Uniform State Content (SAFE Act)Question 376 of 400
Which of the following is prohibited conduct for a mortgage loan originator under the SAFE Act's standards?
a.Disclosing the loan's annual percentage rate to the borrower
b.Providing the borrower with a written estimate of closing costs
c.Displaying the NMLS unique identifier on advertising
d.Making a false or deceptive statement or engaging in fraud in connection with a mortgage transaction
Explanation
The SAFE Act and implementing rules prohibit MLOs from defrauding consumers, making false or misleading statements, or engaging in dishonest or unfair practices. Disclosing the APR, providing cost estimates, and displaying the unique identifier are proper and often required conduct, not prohibited acts.
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