Cofi index Study guides, Class notes & Summaries
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NMLS Practice Test questions with correct answers
- Exam (elaborations) • 8 pages • 2023
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1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 
30 days 
•60 days 
•90 days Answer •90 days 
 
2) A COFI index is defined as? 
 
Cost of funds index 
•Cost of financial index 
•Cost of funding insurance Answer cost of fund index 
 
3) Subordinate financing relates to 
 
•seller financing. 
•second mortgages. 
•financing in the secondary mortgage market. 
•subprime loans. Answer second mortgage 
 
4) Explain what Investors with non-recourse loa...
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NMLS Practice Test Questions and answers, rated A+/ LATEST UPDATE [ EXAM PREDICTION QUIZZES]
- Exam (elaborations) • 7 pages • 2024
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NMLS Practice Test Questions and 
answers, rated A+ 
1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 
30 days 
•60 days 
•90 days - -•90 days 
2) A COFI index is defined as? 
Cost of funds index 
•Cost of financial index 
•Cost of funding insurance - -cost of fund index 
3) Subordinate financing relates to 
•seller financing. 
•second mortgages. 
•financing in the secondary mortgage market. 
•subprime loans. - -second mortgage 
4) Explain what...
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NMLS PRACTICE QUESTIONS & ANSWERS RATED 100% CORRECT!!
- Exam (elaborations) • 25 pages • 2024
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"Integration" is - depositing cahs and then using that cahs to purchase real estate folowed by 
using that real estate as collateral on a loan which is paid back with large cash payments 
"Placement" is - the process of introducing unlawful proceeds into the financial system 
a 100k loan has a 7.5% payment cap and a current monthly payment of 1k At the next adjustment 
payment could not be increased more than - 1075% bc the 7.5% cap is on the payment not the 
mortgage 
a 2/1 buydown - reduce...
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NMLS Practice Test | Questions with 100% Correct Answers | verified
- Exam (elaborations) • 7 pages • 2023
- Available in package deal
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- $7.99
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1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 
30 days 
•60 days 
•90 days - •90 days 
2) A COFI index is defined as? 
Cost of funds index 
•Cost of financial index 
•Cost of funding insurance - cost of fund index 
3) Subordinate financing relates to 
•seller financing. 
•second mortgages. 
•financing in the secondary mortgage market. 
•subprime loans. - second mortgage 
4) Explain what Investors with non-recourse loans mean? 
•Borrower does...
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NMLS Practice Test Exam Questions with Complete Solutions
- Exam (elaborations) • 5 pages • 2024
- Available in package deal
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- $10.49
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1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 
30 days 
•60 days 
•90 days - Answer-•90 days 
 
2) A COFI index is defined as? 
 
Cost of funds index 
•Cost of financial index 
•Cost of funding insurance - Answer-cost of fund index 
 
3) Subordinate financing relates to 
 
•seller financing. 
•second mortgages. 
•financing in the secondary mortgage market. 
•subprime loans. - Answer-second mortgage 
 
4) Explain what Investors with non-recour...
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Mortgage Loan Originator Exam Questions & Right Answers
- Exam (elaborations) • 82 pages • 2024
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AARMR - Correct Answer American Association of Residential Mortgage Regulators 
 
AML - Correct Answer Anti-Money Laundering 
 
APR - Correct Answer Annual Percentage Rate 
 
ARM - Correct Answer Adjustable Rate Mortgage 
 
BSA - Correct Answer Bank Secrecy Act 
 
CC&R - Correct Answer covenants, conditions, and restrictions 
 
CE - Correct Answer continuing education 
 
CFPB - Correct Answer Consumer Finance Protection Bureau 
 
CFR - Correct Answer Code of Federal Regulations 
 
CHARM...
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NMLS Practice Test 100% Correct Solved
- Exam (elaborations) • 8 pages • 2024
- Available in package deal
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NMLS Practice Test 100% Correct Solved 
1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 
30 days 
•60 days 
•90 days - Correct Answer️️ -•90 days 
2) A COFI index is defined as? 
Cost of funds index 
•Cost of financial index 
•Cost of funding insurance - Correct Answer️️ -cost of fund index 
3) Subordinate financing relates to 
•seller financing. 
•second mortgages. 
•financing in the secondary mortgage market. 
•subprime loans. - Correc...
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SAFE MLO Exam 2024 | 87 Questions with Complete Solutions | A+ Grade
- Exam (elaborations) • 13 pages • 2024
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AARMR stands for - American Association of Residential Mortgage Regulations 
AML - Anti-Money Laundering 
Blockbusting - Illegal practice of inducing homeowners to sell their properties cheaply by telling 
them that a certain people of a certain race, national origin or religion are moving into the area, and 
thus profiting by reselling at a higher price 
CC&R - covenants, conditions, and restrictions 
CFPB - The Consumer Financial Protective Bureau - an independent federal agency that holds 
pr...
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MICHIGAN REAL ESTATE EXAM QUESTIONS AND ANSWERS 2024|GUARANTEED SUCCESS
- Exam (elaborations) • 29 pages • 2023
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Conventional Mortgages 
neither insured nor guaranteed. Typically requires 20%-25% down payment. 
 
 
 
Conventional with PMI 
(Private mortgage insurance) A conventional loan with insurance on it- up to 20%. The law passes in 1998 made it mandatory for the lenders to drop the PMI when the loan balance reaches 78% of the original value of the property. Borrower can request the lender to drop the PMI, when the balance reaches 80% of the value of the property. FNMA and FHLMC encourages lenders to ...
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NMLS Practice Test with correct answers 2023
- Exam (elaborations) • 5 pages • 2023
- Available in package deal
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- $15.49
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NMLS Practice Test with correct answers 20231) Seller can Sell property at a premium/profit with Fannie Mae financing after? 
30 days 
•60 days 
•90 days 
•90 days 
 
 
 
2) A COFI index is defined as? 
 
Cost of funds index 
•Cost of financial index 
•Cost of funding insurance 
cost of fund index 
 
 
 
3) Subordinate financing relates to 
 
•seller financing. 
•second mortgages. 
•financing in the secondary mortgage market. 
•subprime loans. 
second mortgage 
 
 
 
4) Explain...
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