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Important Days in Mortgage Loan Origination
NMLS
22
Real Estate & Planning
Not Applicable
08/05/2012
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Cards

Term
Annual Continuing Education
 Definition
8 hours
Term
Licensure Education
 Definition
20 hours
Term
Hud-1 Settlement
 Definition
24 hours
Term
Funds disbursed on Residential Refi
 Definition
3 days after close of escrow
Term
Disclosure/GFE & TR
 Definition
3 days after application
Term
Rescission of Residential Refi
 Definition
3 days
Term
Notice of Change of Services
 Definition
15 days
Term
Wait to re-exam after failure
 Definition
30 days
Term
Escrow month
 Definition
30 days
Term
FICO Report Dispute
 Definition
30 days
Term
Update Do-Not-Call-Records
 Definition
30 days
Term
Notify Consumer of underwriting decision
 Definition
30 days
Term
Do not Call - can call with inquiry
 Definition
3 months
Term
Break point installment payments
 Definition
10 months
Term
Wait to take an exam after 4 failings
 Definition
6 months
Term
Audit escrow account; over $50 & returned
 Definition
Annually
Term
Free Credit Report
 Definition
Annually
Term
Do Not Call - with transaction OK
 Definition
18 months
Term
W-2's, etc. needed
 Definition
2 years
Term
Time needed to reinstate expired licenses without retesting
 Definition
5 years
Term
Chapter 13 bankruptcy
 Definition
7 years
Term
Chapter 7 bankruptcy
 Definition
10 years
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