Nội dung tiểu bang thống nhất (SAFE)Câu 357 / 400
What is the primary purpose of the federal SAFE Act?
a.To set minimum standards for the licensing and registration of mortgage loan originators and increase consumer protection
b.To guarantee mortgage loans made to first-time homebuyers
c.To set the interest rates that lenders may charge on home loans
d.To provide federal down-payment assistance to low-income borrowers
Giải thích
The SAFE Act (Secure and Fair Enforcement for Mortgage Licensing Act of 2008) was enacted to enhance consumer protection and reduce fraud by establishing minimum national standards for licensing and registering mortgage loan originators. It does not guarantee loans, set interest rates, or provide down-payment assistance.
Trích dẫn luật: SAFE ActLuyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- An individual originates residential mortgage loans while employed by a national bank that is a depository institution. Under the SAFE Act, this individual must generally:
- The NMLS unique identifier (NMLS ID) assigned to a mortgage loan originator is best described as:
- Under the SAFE Act, how many hours of NMLS-approved pre-licensing education must an applicant complete to qualify for a state MLO license?
- To pass the NMLS SAFE MLO Test, a candidate must achieve a score of at least:
- How many hours of NMLS-approved continuing education (CE) must a state-licensed MLO complete each year to maintain the license?
- Which of the following is a required element of the criminal background review for a state MLO license applicant?
Cập nhật gần nhất: · quy trình kiểm tra
Đội Ngũ Biên Tập PrepPass · Đối chiếu với NMLS SAFE Mortgage Loan Originator National Test · Quy trình kiểm tra