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Horizontales
To maintain a license, a state licensed loan originator must complete _____ hours of NMLS approved course work annually.
The act created to regulate those who originate loans in the primary market. (Abbr.)
A __________ loan originator is an employee of a depository institution such as a bank, savings association or credit union.
These standards set the minimum licensing Standards for licensure but does not prohibit states from creating their own stricter licensing requirements .(Abbr.)
A state is not required to license: Processors or Underwriters, a loan originator who is an employee of a depository institution, real estate broker, anyone who offers/negotiates terms of a residential mortgage on behalf of an immediate family member, anyone who offers/negotiates terms of their own residence or an employee of a bona fide non-profit organization. These are all examples of ______________ _________________. (two words_
A residential structure that contains 1-4 units. Includes Condos, coops, mobile homes, trailers, if they are used as a residence.
Verticales
Left unmaintained, a license will expire in ____ _____. (two words)
This type of evaluation requires review of, fingerprints, credit report, government agency records.
Conference of State bank Supervisors (Abbr.)
To become a state licensed loan originator, you must complete ______ hours of NMLS approved coursework prior to obtaining a license.
This section of the SAFE act applies to employees of depository institutions i.e Registered mortgage loan originators. (Abbr., two wds)
Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (Abbr.)
This section of the SAFE act applies to non-depository institutions and their employees i.e. state-licensed mortgage companies, mortgage brokers, mortgage loan originators. Abbr., (two words)
The database of all registered loan originators.
An individual who takes mortgage loan applications and offers/negotiates terms of the mortgage loan. (Abbr.)