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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Mortgage Loan Origination Activities | 27% | - Loan Origination Process
|
| Topic 2: Ethics | 18% | - Ethical Practices
|
| Topic 3: General Mortgage Knowledge | 20% | - Mortgage Fundamentals
|
| Topic 4: Federal Mortgage-Related Laws | 24% | - Federal Mortgage Laws
|
| Topic 5: Uniform State Content | 11% | - State Regulatory Content
|
A second (subordinate) mortgage loan includes:
Correct Answer: C 🗳️
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Within three business days of receiving an application, which of the following information is a creditor required to provide to an applicant?
Correct Answer: C 🗳️
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According to the SAFE Act, which of the following activities requires licensure as a mortgage loan originator?
Correct Answer: B 🗳️
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Which of the following is an origination fee?
Correct Answer: A 🗳️
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In a loan transaction subject to the TILA-RESPA Integrated Disclosure rule (TRID), the creditor must ensure that the consumer receives a Closing Disclosure reflecting the actual terms of the transaction:
Correct Answer: D 🗳️
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