Open the auxiliary access

Firefly Open Source Community

   Login   |   Register   |
New_Topic
Firefly Open Source Community › Embedded Computer › EC-A3399ProC› Are you ready to prove your technical knowledge and ...
New Topic
Print Previous Topic Next Topic

[General] Are you ready to prove your technical knowledge and expertise with the NMLS MLO

billfox831

134

Credits

0

Prestige

0

Contribution

registered members

Rank: 2

Credits
134

【General】 Are you ready to prove your technical knowledge and expertise with the NMLS MLO

Posted at yesterday 12:00      View：2 | Replies：0        Print      Only Author   [Copy Link] 1#
P.S. Free & New MLO dumps are available on Google Drive shared by ITdumpsfree: https://drive.google.com/open?id=1DfuRPuSrpeTzruTPb_TQ7t5QYuyKw_5L
We always put our customers in the first place. Thus we offer discounts from time to time, and you can get 50% discount at the second time you buy our MLO question dumps after a year. Lower price with higher quality, that’s the reason why you should choose our MLO Prep Guide. All in all, our test-orientated high-quality MLO exam questions would be the best choice for you, we sincerely hope all of our candidates can pass MLO exam, and enjoy the tremendous benefits of our MLO prep guide.
NMLS MLO exam include all the important concepts leaving behind the stories to tell for some other time. For the complete and quick NMLS MLO preparation the NMLS MLO Exam Questions are the best study material. With NMLS MLO Exam Practice test questions you can ace your NMLS MLO exam preparation simply and quickly to pass the final MLO exam easily.
Pass Your NMLS MLO Exam with Excellent MLO Valid Test Practice CertainlyIt would take a lot of serious effort to pass the Mortgage Loan Origination (SAFE MLO) Exam (MLO) exam, therefore it wouldn't be simple. So, you have to prepare yourself for this. But since we are here to assist you, you need not worry about how you will study for the Mortgage Loan Origination (SAFE MLO) Exam (MLO) exam dumps. You can get help from us on how to get ready for the Mortgage Loan Origination (SAFE MLO) Exam (MLO) exam questions. We will accomplish this objective by giving you access to some excellent MLO practice test material that will enable you to get ready for the Mortgage Loan Origination (SAFE MLO) Exam (MLO) exam dumps.
NMLS Mortgage Loan Origination (SAFE MLO) Exam Sample Questions (Q52-Q57):NEW QUESTION # 52
Which of the following loan types may be considered a qualified loan under ability-to-pay rules
  • A. A loan with negative amortization
  • B. An interest-only mortgage
  • C. A mortgage with an adjustable rate
  • D. A loan with a balloon payment
Answer: C
Explanation:
Under the Ability-to-Repay (ATR) Rule and Qualified Mortgage (QM) standards, mortgages with adjustable rates can be considered qualified mortgages if they meet certain criteria, such as having fully amortizing payments and adhering to limits on points and fees. Adjustable-rate mortgages (ARMs) are qualified as long as the borrower's ability to repay is assessed using the maximum rate that could apply in the first five years.
* Loans like interest-only mortgages (A), balloon payment loans (B), and negative amortization loans (C) are not typically considered qualified mortgages because they carry higher risks of default.
References:
* CFPB Ability-to-Repay and Qualified Mortgage Rule
* Dodd-Frank Act standards for Qualified Mortgages

NEW QUESTION # 53
A mortgage loan originator paying compensation to a real estate agent for client referrals is:
  • A. Permissible if the compensation is limited to meals or other noncash gifts.
  • B. Permissible if the compensation is limited to payment for the real estate agent's related business expenses.
  • C. Considered an illegal kickback prohibited by the Real Estate Settlement Procedures Act (RESPA).
  • D. Prohibited unless the client is notified and consents to the payment.
Answer: C
Explanation:
Section 8(a) of the Real Estate Settlement Procedures Act (RESPA) strictly prohibits giving or accepting any fee, kickback, or thing of value in exchange for the referral of settlement service business related to a federally related mortgage loan.
"No person shall give and no person shall accept any fee, kickback or thing of value pursuant to any agreement or understanding, oral or otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be referred to any person."
- 12 U.S.C. § 2607(a); 12 CFR § 1024.14(b), Regulation X
This means it is illegal for a mortgage loan originator (MLO) to pay a real estate agent for referring clients, regardless of client notification, consent, or limitation to business expenses. Minor items of minimal value (e.
g., pens, promotional items) may be allowed if not given in exchange for referrals, but any compensation for referrals is a prohibited kickback.
References:
CFPB, RESPA Section 8 Kickbacks and Referral Fees
SAFE MLO National Test Study Guide

NEW QUESTION # 54
Which of the following statements describes an advantage of a purchase money second mortgage?
  • A. The borrower's loan closes faster than a regular mortgage.
  • B. The borrower pays two mortgage payments.
  • C. The borrower avoids paying private mortgage insurance
  • D. The borrower avoids paying into the escrow account.
Answer: C
Explanation:
A purchase money second mortgage allows a borrower to avoid paying private mortgage insurance (PMI) by using a second loan to cover part of the down payment. This structure, often referred to as a "piggyback loan", is commonly used when a borrower does not have a 20% down payment but wants to avoid PMI, which is typically required for loans with less than 20% down.
* The borrower makes payments on both the primary mortgage and the second mortgage, but by keeping the loan-to-value (LTV) on the first mortgage below 80%, they can avoid PMI.
References:
* Fannie Mae Selling Guide on purchase money mortgages
* Freddie Mac Guidelines on private mortgage insurance

NEW QUESTION # 55
The SAFE Act prohibits individuals from engaging in the business of a residential mortgage loan originator without first obtaining a:
  • A. high school diploma.
  • B. originator counseling certificate.
  • C. unique identifier
  • D. compliance plan.
Answer: C
Explanation:
The SAFE Act (Secure and Fair Enforcement for Mortgage Licensing Act) requires all mortgage loan originators (MLOs) to obtain a unique identifier through the Nationwide Multistate Licensing System (NMLS) before engaging in the business of residential mortgage loan origination. This identifier is used to track MLOs across state lines and ensure accountability and transparency in the mortgage industry.
* A compliance plan (B) or other qualifications like a high school diploma (C) or counseling certificate (D) are not specific SAFE Act requirements for engaging in mortgage origination.
References:
* SAFE Act, 12 USC §5101
* NMLS Licensing Requirements

NEW QUESTION # 56
A 7.25% interest-only loan has an initial balance of $239,500.00. The annual homeowner's insurance premium is $551.00, and the annual property taxes are $1,773.00. What is the total monthly payment, including the escrow?
  • A. $1,701.29
  • B. $1,584.65
  • C. $1,640.65
  • D. $1,446.98
Answer: B
Explanation:
First, calculate the monthly interest-only payment:
Loan Amount: $239,500
Interest Rate: 7.25% annual
Monthly Interest: $239,500 × 0.0725 ÷ 12 = $1,447.29
Add escrow for taxes and insurance:
Annual Insurance: $551 ÷ 12 = $45.92
Annual Taxes: $1,773 ÷ 12 = $147.75
Total escrow per month: $45.92 + $147.75 = $193.67
Total monthly payment:
$1,447.29 (interest-only) + $193.67 (escrow) = $1,640.96
Closest answer: C. $1,640.65
The slight difference is likely due to rounding, but C is the best match.
References:
Standard mortgage calculations (see any finance calculator)
SAFE MLO National Test Study Guide

NEW QUESTION # 57
......
MLO exam preparation also provide you a deep insight knowledge about the NMLS MLO exam topics. This knowledge will help you in NMLS MLO exam success and career. The NMLS MLO Exam Questions require some of your attention. You may use our NMLS MLO exam dumps to help you get ready for the real NMLS MLO exam.
MLO Practice Questions: https://www.itdumpsfree.com/MLO-exam-passed.html
ITdumpsfree NMLS MLO exam dumps are updated and all exam questions answers are verified by Mortgage Loan Origination (SAFE MLO) Exam experts, NMLS MLO Valid Test Practice No other vendors can challenge our data in this market, If you should become one of the beneficiaries of our MLO practice test questions in the near future, please kindly give us your favorable comments, and please feel free to introduce our MLO exam dumps to your friends and colleagues, NMLS MLO Valid Test Practice You send the failure score certification to our support email.
How much of it is something that we need to worry about, and who should do the worrying, All those beneficial outcomes come from your decision of our MLO simulating questions.
ITdumpsfree NMLS MLO Exam Dumps are updated and all exam questions answers are verified by Mortgage Loan Origination (SAFE MLO) Exam experts, No other vendors can challenge our data in this market.
Free PDF Quiz 2026 MLO: Mortgage Loan Origination (SAFE MLO) Exam – Valid Valid Test PracticeIf you should become one of the beneficiaries of our MLO practice test questions in the near future, please kindly give us your favorable comments, and please feel free to introduce our MLO exam dumps to your friends and colleagues.
You send the failure score certification to our support email, You may suspicious about our MLO exam braindumps: Mortgage Loan Origination (SAFE MLO) Exam, actually, we have get social recognition around MLO the world in this kind of area, and trying to make it better beyond the average.
2026 Latest ITdumpsfree MLO PDF Dumps and MLO Exam Engine Free Share: https://drive.google.com/open?id=1DfuRPuSrpeTzruTPb_TQ7t5QYuyKw_5L
https://www.prepawayexam.com
Reply

Use props Report

Return to List
High mode
B Color Image Link Quote Code Smilies
You need to log in before you can reply Login | Register

This forum Credits Rules

  •  

Service Hotline : (+86)18688117175
Contact us
E-mail : global@t-firefly.com
Copyright © 2014-2022, FIREFLY TECHNOLOGY CO.,LTD. All Rightts Reserved. 粤ICP备14022046号-2
Quick Reply Back to top Back to list