Free NMLS MLO Exam Dumps Questions & Answers

A mortgage loan originator who informs a prospective borrower that a certain loan interest rate can only be guaranteed if an application is submitted within the next 30 minutes is committing:

• A.Exaggeration
• B.Redlining
• C.Discrimination
• D.Coercion

When a mortgage loan originator notices multiple Social Security number discrepancies within the same loan file, it is considered a red flag of:

• A.pricing discrepancies.
• B.a forgetful borrower.
• C.mortgage fraud.
• D.fair lending.

How long does Regulation Z of the Truth in Lending Act (TILA) require a mortgage company to retain the Closing Disclosure for a closed mortgage loan?

• A.4 years
• B.5 years
• C.3 years
• D.2 years

Which of the following responses describes the required amount of flood insurance coverage?

• A.The minimum amount of National Flood Insurance Program coverage available
• B.The outstanding principal balance of the loan
• C.The original appraised value of the home
• D.The property value on file with the county property valuation administrator office

Which of the following must be included on all residential mortgage loan application forms?

• A.A mortgage loan originator's unique identifier
• B.The maiden name of the borrower's mother
• C.The borrower's previous five year employment history
• D.A borrower's driver's license number