Last Update Oct 10, 2024
Total Questions : 120 With Comprehensive Analysis
Last Update Oct 10, 2024
Total Questions : 120
Mortgage Loan Origination (SAFE MLO) Exam
Last Update Oct 10, 2024
Total Questions : 120 With Comprehensive Analysis
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In the loan application process, when must specific disclosures be provided to a borrower for an ARM?
A mortgage loan originator (MLO) received a salary of 1% per loan plus a bonus of $5,000 for closing the most loans in the office last year. In addition, he received a trip to Hawaii based on closing 100 or more transactions with an interest rate of 5% or higher. Is the MLO's compensation prohibited?
An easement: