Mortgage Loan Originator Questions with Complete Solutions (Latest 2025) What does RESPA stand for? - Correct Answers ✅The Real Estate Settlement Procedures Act (Regulation X) What does ECOA stand for? - Correct Answers ✅Equal Credit Opportunity Act (Regulation B) What does TILA stand for? - Correct Answers ✅Truth In Lending Act (Regulation Z) What does TRID stand for? - Correct Answers ✅TILA-RESPA Integrated Disclosure Rule (a.k.a. "Know Before You Owe") What does CFPB stand for? - Correct Answers ✅Consumer Financial Protection Bureau What does NMLS stand for? - Correct Answers ✅Nationwide Mortgage Licensing System and Registry What is SAFE and UST? - Correct Answers ✅Secure and Fair Enforcement for Mortgage and Licensing Act of 2008, and Uniform State Test.Included in the Loan Estimate, all of the following are part of
the finance charge except the:
- Appraisal cost 1 / 2
Mortgage Loan Originator Questions with Complete Solutions (Latest 2025)
- VA funding fee
- Per diem interest
- Origination charges - Correct Answers ✅A. Appraisal
cost If an applicant works 40 hours every week and is paid $13.52 per hour, what is the applicant's monthly income?
A. $2,163.20
B. $2,343.47
C. $2,379.52
- $2,487.68 - Correct Answers ✅B. $2,343.47
- Wire Transfer
- Prepaid interest
- Hazard Insurance
- Mortgage insurance premiums - Correct Answers ✅C.
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According to the TILA, which of the following fees is excluded from the calculation of the APR?
Hazard insurance Brokerage Services - Correct Answers ✅Include obtaining or attempting to obtain, on behalf of a borrower, a residential mortgage loan, secured by residential real estate, made with the funds of another institutional lender and closed in the