What is a characteristic of a mortgage loan regulated by Hoepa?
What is high cost high interest loan.
100
Word for a natural person.
What is an individual.
100
This show with dancing and singing high school kids is the favorite show of
What is Nate's favorite show
100
Sales Price ?
Loan Amount $100,000
LTV-70%
$142,858
200
What is the change of sponsor fee?
What is $10
200
When can a loan servicer charge for an escrow statement.
What is under no circumstances
200
Real property located in Oklahoma 2 unit and 10 acres with a community pool.
What is residential real property.
200
From the cast of Jersey shore, the real name of 'Situation'..
What is Michael Sorrentino
200
Nate has a 7%, 30 year, 2/1 term buydown loan. What is the interest rate for the 3rd year?
7%
300
Loan originator licensing fee?
What is $200 plus $10 plus NMLS fee.
300
According to the statement on subprime mortgage lending issued by the federal reserve and other agencies, the prepayment penalty should not....
What is extend past the fixed period of the interest rate.
300
Person that directly or indirectly exercises control over a licensed applicant.
What is a control person.
300
How many NFL football teams currently have cheerleaders
What is 26.
300
Borrower has ARM currently at 4.25% and it will adjust next month. Index is 2.75 and the margin is 5.00%. The cap for the adjustment period is 2.00%. What will the interest rate be.
6.25%
400
Civil fine for breaking the Oklahoma Consumer Credit regulations.
What is the up to $2500 per violations with $5000 max for a single incident.
400
Predatory lending can take many forms, name a warning sign of possible predatory lending
What is offered interest slightly higher than a competitors rate.
redlining
steering
discrimination
changed terms at closing
400
Fudiaciary Duty
What is one person who is acting in the best interest of the other.
400
Which social networking site has been caught red handed in a smear campaign against Google.
What is Facebook.
400
On a 100,000 mortgage, the monthly mortgage insurance is .36% What is the monthly premium?
$30
500
What is the broker licensing fee?
What is $950 plus $10 recovery fee plus the NMLS and a potential $150 branch fee, and maybe a $200 license fee.
500
The max origination fee that can be charged on a home equity conversion mortgage (HECM)
What is 2% not to exceed $6000.
500
Caveat mapeor
What is 'Let the buyer beware'
500
In Oklahoma violaters can be fined, arrested or jailed for which act:
walking down the street in boots
riding a horse on the highway
making ugly faces at a dog
What is 'making an ugly face at a a dog'
500
Sales price of $550,000.
1st mortgage-$450,000
CLTV-96%
LTV-82%
What is the 2nd mortgage value?