What is a refi loan - Study guides, Class notes & Summaries

NMLS SAFE EXAM 2024 Questions With Verified Answers What does TILA stand for? - answerTruth-In-Lending Act, Regulation Z What is a HELOC loan? - answera secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - answer LTV stands for - answerLoan to Value Define PMI and state what the acronym stands for. - answerPrivate mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is i...

Types of Credit Used - ANSWER Student loan or credit cards only FAKO scores - ANSWER purchase score which are educational score Fair Credit Reporting Act FCRA - ANSWER what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA - ANSWER free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) - ANSWER dispute bill error/mail 60 days/creditor 30 days acknowledge and 90 d...

What does TILA stand for? - correct answer Truth-In-Lending Act, Regulation Z What is a HELOC loan? - correct answer a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - correct answer LTV stands for - correct answer Loan to Value Define PMI and state what the acronym stands for. - correct answer Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it...

NMLS SAFE EXAM 2024 Questions With Verified Answers What does TILA stand for? - answerTruth-In-Lending Act, Regulation Z What is a HELOC loan? - answera secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - answer LTV stands for - answerLoan to Value Define PMI and state what the acronym stands for. - answerPrivate mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is i...

Types of Credit Used - Answer Student loan or credit cards only FAKO scores - Answer purchase score which are educational score Fair Credit Reporting Act FCRA - Answer what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA - Answer free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) - Answer dispute bill error/mail 60 days/creditor 30 days ackno...

NMLS SAFE EXAM WITH COMPLETE SOLUTIONS NMLS SAFE EXAM WITH COMPLETE SOLUTIONS NMLS SAFE EXAM WITH COMPLETE SOLUTIONS What does TILA stand for? - ANSWER-Truth-In-Lending Act, Regulation Z What is a HELOC loan? - ANSWER-a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - ANSWER- LTV stands for - ANSWER-Loan to Value Define PMI and state what the acronym stands for. - ANSWER-Private mortgage insurance- on conve...

The rate lock period for a refi, with a right of rescission, must be long enough to cover the rescission period. correct answer: True How long does a borrower have to wait to buy a home after they have had a foreclosure? FHA correct answer: 3 years What are the steps you should follow to determine the correct MI? correct answer: LTV, term, product type, occupancy type and coverage. Typically, files that have to be manually underwritten are subject to less strict guidelines. correct a...

What does TILA stand for? - correct answerTruth-In-Lending Act, Regulation Z What is a HELOC loan? - correct answera secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - correct answer LTV stands for - correct answerLoan to Value Define PMI and state what the acronym stands for. - correct answerPrivate mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waiv...

XINNIX FLIGHT SCHOOL EXAM QUESTIONS AND ANSWERS The rate lock period for a refi, with a right of rescission, must be long enough to cover the rescission period. - Answer- True How long does a borrower have to wait to buy a home after they have had a foreclosure? FHA - Answer- 3 years What are the steps you should follow to determine the correct MI? - Answer- LTV, term, product type, occupancy type and coverage. Typically, files that have to be manually underwritten are subject to less st...

What does TILA stand for? - correct answerTruth-In-Lending Act, Regulation Z What is a HELOC loan? - correct answera secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - correct answer LTV stands for - correct answerLoan to Value Define PMI and state what the acronym stands for. - correct answerPrivate mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waiv...