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NMLS MLO Exam Dumps Questions and Answers

Exam Code: MLO
Certification: SAFE MLO
Vendor: NMLS
Last Update: Oct 18, 2024
Questions: 120 With Expert Explanation
10  Customers Passed NMLS MLO
95%  Average Success In Real Exam
94%  Questions came word by word from this dump
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All SAFE MLO Related Certification Exams

Other NMLS Certification Exams

Mortgage Loan Origination (SAFE MLO) Exam Questions and Answers

Questions 1

During the loan application process, which of the following documents specifies the time period that a mortgage lender agrees to hold the mortgage interest rate at a certain percentage?

Options:

A.

Loan application

B.

Preapproval letter

C.

Closing Disclosure

D.

Rate lock agreement

Questions 2

Consumer complaints and the analysis of complaints play a vital role in identifying weaknesses in elements of a company's:

Options:

A.

hiring procedures and training.

B.

compliance management training and internal controls

C.

secondary marketing practices of selling loans to investors.

D.

compliance management, senior management and branch locations.

Questions 3

Which of the following acts provides a state licensing and regulatory agency to investigate and examine a mortgage company?

Options:

A.

SAFE Act

B.

Truth in Lending Act (TILA)

C.

Real Estate Settlement Procedures Act (RESPA)

D.

Home Ownership and Equity Protection Act (HOEPA)