Did
you
know
there
is
currently
a
33%
failure
rate
for
the
NMLS
test?
Did
you
know
that
the
failure
rate
is
rising
as
more
individuals
take
the
test?
Are
you
prepared
to
take
the
test?
Here
are
a
couple
of
questions,
do
you
know
the
correct
answers?
In
compliance
with
the
TILA,
a
lender
has
issued
a
disclosure
statement
indicating
an
annual
percentage
rate
of
5.125
percent.
Prior
to
closing,
the
lender
discovered
that
the
actual
annual
percentage
rate
will
be
5.20
percent.
Under
these
circumstances,
which
of
the
following
is
true[p1] ?
a.
The
borrower
may
cancel
the
transaction
and
receive
a
refund
of
all
monies
paid.
b.
The
lender
must
make
a
redisclosure
because
the
actual
annual
percentage
rate
is
higher
than
the
disclosed
annual
percentage
rate.
c.
No
further
disclosure
is
required
because
the
actual
annual
percentage
rate
is
within
one-eighth
of a
percent
of
the
disclosed
annual
percentage
rate.
d.
The
lender
must
charge
the
disclosed
annual
percentage
rate
Correct
answer:
c
Lender
has
received
an
appraisal
report
from
a
certified
residential
appraiser. Utilizing
the
sales
comparison
approach, the
appraiser
made
a
net
adjustment
of
$28,300
to a
comparable
property
with
a
sales
price
of
$200,000.
According
to
FNMA
guidelines,
which
of
the
following
is
TRUE?
a.
This
is
unacceptable
because
the
net
adjustment
is
greater
than
10
percent.
b.
This
is
acceptable
because
the
net
adjustment
is
15
percent
or
less.
c.
This
is
unacceptable
because
the
maximum
net
adjustment
allowed
is
20percent.
d.
This
is
acceptable
because
the
minimum
net
adjustment
is
10
percent.
Correct
answer:
b
We
sought
out
the
best
instructor
to
help
you
prepare
for
these
and
many
other
challenging
questions.
He
will provide
you
with
the
knowledge
necessary
to
PASS
the
National
Component
of
the
NMLS
Mortgage
Loan
Originator
exam.
Rick
Larson
is
an
author
of
the
20-Hour
SAFE
Comprehensive
and
License
Exam
Preparation
courses.
He
is
also
an
outstanding
presenter
with
more
than
30
years
of
teaching
and
writing
experience
in
real
estate,
real
property
appraisal,
community
association
management,
and
mortgage
lending.
Rick
has
unmatched
exam
preparation
expertise.
Co-founder
and
manager
of
Larson
Educational
Services
and
Dean
of
Students
for
Kaplan
Professional
Schools,
Rick
is a
nationally-recognized
author,
speaker
and
instructor
development
manager.
Mr.
Larson
has
authored
more
than
100
real
estate
and
mortgage
textbooks
and
manuals
for
Florida,
Minnesota,
Colorado,
California,
and
Michigan.
He
and
his
instructors
have
assisted
more
than
500,000
professionals
to
achieve
their
career
goals
in
mortgage
loan
origination,
real
estate,
real
estate
appraisal,
residential
construction,
and
insurance.
After
attending
this
course,
you
will
feel
confident
in
knowing
that
you
are
prepared
to
take
the
exam
and
PASS!
The
course
includes:
*
Approximately
7.5
hours
of
instructor-led
coursework
*
Workbook
with
printed
key
points
and
sample
“True
/
False”
questions
*
Pre-test
for
self-assessment
of
your
current
ability
to
pass
the
exam
*
Post-
test
to
measure
your
newly
acquired
acumen
*
Practice
tests
for
at-home
studying
When: August
26th,
2010
8:00
Registration
8:30
-
5:00
pm Cram
Course
(Lunch
on
your
own)
Where: Crowne
Plaza,
1601
Belvedere
Road,
WPB,
FL
Cost:
$150.00/Members
$199.00/Non
Members
