MLO New Exam Bootcamp, MLO Valid Guide Files

P.S. Free & New MLO dumps are available on Google Drive shared by ExamcollectionPass: https://drive.google.com/open?id=1JNAw78cUZ6wic689NMCVgBmQpiUlW9F4

The ExamcollectionPass is a leading platform that offers real, valid, and subject matter expert's verified MLO exam questions. These MLO exam practice questions are particularly designed for fast Mortgage Loan Origination (SAFE MLO) Exam (MLO) exam preparation. The ExamcollectionPass MLO exam questions are designed and verified by experienced and qualified NMLS MLO Exam trainers. They work together and put all their expertise and experience to ensure the top standard of ExamcollectionPass MLO exam practice questions all the time.

Before you try to attend the MLO practice exam, you need to look for best learning materials to easily understand the key points of MLO exam prep. There are MLO real questions available for our candidates with accurate answers and detailed explanations. We are ready to show you the most reliable MLO PDF VCE and the current exam information for your preparation of the test.

>> MLO New Exam Bootcamp <<

MLO Valid Guide Files, MLO Online Training Materials

ExamcollectionPass have a professional IT team to do research for practice questions and answers of the NMLS MLO exam certification exam. They provide a very effective training tools and online services for your. If you want to buy ExamcollectionPass products, ExamcollectionPass will provide you with the latest, the best quality and very detailed training materials as well as a very accurate exam practice questions and answers to be fully prepared for you to participate in the NMLS Certification MLO Exam. Safely use the questions provided by ExamcollectionPass's products. Selecting the ExamcollectionPass is equal to be 100% passing the exam.

NMLS Mortgage Loan Origination (SAFE MLO) Exam Sample Questions (Q173-Q178):

NEW QUESTION # 173
When there is no tax return history for a rental property, the Federal Housing Administration (FHA) requires gross rental income to be documented and reduced by what percentage?

A. 20%
B. 15%
C. 25%
D. 10%

Answer: C

Explanation:
When there is no tax return history for a rental property, FHA guidelines require lenders to reduce the gross rental income by 25% to account for vacancies and maintenance.
"If there is no history of rental income on the borrower's tax returns, the lender must reduce the market rent by 25% before considering it as effective income."
- HUD 4000.1 FHA Single Family Housing Policy Handbook
References:
HUD 4000.1, FHA Rental Income Requirements (see Rental Income)

NEW QUESTION # 174
In a federally related mortgage loan transaction, a charge for a settlement service by a person for which no services or nominal services are performed is prohibited:

A. regardless of the sources of payment.
B. only if it is paid by the borrower's real estate agent.
C. unless it is paid by the seller or the seller's real estate agent.
D. unless it is paid by the mortgage loan originator on the borrower's behalf.

Answer: A

Explanation:
Under RESPA (Real Estate Settlement Procedures Act), it is illegal to charge a fee for a settlement service if no services or only nominal services are performed. This is true regardless of who pays the fee, whether it's the borrower, seller, real estate agent, or any other party. RESPA prohibits unearned fees, kickbacks, or payments for referrals in federally related mortgage transactions.
* Even if someone other than the borrower pays, the charge is still illegal if it is not justified by actual services performed.
References:
* RESPA Section 8 - Prohibition on kickbacks and unearned fees
* CFPB RESPA Guidelines

NEW QUESTION # 175
A borrower's monthly debt-to-income ratio is calculated by taking the:

A. eligible total monthly debt obligations, including the monthly housing expense, divided by the borrower's gross monthly income.
B. borrower's gross monthly housing expense divided by the principal, interest, and appraised value.
C. eligible total monthly debt obligations for trade lines greater than 12 months multiplied by the borrower's net monthly income.
D eligible total monthly debt obligations excluding the monthly housing expense divided by the borrower's net monthly income

Answer: A

Explanation:
The debt-to-income (DTI) ratio is a key metric used by lenders to assess a borrower's ability to manage monthly payments and repay a mortgage. It is calculated by dividing the borrower's total monthly debt obligations, including:
* Monthly housing expenses (principal, interest, taxes, and insurance, also known as PITI).
* Any other recurring debt obligations (car loans, student loans, credit card payments, etc.).
This total is divided by the borrower's gross monthly income (before taxes and deductions). This calculation helps determine whether the borrower meets lending standards, with most lenders preferring a DTI ratio below 43% for qualified mortgages.
References:
* Fannie Mae and Freddie Mac guidelines on debt-to-income ratio
* CFPB Qualified Mortgage Rules

NEW QUESTION # 176
The upfront premium charged on an FHA mortgage transaction to protect a creditor in the event of borrower default is an example of:

A. optional credit life insurance.
B. government mortgage insurance.
C. force-placed hazard insurance.
D. private mortgage insurance

Answer: B

Explanation:
The upfront premium charged on an FHA mortgage is an example of government mortgage insurance.
This upfront mortgage insurance premium (UFMIP) is required for FHA loans and protects the lender (creditor) in the event of borrower default. FHA loans are insured by the Federal Housing Administration (FHA), a government agency.
* Private mortgage insurance (D) is used for conventional loans, while optional credit life insurance (A) and force-placed hazard insurance (B) are unrelated to FHA loans.
References:
* FHA Single Family Housing Policy Handbook
* HUD Guidelines on UFMIP

NEW QUESTION # 177
Which of the following situations requires further documentation when reviewing bank statements for documentation of assets for down payment and closing costs?

A. When there are two borrowers on a loan and only one of the borrowers' names is shown on a bank statement
B. When the bank statement comes from an institution that does not have a local presence
C. When the bank statement shows very little activity on the account
D. When there is a large deposit that is not a payroll deposit

Answer: D

Explanation:
When underwriting a loan, large or unusual deposits that are not readily identifiable (such as payroll deposits) must be sourced and documented. This is to ensure the funds are not borrowed or from an unacceptable source.
"If a bank statement reveals a large deposit that is not payroll-related, the lender must document the source of funds."
- Fannie Mae Selling Guide, B3-4.2-02: Depository Accounts
References:
Fannie Mae, Verifying Assets
SAFE MLO National Test Study Guide

NEW QUESTION # 178
......

Candidates who become NMLS MLO certified demonstrate their worth in the NMLS field. The Mortgage Loan Origination (SAFE MLO) Exam (MLO) certification is proof of their competence and skills. This is a highly sought-after skill in large NMLS companies and makes a career easier for the candidate. To become certified, you must pass the Mortgage Loan Origination (SAFE MLO) Exam (MLO) certification exam. For this task, you need high-quality and accurate Mortgage Loan Origination (SAFE MLO) Exam (MLO) exam dumps. We have seen that candidates who study with outdated Mortgage Loan Origination (SAFE MLO) Exam (MLO) practice material don't get success and lose their resources.

MLO Valid Guide Files: https://www.examcollectionpass.com/NMLS/MLO-practice-exam-dumps.html

For most busy IT workers, MLO dumps pdf is the best alternative to your time and money to secure the way of success in the IT filed, Besides, the questions of MLO updated study torrent is the best relevant and can hit the actual test, which lead you successfully pass, NMLS MLO New Exam Bootcamp You can spend more time doing other things, Finally, you will pass the exam and get a NMLS MLO Valid Guide Files certification.

Through this medium, you can reposition yourself from vendor to author, Preparation MLO Store creating content and designing it your way, Both the Fire HD and Nook HD have high-resolution displays and tons of available content;

Features of ExamcollectionPass NMLS MLO Web-Based Practice Exam

For most busy IT workers, MLO Dumps PDF is the best alternative to your time and money to secure the way of success in the IT filed, Besides, the questions of MLO updated study torrent is the best relevant and can hit the actual test, which lead you successfully pass.

You can spend more time doing other things, Finally, you MLO New Exam Bootcamp will pass the exam and get a NMLS certification, If you purchase our Mortgage Loan Origination (SAFE MLO) Exam guide torrent, we can make sure that you just need to spend twenty to thirty hours MLO on preparing for your exam before you take the exam, it will be very easy for you to save your time and energy.

P.S. Free & New MLO dumps are available on Google Drive shared by ExamcollectionPass: https://drive.google.com/open?id=1JNAw78cUZ6wic689NMCVgBmQpiUlW9F4

Josh White Josh White

Biography

MLO New Exam Bootcamp, MLO Valid Guide Files

MLO Valid Guide Files, MLO Online Training Materials

NMLS Mortgage Loan Origination (SAFE MLO) Exam Sample Questions (Q173-Q178):

Features of ExamcollectionPass NMLS MLO Web-Based Practice Exam

Archives