8/8/25, 9:26 AM NMLS MLO Exam 2025 EXAM QUESTIONS | 100% Verified Solutions | Already passed!! Flashcards | Quizlet
NMLS MLO Exam 2025 EXAM QUESTIONS | 100%
Verified Solutions | Already passed!!
Save
Terms in this set (218)
What must a borrower do Pay within 30 days of due date
to avoid having late
payments reported to a
credit bureau?
Max penalty if a borrower 3 times the fee
is required to use a
specific title company or
settlement agent?
What should not be over- Credit scores
weighted in an analysis of
borrower repayment
capacity?
Max prepayment penalty 3%
on residential mortgages
in the first year of the loan
What must condominium Keep a "blanket" policy that protects the entire
associations do with structure
respect to property
insurance?
https://quizlet.com/1064560729/nmls-mlo-exam-2025-exam-questions-100-verified-solutions-already-passed-flash-cards/?new 1/28
,8/8/25, 9:26 AM NMLS MLO Exam 2025 EXAM QUESTIONS | 100% Verified Solutions | Already passed!! Flashcards | Quizlet
If a lender is planning on Before the referral to the title company is made
referring a borrower to a
title company that the
lender has ownership in,
when must the AFBA must
be provided to the
borrower?
Website to obtain copy of annualcreditreport.com
your credit report that the
credit bureaus are
required to provide once
per year at no charge
ARM initial adjustment max is 2%, subsequent
2/3/6 caps
adjustment period max is 3%, and lifetime cap of 6%
What does FHLB stand for Federal Home Loan Bank, and they provide advances
and what do they to financial institutions for residential mortgage loans
provide?
According to the Dodd- 5%
Frank Act, how much risk
must be retained by the
securitizer for a loan that
does not meet QRM
guidelines?
On a purchase transaction, Sales Contract
what document contains
the purchase price for a
property?
https://quizlet.com/1064560729/nmls-mlo-exam-2025-exam-questions-100-verified-solutions-already-passed-flash-cards/?new 2/28
, 8/8/25, 9:26 AM NMLS MLO Exam 2025 EXAM QUESTIONS | 100% Verified Solutions | Already passed!! Flashcards | Quizlet
After a loan has been 60 days after closing
closed and funded, the
creditor notices a
tolerance violation with a
fee between the LE and
CD. How long does the
creditor have to reimburse
the borrower for the
overcharge before being
considered in violation of
the TRID rule?
According to the Dodd- 5%
Frank Act, how much risk
must be retained by the
securitizer for a loan that
does not meet QRM
guidelines?
Refusing service to anyone of a certain race, ethnicity,
Overt Discrimination
etc.
Under ECOA can you ask No
how many children a
borrower has?
What document specifies Mortgage
that a property is being
used as security in the
event of nonpayment of a
debt?
On the LE, which piece of TIP (Total Interest Percentage)
data tells applicants how
much they will be paying
in interest over the life of
the loan as a percentage
of the loan?
https://quizlet.com/1064560729/nmls-mlo-exam-2025-exam-questions-100-verified-solutions-already-passed-flash-cards/?new 3/28
NMLS MLO Exam 2025 EXAM QUESTIONS | 100%
Verified Solutions | Already passed!!
Save
Terms in this set (218)
What must a borrower do Pay within 30 days of due date
to avoid having late
payments reported to a
credit bureau?
Max penalty if a borrower 3 times the fee
is required to use a
specific title company or
settlement agent?
What should not be over- Credit scores
weighted in an analysis of
borrower repayment
capacity?
Max prepayment penalty 3%
on residential mortgages
in the first year of the loan
What must condominium Keep a "blanket" policy that protects the entire
associations do with structure
respect to property
insurance?
https://quizlet.com/1064560729/nmls-mlo-exam-2025-exam-questions-100-verified-solutions-already-passed-flash-cards/?new 1/28
,8/8/25, 9:26 AM NMLS MLO Exam 2025 EXAM QUESTIONS | 100% Verified Solutions | Already passed!! Flashcards | Quizlet
If a lender is planning on Before the referral to the title company is made
referring a borrower to a
title company that the
lender has ownership in,
when must the AFBA must
be provided to the
borrower?
Website to obtain copy of annualcreditreport.com
your credit report that the
credit bureaus are
required to provide once
per year at no charge
ARM initial adjustment max is 2%, subsequent
2/3/6 caps
adjustment period max is 3%, and lifetime cap of 6%
What does FHLB stand for Federal Home Loan Bank, and they provide advances
and what do they to financial institutions for residential mortgage loans
provide?
According to the Dodd- 5%
Frank Act, how much risk
must be retained by the
securitizer for a loan that
does not meet QRM
guidelines?
On a purchase transaction, Sales Contract
what document contains
the purchase price for a
property?
https://quizlet.com/1064560729/nmls-mlo-exam-2025-exam-questions-100-verified-solutions-already-passed-flash-cards/?new 2/28
, 8/8/25, 9:26 AM NMLS MLO Exam 2025 EXAM QUESTIONS | 100% Verified Solutions | Already passed!! Flashcards | Quizlet
After a loan has been 60 days after closing
closed and funded, the
creditor notices a
tolerance violation with a
fee between the LE and
CD. How long does the
creditor have to reimburse
the borrower for the
overcharge before being
considered in violation of
the TRID rule?
According to the Dodd- 5%
Frank Act, how much risk
must be retained by the
securitizer for a loan that
does not meet QRM
guidelines?
Refusing service to anyone of a certain race, ethnicity,
Overt Discrimination
etc.
Under ECOA can you ask No
how many children a
borrower has?
What document specifies Mortgage
that a property is being
used as security in the
event of nonpayment of a
debt?
On the LE, which piece of TIP (Total Interest Percentage)
data tells applicants how
much they will be paying
in interest over the life of
the loan as a percentage
of the loan?
https://quizlet.com/1064560729/nmls-mlo-exam-2025-exam-questions-100-verified-solutions-already-passed-flash-cards/?new 3/28
