Learnersreference.com is the number one website to learn. As you learn, first, let's take a look at some NMLS exam sample practice questions. A builder has unsold the condo units that they want to sell under pressure. As a result, they offer excessive seller concession and down payment assistance. This raises the loan-to-value of some properties to 102 percent of the real property price. What is this fraud referred to as? Option A: seller concession fraud, Option B: Builder bailout, Option C: air loans, Option D: straw seller. The correct answer is Builder bailout. Which among the following is a person that brings together a borrower and a lender? Option A: mortgage loan processor, Option B: mortgage loan officer, Option C: mortgage broker, Option D: mortgage pranks. The correct answer is mortgage broker, as they are the personnel who bring together a borrower and a lender. An applicant is applying for a loan that does not fall under the USDA Community lending State Bond program. However, they choose to disclose their income voluntarily. What should happen next? Select all that apply. Option A: income can be disclosed, Option B: income must be court ordered, Option C: no receipt is needed, Option D: a conti needs to be demonstrated. The correct answer is that the income must be court ordered, a history of receptors must be established, and a conti needs to be demonstrated. Who needs a security bond? Option A: all real test, Option B: all licensed loan originator, Option C: all real estate brokers, Option D: all mortgage broker companies. The correct answer is all licensed loan originators. Mortgage loan originators need a surety bond. When is the loan applicant required to disclose the earnings of alimony, child support, separate maintenance? Select all that apply. Option A: covered loans, Option B: USDA loan,...
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