Nationwide Multistate Licensing System NMLS Quiz
20 questions · no time limit
0:00
Finish quiz
FEDERAL MORTGAGE-RELATED LAWS
Question 1
of 20
Flag for review
No time limit
Current
Answered
Flagged
Not seen
For high-cost mortgages under HOEPA, what is the points and fees threshold for loans of $20,000 or more?
A
3% of the total loan amount or $1,000, whichever is less for conforming loan products
B
5% of the total loan amount or $1,000, whichever is greater for all qualifying mortgages
C
8% of the total loan amount or $400, whichever is greater for non-conforming loan products
D
10% of the total loan amount or $2,000, whichever is less for government-backed mortgages
YOUR PROGRESS
20
QUESTIONS
Ready when you are
Answer in any order. Your progress shows here as you go.
QUESTIONS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
KEYBOARD
Pick an answer
A
B
C
D
Next question
↵
→
Previous
←
Flag for review
F