Which of the following acts provides a state licensing and regulatory agency to investigate and examine a mortgage company?
Answer(s): A
https://www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/secure-fair-enforcement-for-mortgage-licensing-act/
Which of the following sources of funds is acceptable to utilize for down payments, closing costs or financial reserves?
Answer(s): B
https://myhome.freddiemac.com/blog/homeownership/20171204-4Cs-qualifying-mortgage
In the loan application process, when must specific disclosures be provided to a borrower for an ARM?
Answer(s): D
https://www.minneapolisfed.org/article/2015/adjustable-rate-mortgage-disclosures
An individual who is a loan processor or underwriter must maintain a state originator license if they:
Answer(s): C
https://www.consumerfinance.gov/rules-policy/regulations/1008/c/
Which of the following fees or charges is an allowable closing cost typically found on a Closing Disclosure?
https://www.consumerfinance.gov/owning-a-home/closing-disclosure/
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