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Q 1/10
Score 0
What is a characteristic of a mortgage loan regulated by HOEPA?
120
A low cost loan
A standard fixed-rate mortgage
An illegal mortgage
A high cost, high interest loan
Q 2/10
Score 0
When must an originating mortgage broker disclose a lender rebate to a borrower?
120
At closing
At application
Prior to funding
At initial application, and at or before closing
10 questions
Q.
What is a characteristic of a mortgage loan regulated by HOEPA?
1
120 sec
Q.
When must an originating mortgage broker disclose a lender rebate to a borrower?
2
120 sec
Q.
Under TILA, advertisements shall disclose in a clear and conspicuous manner all, EXCEPT?
3
120 sec
Q.
Currently, what is the Upfront Mortgage Insurance Premium for FHA purchase money mortgages and full credit package refinance loans?
4
120 sec
Q.
An MLO continuously refuses to give a Notice of Action Taken. What's the max monetary penalty?
5
120 sec
Q.
When several individuals get together to perpetrate a mortgage fraud ring, borrower information is many times supplied by who?
6
120 sec
Q.
Which of the following are NOT exempt from licensing as a mortgage loan originator?
7
120 sec
Q.
Other than when there's a change of circumstance, why shouldn't the origination charge differ from when it is initially disclosed and when it is finally disclosed?
8
120 sec
Q.
Why is the APOR important in the mortgage industry?
9
120 sec
Q.
According to ECOA, when inquiring about a borrower’s marital status, which of the following terms may be used?
