Hud exam 2 - Study guides, Class notes & Summaries

% Impact of Account Payment History on Credit Score 35% portion of credit score based on the payment history of accounts, including late payments, delinquencies, judgments, and liens % Impact of Amounts Owed on Accounts on Credit Score 30% portion of score based on the ratio of total credit extended to the amount of credit owed % Impact of Length of Credit History on Credit Score 15% portion of score based don the overall length of credit history in the report, as well as ave...

HUD Exam 2023 Correct Questions and Answers 100% Rated. Telephone Customer Services: correct answerAssistance provided by the financial institution over the phone to help customers with banking complications. Mobile Banking: correct answerAllows clients to utilize banking services with mobile technology. Services often included in mobile banking include a view of up-to-date transactions, fund transfers, or remote check deposits. Overdraft Fee correct answerFee charged when an account does ...

HUD Exam 2023 Correct Questions and Answers 100% Rated. Telephone Customer Services: correct answerAssistance provided by the financial institution over the phone to help customers with banking complications. Mobile Banking: correct answerAllows clients to utilize banking services with mobile technology. Services often included in mobile banking include a view of up-to-date transactions, fund transfers, or remote check deposits. Overdraft Fee correct answerFee charged when an account does ...

Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? A. Debt to-income ratios B. Annual gross income C. Savings D. Options A, B, C E. None of the above D. Options A, B, and C A person or company that makes loans for real estate purchases. "Loan officer" is a related term that refers to a representative of a lending or mortgage company who is responsible for soliciting homebuyers and for qualifying and proce...

All of the following would help a counselor develop a realistic household budget, except: A. Payment information for a paid-off car B. Amount spent on groceries C. Rent payment information D. Monthly cable bill A. Payment information for a paid-off car All of the following are reasons why it is important for a client to track income and expenses before finalizing a budget, except: A. It helps show clients that they actually spend less on some expenses than they think. B. It helps id...

Jake has a session with a new client, Ruth, later that day. She has received notice that her apartment complex, which offers her project-based housing assistance, will be sold to a new management company in six months. The new company will renovate the building and will no longer participate in the project-based assistance program. To help Ruth find another affordable rental option, Jake should take all of the following steps, except: A. Provide Ruth with contact information for local housing a...

HECM EXAM QUESTIONS AND ANSWERS LATEST 2024 (142 QUESTIONS). A Counseling Agency's failure to follow all basic requirements required by HUD could result in which of the following: A. Termination of agency's HUD approval B. Suspension of agency's HUD approval C. Forfeiture of remaining federal grant funds D. Fines and or imprisonment E. a , b , and c F. all of the above - ANSWER- E. Termination of agency's HUD approval Suspension of agency's HUD approval Forfeiture of remaining fe...

Jake has a session with a new client, Ruth, later that day. She has received notice that her apartment complex, which offers her project-based housing assistance, will be sold to a new management company in six months. The new company will renovate the building and will no longer participate in the project-based assistance program. To help Ruth find another affordable rental option, Jake should take all of the following steps, except: A. Provide Ruth with contact information for local housing a...

Which describes the legally enforceable terms that govern the use of real estate? A. Residential security restrictions B. Deed restrictions C. Redlined Maps Government-sponsored deeds B. Deed Restrictions -Deed restrictions are legally enforceable terms that govern the use of real estate. Deed restrictions that discriminate based on any of the seven prohibited bases for discrimination are illegal and unenforceable. Which is the practice of refusing to make residential loans or impos...