Dti total debt to income - Study guides, Class notes & Summaries

Rental Obstacle + Solutions: Low Income - -Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - Prioritize "needs over "wants" -reduce or eliminate "wants" -cancel or downgrade services(e.g. cable, telephone) -limit miscellaneous spending - stick to a shopping list - pay off a loan or credit card - move...

1. How many times may a licensing candidate take the NMLS national examination before having to wait six months to retake it? - ANSWER-Answer: b) Candidates who fail the exam must wait 30 days between each subsequent attempt. After failing the exam a third time, the waiting period increases to six months. 2. Which of the following loan originator license applications would automatically be declined? - ANSWER-Answer: b) The SAFE Act prohibits an individual from obtaining a mortgage loan origin...

Abstract of title (Title Report) - ANSWER-A written history of all the transactions related to the title for a specific tract of land. This will include a history of all liens, judgements, easements and covenants on the property Abusive - ANSWER-Under the Dodd-Frank Act, this is act of a Loan Originator taking advantage of the borrower's lack of knowledge in the mortgage process. Accrued Interest - ANSWER-This is the interest that is charged over the course of the payment period. Addit...

What law deals with credit, APR & advertising of consumer loans? TILA/REGULATION Z Which regulation prohibits kickbacks? RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? HPA - Homeowners Protection Act Which regulation prohibits fee splitting? RESPA Regulation X is the letter used to describe which Law? RESPA RESPA is the acronym used to describe which law? Real Estate Settlement Procedures Act What type of m...

What law deals with credit, APR & advertising of consumer loans? TILA/REGULATION Z Which regulation prohibits kickbacks? RESPA Which regulations requires the lender to cancel PMI when the loan reaches 78% LTV? HPA - Homeowners Protection Act Which regulation prohibits fee splitting? RESPA Regulation X is the letter used to describe which Law? RESPA RESPA is the acronym used to describe which law? Real Estate Settlement Procedures Act What type of m...