Mortgage Regulatory Authority Quiz

$25,000 (correct)

$10,000

The State Regulatory Authority is not permitted to impose penalties.

$5,000

Reduce fraud by encouraging states to establish minimum standards for the licensing and registration of state-licensed mortgage loan originators.

Reduce fraud by creating an enforcement agency that prosecutes unethical activity (correct)

Establish and maintain a nationwide mortgage licensing system and registry

Provide consumers with easily accessible information, offered at no charge, through electronic media, including the Internet

$300,000

An amount determined by the State Regulatory Authority that reflects the dollar amount of loans originated. (correct)

$100,000

$200,000

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