Ray Foster Ray Foster's Profile Page

Ray Foster Ray Foster

0 Course Enrolled • 0 Course Completed

Biography

NMLS - Latest MLO - Valid Mortgage Loan Origination (SAFE MLO) Exam Exam Answers

P.S. Free 2025 NMLS MLO dumps are available on Google Drive shared by DumpsKing: https://drive.google.com/open?id=1iV8o_aF6Cz5roeinfzLa2SvR68G-OFlO

The contents of MLO study materials are all compiled by industry experts based on the MLO examination outlines and industry development trends over the years. It does not overlap with the content of the MLO question banks on the market, and avoids the fatigue caused by repeated exercises. Our MLO Exam Guide is not simply a patchwork of exam questions, but has its own system and levels of hierarchy, which can make users improve effectively.

Most experts agree that the best time to ask for more dough is after you feel your MLO performance has really stood out. To become a well-rounded person with the help of our MLO study questions, reducing your academic work to a concrete plan made up of concrete actions allows you to streamline and gain efficiency, while avoiding pseudo work and guilt. Our MLO Guide materials provide such a learning system where you can improve your study efficiency to a great extent.

>> Valid MLO Exam Answers <<

MLO Reliable Guide Files - Study MLO Demo

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. According to your needs, you can choose any one version of our MLO Guide Torrent. For example, if you need to use our products in an offline state, you can choose the online version; if you want to try to simulate the real examination, you can choose the software. In a word, the three different versions of our MLO test torrent.

NMLS Mortgage Loan Origination (SAFE MLO) Exam Sample Questions (Q92-Q97):

NEW QUESTION # 92
A veteran borrower obtains a VA loan to purchase a property for $200,000 and opts to finance the entire purchase price plus the VA funding fee of 2.15%. The initial payment for principal and interest will be calculated based on a loan amount of:

A. $204,300
B. $200,000 plus lender's attorney fees
C. $204,300 plus lender's attorney fees
D. $200,000

Answer: A

Explanation:
The VA funding fee can be financed into the loan amount. The fee is calculated as a percentage of the base loan ($200,000 x 2.15% = $4,300). The total loan amount is thus $204,300.
"The VA funding fee may be included in the loan. The total loan amount is the base loan plus the funding fee."
- VA Lender's Handbook, Chapter 8: Loan Approval and Closing
References:
VA Lender's Handbook, Chapter 8
CFPB, VA Loan Funding Fee

NEW QUESTION # 93
Which of the following service providers is a mortgage loan originator permitted to require a borrower to use in obtaining a mortgage?

A. A homeowners insurance provider
B. A title company
C. A home inspection company
D. An appraiser

Answer: D

Explanation:
According to RESPA (Regulation X), a borrower generally has the right to choose their own settlement service providers. However, the appraiser is selected by the lender (not the borrower), and the borrower is required to use the appraiser chosen by the lender to ensure appraisal independence and lender risk management.
"A lender may require the use of a particular appraiser to perform the appraisal for a loan."
- RESPA, 12 CFR § 1024.2(b); Appraiser Independence Requirements
References:
CFPB, Your Home Loan Toolkit
Fannie Mae, Appraiser Independence Requirements

NEW QUESTION # 94
If a borrower only receives commission pay for 18 months, which of the following actions should a mortgage loan originator (MLO) take?

A. Take the application because positive factors may offset the short income history
B. Tell the borrower they need a steady income and not one that fluctuates
C. Take the application but tell the borrower that they will need a cosigner
D. Tell the borrower to come back in 6 months when they will have 24 months of commission pay

Answer: A

Explanation:
Standard guidelines recommend a 2-year history of commission income to count it as qualifying income.
However, lenders may consider a shorter history if there are positive factors to offset the shortfall. MLOs should always take the application and allow underwriting to review the overall credit risk.
"Generally, a minimum history of two years is recommended for commission income, but a shorter period may be considered with compensating factors."
- Fannie Mae Selling Guide, B3-3.1-05: Secondary Employment Income
References:
Fannie Mae, Commission Income Requirements
SAFE MLO National Test Study Guide

NEW QUESTION # 95
The TILA-RESPA Integrated Disclosure rule (TRID) applies to most closed-end consumer credit transactions secured by real property, which includes:

A. reverse mortgages.B home equity lines of credit (HELOCs;
B. refinance of a condominium property.
C. loans secured by a mobile home on a leased lot.

Answer: C

Explanation:
The TILA-RESPA Integrated Disclosure (TRID) rule applies to most closed-end consumer credit transactions secured by real property, including the refinance of a condominium property. TRID mandates specific disclosures, like the Loan Estimate (LE) and Closing Disclosure (CD), to ensure transparency in the loan process.
* TRID does not apply to reverse mortgages (A) or home equity lines of credit (HELOCs) (B), which are covered by other regulations.
* Loans secured by a mobile home on a leased lot (D) are also generally excluded from TRID.
References:
TILA-RESPA Integrated Disclosure Rule (TRID)
CFPB Guidelines on TRID applicability

NEW QUESTION # 96
For an FHA loan, which of the following payments must a borrower make to protect a lender in case of a foreclosure?

A. Down payment
B. Hazard insurance premium
C. Homeowners association dues
D. Mortgage insurance premium

Answer: D

Explanation:
For FHA loans, borrowers are required to pay a Mortgage Insurance Premium (MIP). This insurance protects the lender in case of default or foreclosure. FHA loans are backed by the Federal Housing Administration, and MIP is mandatory for borrowers due to the lower down payment requirements and increased risk to lenders.
* Mortgage Insurance Premium (MIP): FHA loans require an upfront MIP at closing (usually 1.75% of the loan amount) and annual MIP, which is divided into monthly installments and added to the mortgage payment.
* The MIP protects lenders by providing insurance coverage in the event the borrower defaults, reducing the lender's loss.
Other options:
* Down payment (A) is required but does not protect the lender.
* Hazard insurance premium (B) protects the property, not the lender in foreclosure.
* Homeowners association dues (D) are unrelated to lender protection.
References:
* FHA Single-Family Housing Policy Handbook
* U.S. Department of Housing and Urban Development (HUD) guidelines

NEW QUESTION # 97
......

You may be in a condition of changing a job, but having your own career is unbelievably hard. Then how to improve yourself and switch the impossible mission into possible is your priority. If you want to pass MLO exam, here come our MLO exam prep giving you a helping hand. Our company has the highly authoritative and experienced team to help you pass the MLO Exam. You can not only get the most helpful and valid MLO exam questions, but also you can get according suggestions on how to pass the MLO exam.

MLO Reliable Guide Files: https://www.dumpsking.com/MLO-testking-dumps.html

you can download any time if you are interested in our MLO dumps torrent, And the standards in all aspects about our MLO learning engine are also required by international standards, To get through the tough competition of the NMLS SAFE MLO exams like# MLO exam it is highly recommended to prepare according to the actual format of NMLS SAFE MLO exam, So you must search an effective tool to help you pass MLO Reliable Guide Files - Mortgage Loan Origination (SAFE MLO) Exam exam all the time.

Next: What happens when these negative words or phrases are reversed to make them positive, Creating Effects with the Radial Filter Tool, you can download any time if you are interested in our MLO Dumps Torrent.

Pass Guaranteed Quiz 2026 NMLS MLO: Perfect Valid Mortgage Loan Origination (SAFE MLO) Exam Exam Answers

And the standards in all aspects about our MLO learning engine are also required by international standards, To get through the tough competition of the NMLS SAFE MLO exams like# MLO exam it is highly recommended to prepare according to the actual format of NMLS SAFE MLO exam.

So you must search an effective tool to help you pass Mortgage Loan Origination (SAFE MLO) Exam exam all the time, Our experts are responsible to make in-depth research on the exams who contribute to growth of our MLO practice guide.

P.S. Free & New MLO dumps are available on Google Drive shared by DumpsKing: https://drive.google.com/open?id=1iV8o_aF6Cz5roeinfzLa2SvR68G-OFlO

Ray Foster Ray Foster

Biography

ABOUT

Pages

Contact