Exam (elaborations)
SAFE Mortgage Loan Originator (MLO) Test with Complete Solutions
- Course
- Institution
Prequalification - ANSWER-an estimate of the loan amt. for which the buyer can qualify based on his income/credit under the lender’s standards USDA ratio - ANSWER-29/41 FHA ratio - ANSWER-31/43 Asset based loan - ANSWER--loans based on borrowers’ equity -bad when lenders fail to consi...
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