Question 1
Under TRID, the Loan Estimate must be delivered or placed in the mail no later than how many business days after the lender receives a complete application?
Correct Answer:
3 business days
Question 2
Under the ATR/QM rule, what is the maximum debt-to-income ratio for a General QM loan covered by the price-based threshold replacing the prior 43% DTI cap?
Correct Answer:
No fixed DTI; lender must verify and consider DTI but use APR/APOR spread
Question 3
A Closing Disclosure must be received by the consumer no later than how many business days before consummation?
Correct Answer:
3 business days
Question 4
Which of the following changes to a Closing Disclosure triggers a new 3-business-day waiting period?
Correct Answer:
All of the above
Question 5
Under RESPA Section 8, which of the following arrangements is prohibited?
Correct Answer:
A referral fee paid to a real estate agent for sending a borrower to a specific lender
Question 1
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About this Exam

Prepare with the MBA CMB Practice Questions - Certified Mortgage Banker (Residential) Exam practice quiz. This question bank includes 100 questions covering loan, mortgage, fannie, maximum, and section. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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MBA CMB Practice Questions - Certified Mortgage Banker (Residential) Exam

This practice set contains 100 questions from the matching question bank and focuses on loan, mortgage, fannie, maximum, and section. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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