Nội dung tiểu bang thống nhất (SAFE)Câu 385 / 400
What was a primary factor motivating Congress to pass the SAFE Act in 2008?
a.Widespread mortgage fraud and abuses that contributed to the housing and financial crisis, and inconsistent regulation of MLOs across states
b.A shortage of licensed real estate appraisers nationwide
c.The need to lower federal income tax rates on homeowners
d.A desire to nationalize all residential mortgage lending
Giải thích
The SAFE Act was passed in the wake of the housing and financial crisis, when mortgage fraud and inconsistent, sometimes weak, state oversight of loan originators harmed consumers. Congress sought uniform minimum standards, accountability, and a nationwide tracking system to protect consumers and reduce fraud.
Trích dẫn luật: SAFE ActLuyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Which statement best distinguishes a state-licensed MLO from a federally registered MLO?
- The SAFE Act sets minimum national standards but allows states to do which of the following?
- An MLO places a radio advertisement for mortgage services. Under the SAFE Act, what must the advertisement include regarding the unique identifier?
- An individual originates a mortgage loan secured by their own residence for their own personal use and receives no compensation. Under a common SAFE Act exemption, this person is:
- Which of the following best describes the 'general fitness and character' standard the SAFE Act requires of MLO applicants?
- A state-licensed MLO completes their 8 hours of continuing education on December 30 but does not submit the renewal request until January 15 of the next year. What is the most likely consequence?
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Đội Ngũ Biên Tập PrepPass · Đối chiếu với NMLS SAFE Mortgage Loan Originator National Test · Quy trình kiểm tra