QUESTION: 53

The appraiser valuation independence obligates appraisers to perform their duties in a manner free from outside influence through which of the following actions?

Encouraging a target value
Withholding payment from an appraiser
Asking the appraiser to substantiate a value
Communication directly between the loan officer and the appraiser

Answer(s): C

Reference:

https://blog.bankerscompliance.com/en/appraisal/valuation-independence

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QUESTION: 54

Which of the following fees is a finance charge?

A notary fee
An origination fee
An appraisal fee
A late payment fee

Answer(s): B

Reference:

https://www.investopedia.com/terms/f/finance_charge.asp

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According to the Equal Credit Opportunity Act (ECOA), which of the following terms is defined as a refusal to grant credit based on the requested loan terms, an unfavorable change in loan terms, or a termination of an account/application?

Adverse action
Account closure
Credit closure
Denial of credit

Answer(s): A

Reference:

https://www.ftc.gov/business-guidance/resources/using-consumer-reports-credit-decisions-what-know-about-adverse-action-risk-based-pricing-notices

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QUESTION: 56

According to Regulation Z, which of the following is a prohibited act?

Including undocumented child support payments made by the borrower
Issuing disclosures to applicants
Redisclosing a Loan Estimate immediately after locking the rate
Advertising rates not currently available to applicants

Answer(s): D

Reference:

https://www.investopedia.com/terms/r/regulation_z.asp

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Free MLO Exam Braindumps (page: 15)

QUESTION: 53

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QUESTION: 54

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QUESTION: 55

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QUESTION: 56

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