NMLS Review Practice Exam Questions 2024.

NMLS Review Practice Exam Questions 2024. 1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days - correct answer •90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance - correct answer cost of fund index 3) Subordinate financing relates to •seller financing. •second mortgages. •financing in the secondary mortgage market. •subprime loans. - correct answer second mortgage 4) Explain what Investors with non-recourse loans mean? •Borrower does not have any recourse on default •Borrower doesn't occupy the property •Borrower has 20% equity - correct answer Borrower does not have any recourse on default 5) Which of the following is true of the COFI?