Hud exam prep 2023 - Study guides, Class notes & Summaries

SAFE MLO Exam Prep Questions and Answers 2023/2024 updated version Lender has to retain CD and LE for how long? - ANSWER-5 years Lender has to retain Partial Payment Policy for how long? - ANSWER-5 years Lender has to retain Escrow Cancellation Notice for how long? - ANSWER-5 years TILA Disclosure, Loan Estimate, Good Faith Estimate, HUD-1; which is NOT delivered to a reverse mortgage applicant? - ANSWER-Loan Estimate How many hours of CE required? - ANSWER-8 hours Maximum # of consecutiv...

% Impact of Account Payment History on Credit Score - Answer- 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 - Answer- 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 - Answer- 15% portion of score based don the overall length of credit history in the re...

PSI Broker Exam Prep, Questions and answers, 2022/2023. Rated A Document Content and Description Below PSI Broker Exam Prep, Questions and answers, 2022/2023. Rated A A buyer has the right to buy a property at an agreed-upon price within the next six months. This is a(n) - an option A lea sehold estate that does NOT require notice to terminate is called a(n) - an estate for years The broker and the seller both know that the foundation of the seller's house is unsafe. If they do not inform the...

HUD Exam Prep (verified)2023Conventional Loan Front end 28% Back end 36% can go up to 45% to 50%(debt to income), backed by private lenders. AKA prime loans. Good credit, 20% down payment. May have interest only terms FHA Front end 31% Back end 43% Limited funds, bad credit, bankruptcy, high debt to income ratio. EEM (Energy) FHA Front end 33% Back end 45% VA 41% USDA Front End 29% Back End 41%, low-to-moderate income, must live rural area, no down payment, ...

HUD Exam Prep 2023 Solved correctly % 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...

HUD Exam Prep 2023 Solved correctly % 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...

HUD Exam Prep 2023/2024

HUD Exam Prep 2023 Solved And Graded A+ 1. Conventional Loan: Front end 28%/Back end 36% can go up to 43% (debt to income), min 3% DP, $548,250 max loan, PMI if LTV > 80%, Good credit: 640 FICO, May have interest only terms 2. FHA: Front end 31%/Back end 43%, min DP 3.5%, seller concessions 6% max, bad credit, bankruptcy: 2 years Ch 7 & 1 year filing Ch 13, MIP, 580 min score, assumable loan, 115% median house value 3. EEM (Energy) FHA: Front end 33% Back end 45% 4. VA: 41%, no m...

HUD Exam Prep 100% SOLUTION 2023//2024 % Impact of Account Payment History on Credit Score - ANSWER 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 - ANSWER 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 - ANSWER 15% portion of score based don the over...

HUD Exam Prep 2023 Solved And Graded A+