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18 Cards in this Set
- Front
- Back
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Who is the head of the PA Department of Banking?
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If the Department issues a cease and desist order, what must they also do?
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Who needs to obtain a license in order to conduct mortgage activity in PA?
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When does a felony conviction not count against an applicant for licensure?
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How long must licensees preserve books and records?
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When must the Department be notified when a licensee changes their name?
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How is a mortgage lender defined?
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A mortgage broker is not required to obtain a surety bond in which situation?
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Un-licensed mortgage-related activity can lead to what penalty?
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Which fees are included in the definition of “point and fees?”
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Refinancing a zero rate or low rate loan is prohibited unless?
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When must the Notice of Intention to Foreclose be provided to a borrower?
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How many hours of ethics are required for pre-licensing?
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What are a few examples of prohibited acts by loan originators?
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What are the fees that correspondent lenders and brokers are allowed to charge?
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When must a licensee retake the PA state licensing exam?
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When must the Department be notified of violations by a loan originator?
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What are 3 reasons why the Department would reinstate a license?
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What information must be included on a rate-lock agreement?
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Who can make a loan modification?
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What are a few prohibited clauses on mortgage loan documents?
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What is the max mortgage late fee that can be charged on a secondary loan?
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How is a mortgage loan originator defined?
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A mortgage loan originator’s role does not include?
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How many hours of continuing education are required for a MLO?
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If an applicant is denied for licensure, what action can they take?
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What is the surety bond requirement for licensees based on?
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What are a few requirements that applicants for licensure must complete?
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Which document must be provided to a borrower, evidencing the mortgage loan?
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When is the annual report due?
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What is the difference between a person and a natural person?
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What are a few examples of prohibited acts by mortgage brokers?
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Where must records be kept?
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What is the maximum that a licensee can charge a borrower for a copy of the appraisal?
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How can a consumer seek recovery from a surety bond?
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How is a dwelling defined?
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