NMLS Safe Mortgage Licensing

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NMLS Safe Test Mortgage Licensing Practice Exam Q's /A’s

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Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - Answer - TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - Answer - Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-occupied, residential refinance? - Answer - After 3 business-day rescission ...

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• 38 pages's •
by Greaterheights •
uploaded 2022

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NMLS Safe Mortgage Licensing • NMLS Safe Mortgage Licensing