Mortgage Loan Origination (SAFE MLO) Exam
Last Update Oct 14, 2024
Total Questions : 120 With Methodical Explanation
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Last Update Oct 14, 2024
Total Questions : 120
Last Update Oct 14, 2024
Total Questions : 120
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NMLS MLO
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Which of the following loan types may be considered a qualified loan under ability-to-pay rules
A real estate broker overhears her buyer discussing what she believes to be illegal activities while on a phone conversation. The real estate broker notifies the buyer's mortgage loan originator (MLO) that the borrower may be using illegally acquired funds as down payment for this property. The MLO decides to report some suspicious cash deposit transactions found in the borrower's bank records. Under the Patriot Act, the MLO may discuss the filing of this report with which of the following parties, if any?
Which of the following is not a primary function for compensation undertaken by a mortgage loan originator on an FHA loan?