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17 Cards in this Set
- Front
- Back
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Who is the head of the Virginia Bureau of Financial Institutions?
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Who needs to obtain a license in order to conduct mortgage activity in VA?
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How is a mortgage lender defined?
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How long must licensees preserve books and records?
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What is the range of the surety bond requirement?
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What is the surety bond requirement for licensees based on?
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What are a few examples of prohibited acts by mortgage loan originators?
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How many hours of continuing education are required for a MLO?
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How long will a felony conviction count against an applicant for licensure?
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What is the notification requirement for a change in a loan originator’s address?
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When is the last day to reinstate an expired license?
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What are a few examples of records that must be retained by a mortgage broker?
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When must a loan originator retake the VA state exam?
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What is the maximum loan fee that can be charged on a 1st lien mortgage?
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Within how many days must a mortgage lender provide a payoff statement?
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Advertising must comply with which federal law?
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What type of advertisement is excluded from the record retention requirement?
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When must a licensee refund lock-in or commitment fees?
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How long does a licensee have to request a hearing?
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What is the end result of predatory lending?
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What is the notification requirement for the termination of a mortgage loan originator?
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What are a few examples of individuals or entities that are exempt from licensing?
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What type of compensation does an independent contractor receive?
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How is a mortgage loan defined?
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If a loan originator instructs a 1 hour continuing education course they will receive credit for?
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What are the requirements for opening a new branch?
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What is “loan flipping?”
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What disclosure is required when an advertisement states “pre-approved for a mortgage loan?”
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What is included in the definition of an advertisement?
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What is the minimum net worth requirement for a mortgage lender?
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What are persons suspended or barred under The Virginia Mortgage Lender and Broker Act able to do?
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How often can the Commissioner conduct investigations?
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What is the maximum interest rate that can be charged on a subordinate lien?
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When must costs of an investigation be paid by the licensee?
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