to prospective borrowers with poor credit history is generally referred to by which of the following terms?
  • A. Interest-only
  • B. Balloon
  • C. Fixed-rate
  • D. Subprime
Answer: D
Explanation:
A subprime loan is a type of loan offered to borrowers with low credit scores or other risk factors. These loans typically have higher interest rates to compensate for increased risk.
"Subprime loans are made to borrowers who have poor or limited credit histories and pose a higher risk of default."
- SAFE MLO National Test Study Guide
References:
CFPB, Subprime Mortgage Definition

NEW QUESTION # 147
A borrower has told the mortgage loan originator that they had recently paid off an account that was listed on their credit report. Which of the following information will they need to provide the lender to prove the account has been paid off?
  • A. Oral confirmation from the borrower
  • B. No additional information required
  • C. An updated statement showing a zero balance
  • D. A letter from the borrower explaining that they paid it off
Answer: C
Explanation:
To prove that an account listed on a credit report has been paid off, the borrower must provide an updated statement showing a zero balance. This is the most direct and verifiable method for a lender to confirm the account has been settled.
* Oral confirmation (A) or a letter from the borrower (C) are not acceptable documentation, as they lack third-party verification.
* No further documentation would be required if the credit report already reflects the zero balance, but until then, updated documentation is necessary.
References:
* Fair Credit Reporting Act (FCRA)
* Standard mortgage underwriting documentation guidelines

NEW QUESTION # 148
According to the Truth in Lending Act (TILA), a dwelling includes which of the following?
  • A. A six-unit apartment complex
  • B. An individual condominium unit
  • C. A timeshare
  • D. An unimproved lot
Answer: B
Explanation:
Under the Truth in Lending Act (TILA), a dwelling is defined as any residential structure that includes one to four units, such as an individual condominium unit, single-family home, or townhouse. This definition also includes mobile homes or manufactured homes, as long as they are used as residences.
* Unimproved lots (A) are not considered dwellings because they lack a residential structure.
* A six-unit apartment complex (B) exceeds the limit of four units for a dwelling under TILA.
* Timeshares (D) are typically considered non-residential and do not meet the TILA definition of a dwelling.
References:
* Truth in Lending Act (TILA), 12 CFR §1026.2(a)(19)
* CFPB Guidelines on TILA's definition of a dwelling

NEW QUESTION # 149
A lender will require private mortgage insurance for first lien loans with loan-to-value over what percentage?
  • A. 80%
  • B. 75%
  • C. 70%
  • D. 78%
Answer: A
Explanation:
Private mortgage insurance (PMI) is typically required for conventional first-lien loans when the loan-to- value (LTV) ratio exceeds 80%. That is, when the borrower puts down less than 20% as a down payment.
"PMI is required by lenders on conventional loans with a loan-to-value ratio greater than 80 percent."
- Homeowners Protection Act of 1998; CFPB PMI Guidance
References:
CFPB, When can I remove PMI?

NEW QUESTION # 150
When obtaining a mortgage loan, title insurance is required to protect the:
  • A. mortgage loan officer.
  • B. lender providing the financing.
  • C. seller of the property.
  • D. settlement agent.
Answer: B
Explanation:
When obtaining a mortgage loan, title insurance is typically required to protect the lender. The lender's title insurance policy ensures that the lender has a valid lien on the property and protects against potential claims on the title, such as unpaid property taxes, liens, or ownership disputes.
* While owner's title insurance protects the buyer, the lender's title insurance is required to protect the financial interest of the lender.
References:
* TILA-RESPA Integrated Disclosure (TRID) Rule
* ALTA Title Insurance Guidelines

NEW QUESTION # 151
......
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Posted at 4 day before        Only Author  2#
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Posted at 4 day before        Only Author  3#
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