NMLS General Mortgage Knowledge Practice Test Questions

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An underwriter takes their job seriously, as it will be up to them to decide the fate of a mortgage application based on provided evidence and write up the final mortgage agreement. What isn’t an official underwriting standard?

A law that is unrelated to mortgage lending. An underwriter is happy with the application but needs some extra information. False. That lenders can make the most money from their applicants.

Correct Answer:

That lenders can make the most money from their applicants.

Explanation:

Correct answer: That lenders can make the most money from their applicants.

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