Hud 2022 practice exam Study guides, Class notes & Summaries

HUD 2022 Practice Exam Questions and Answers 2024

HUD 2022 Practice Exam Questions and Complete Solutions Graded A+

MD Real Estate PSI exam (2022/2023) Already Passed home equity loan A loan under which a property owner uses the property as collateral and can then draw funds up to a prearranged amount against the property. Also called a home equity line of credit, or HELOC. home inspection A thorough visual survey of a property's structure, systems, and site conditions conducted by a professional. Home Mortgage Disclosure Act A federal law, implemented at its creation by Regulation C of the Federal Reserve...

PSI Real Estate Exam: Practice of Real Estate (2022/2023) Graded A Annual Percentage Rate (APR) The total cost of financing a loan in percentage terms, as a relationship of the total finance charges to the total amount financed. Blockbusting The illegal practice of inducing owners to sell their homes (often at a deflated price) by suggesting that the ethnic or racial composition of the neighborhood is changing, with the implication that property values will decline as a result. Also called pani...

NMLS Questions and Answers Latest Updated 2022 Graded A Document Content and Description Below NMLS Questions and Answers Latest Updated 2022 Graded A Acceleration Clause Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lendin g) Alienation Clause (Due on Sale Clause) Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC home valuation code of c...

NMLS Questions with accurate answers, 2022/2023 updates, Graded A. Document Content and Description Below NMLS Questions with accurate answers, 2022/2023 updates, Graded A. Acceleration Clause - Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed a s predatory lending) Alienation Clause (Due on Sale Clause) - Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVC...

National PSI EXAM PRACTICE TEST, Questions with answers, 2022/2023 Document Content and Description Below National PSI EXAM PRACTICE TEST, Questions with answers, 2022/2023 Real Estate law governing advertising applies to all of these EXCEPT: A. In house notes for showing B. Multiple listing servi ce (MLS) C. communications with consumers D. Social Media - A. In-house notes for showing are not seen by consumers an so do not have to follow state or federal laws. A couple accompanies a property ...

PSI NJ Real Estate Exam, PSI Practice Test, Complete Correct answers 2022. Water Rights The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is an agent to the broker and a subagent to the principal. Depreciation is calculated based on the Cost of the building only. When a property owner uses his home as collateral for a loan and creates a lien in favor of the lender...

PSI NJ Real Estate Exam, PSI Practice Test, Complete Correct answers 2022. Water Rights The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is an agent to the broker and a subagent to the principal. Depreciation is calculated based on the Cost of the building only. When a property owner uses his home as collateral for a loan and creates a lien in favor of the lender...

NMLs Practice Exam Questions with accurate answers, Graded A. 2022/2023. Document Content and Description Below NMLs Practice Exam Questions with accurate answers, Graded A. 2022/2023. A person wanting a loan originator license in four states - must pass the state component of the license test in eac h state. The correct answer is B. A person can be licensed in all of the states, provided he is employed by the same employer in all the state. His NMLS-approved education need only be taken once....