MLO 무료 덤프문제 온라인 액세스

Which of the following scenarios is permissible according to the SAFE Act?

• A.An MLO who is not licensed in a subject property's state still originates the loan under the authority of the company's license in that particular state.
• B.An underwriter who is functioning as an independent contractor conducts administrative and clerical duties while working under the supervision of a licensed MLO.
• C.A third-party underwriter conducts administrative and clerical duties while working under the supervision of a licensed MLO with their organization.
• D.An unlicensed assistant to a mortgage loan originator (MLO) conducts MLO activities under the authority of the MLO's unique identifier and licenses.

An interest-only mortgage is a mortgage with scheduled payments that require the consumer to have:

• A.Adjustable payments every month based on an adjustable interest rate.
• B.Payments of interest for a specified amount of time.
• C.Fixed payments every month, but the interest rate adjusts monthly.
• D.Monthly payments for a specified amount of time that then roll over to principal-only payments because the interest has already been paid.

Which of the following is an origination fee?

• A.Underwriting fee
• B.Appraisal fee
• C.Title insurance fee
• D.Prepaid Interest fee

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.

A second (subordinate) mortgage loan includes:

• A.conventional home purchase loan.
• B.home equity lines of credit (HELOCs;
• C.government home purchase loan.
• D.home equity conversion mortgage.