Evan Ward Evan Ward's Profile Page

Evan Ward Evan Ward

0 Course Enrolled • 0 Course Completed

Biography

Efficient MLO Test Simulator Free–Pass MLO First Attempt

Our MLO training materials are famous for the instant download. If you buy from us, you can get the downloading link and password for the MLO exam dumps within ten minutes after purchasing. In this way, you can just start your learning immediately. What’s more, we have online and offline chat service stuff, if you have any questions about the MLO training dumps, you can ask help from us, and we will give you reply as quickly as possible. We also offer free update for one year if you buy MLO exam dumps from us.

Because these Mortgage Loan Origination (SAFE MLO) Exam MLO exam dumps are designed by experts after in-depth research about the certification exam content. The Mortgage Loan Origination (SAFE MLO) Exam exam product is made of 100% real NMLS MLO Exam Questions verified by NMLS professionals. The Mortgage Loan Origination (SAFE MLO) Exam MLO Valid Dumps of TestKingFree are exceptionally curated and approved by experts. We have hired professionals who after in-depth research add the most important and real test questions in three formats of our MLO exam practice material.

>> MLO Test Simulator Free <<

MLO Exam Success, MLO Exam Quick Prep

We are a group of IT experts and certified trainers who write NMLS vce dumps based on the real questions. Besides, our MLO exam dumps are always checked to update to ensure the process of preparation smoothly. You can try our MLO Free Download study materials before you purchase. Please feel free to contact us if you have any questions about the MLO pass guide.

NMLS Mortgage Loan Origination (SAFE MLO) Exam Sample Questions (Q105-Q110):

NEW QUESTION # 105
The Equal Credit Opportunity Act (ECOA) defines the term "elderly" as anyone:

A. 65 years of age or older.
B. 62 years of age or older.
C. 70 years of age or older.
D. 60 years of age or older.

Answer: B

Explanation:
Under the Equal Credit Opportunity Act (ECOA), the term "elderly" is defined as anyone who is 62 years of age or older. This designation is significant in fair lending, as the ECOA prohibits discrimination based on age in any aspect of a credit transaction, including mortgage lending.
* ECOA protects borrowers from being denied credit or offered unfavorable terms based solely on their age, and it provides additional protections to borrowers considered "elderly." References:
* Equal Credit Opportunity Act (ECOA), 15 U.S.C. § 1691(a)
* CFPB Regulation B, 12 CFR Part 1002

NEW QUESTION # 106
Which of the following entities is the primary regulatory authority for state-licensed, non-depository lenders?

A. NMLS
B. A state regulator
C. The Federal Trade Commission
D. The Conference of State Bank Supervisors

Answer: B

Explanation:
For state-licensed, non-depository lenders, the primary regulatory authority is the state regulator in the jurisdiction where the lender operates. Each state has its own agency or department responsible for overseeing licensing, compliance, and enforcement of mortgage laws for non-depository institutions.
* The NMLS (A) is the system used to manage licenses but is not a regulatory authority.
* The Federal Trade Commission (B) oversees federal consumer protection laws but is not the primary regulator for state-licensed lenders.
* The Conference of State Bank Supervisors (CSBS) (D) helps coordinate state regulation but does not directly regulate individual lenders.
References:
* SAFE Act, 12 USC §5101
* NMLS and State Regulator Guidelines

NEW QUESTION # 107
Which of the following responses describes servicing transfers?

A. The transfer of the responsibility to collect payments on the loan from one lender to another
B. The transfer of an appraisal from one lender to another
C. The transfer of the processing of a loan to an independent service provider such as a contract processing provider
D. The transfer of a HUD case number from one lender to another

Answer: A

Explanation:
A servicing transfer is when the responsibility for collecting payments, managing escrow accounts, and handling other aspects of loan servicing is moved from one lender or servicer to another. This is regulated by RESPA, which requires timely notification to borrowers.
"A servicing transfer is the transfer of the right to collect payments and service a mortgage loan from one servicer to another."
- CFPB, RESPA Servicing Transfer Disclosures
References:
CFPB, Mortgage Servicing Transfers
SAFE MLO National Test Study Guide

NEW QUESTION # 108
An individual who is a loan processor or underwriter must maintain a state originator license if they:

A. perform clerical duties for a mortgage lender as a supervised employee
B. are an independent contractor and collect, receive or distribute information in connection with making a credit decision.
C. are an employee of a loan processing or underwriting company that supports a mortgage broker/lender and only perform supervised clerical duties.
D. are not in communication with the consumer to obtain mortgage loan information.

Answer: B

Explanation:
An individual who is an independent contractor and performs loan processing or underwriting activities must maintain a state originator license if they collect, receive, or distribute information in connection with making a credit decision. This is because independent contractors are not considered supervised employees, and their work directly impacts the loan approval process.
* In contrast, employees of a mortgage lender who perform clerical duties (A) under supervision do not need a state license, nor do those who do not interact with consumers (B).
References:
* SAFE Act, 12 USC §5101
* NMLS Licensing Guidelines for loan processors and underwriters

NEW QUESTION # 109
Which of the following fees is a finance charge?

A. A notary fee
B. An origination fee
C. An appraisal fee
D. A late payment fee

Answer: B

Explanation:
An origination fee is considered a finance charge under TILA because it represents the cost of obtaining credit. A finance charge includes all fees that a borrower must pay as a condition of securing a loan, excluding certain exempt fees like notary or appraisal fees.
* Notary fees (A) and appraisal fees (C) are typically excluded from the finance charge calculation.
* Late payment fees (D) are not considered finance charges; they are penalties for delinquent payments.
References:
* Truth in Lending Act (TILA), 12 CFR §1026.4 (Regulation Z)
* CFPB Finance Charge Definitions

NEW QUESTION # 110
......

We will provide you with three different versions of our MLO exam questions on our test platform. You have the opportunity to download the three different versions from our test platform. The three different versions of our MLO Test Torrent include the PDF version, the software version and the online version. The three different versions will offer you same questions and answers, but they have different functions.

MLO Exam Success: https://www.testkingfree.com/NMLS/MLO-practice-exam-dumps.html

Once there emerge a sign of updating, we will update our MLO exam pass-sure files and inform you of the latest version immediately, NMLS MLO Test Simulator Free When you deal with the exam in reality, you will feel familiar, NMLS MLO Test Simulator Free So even if you fail, your money will be back at last, Maybe our MLO learning quiz is suitable for you.

Likewise, a well-functioning Agile team is also complex, not chaotic, MLO When coaxial cable is used for the bus, a terminator resistor) must be installed at each end to eliminate reflections.

Top MLO Test Simulator Free 100% Pass | Professional MLO: Mortgage Loan Origination (SAFE MLO) Exam 100% Pass

Once there emerge a sign of updating, we will update our MLO Exam pass-sure files and inform you of the latest version immediately, When you deal with the exam in reality, you will feel familiar.

So even if you fail, your money will be back at last, Maybe our MLO learning quiz is suitable for you, Any of the three versions can work in an offline state, and the version makes it possible that the websites is available offline.