Fannie mae a - Study guides, Class notes & Summaries

National USPAP Course Question and answers verified to pass National USPAP Course The Appraisal Foundation has the authority to enforce the requirements of USPAP. True False - correct answer False Currently, the boards within The Appraisal Foundation include: a.) Board of Trustees, Federal Housing Administration, Fannie Mae b.) Board of Trustees, Appraisal Standards Board, Appraisal Subcommittee c.) Appraisal Standards Board, Appraiser Qualifications Board, Board of Trustees d.) A...

McKissock - Basic Appraisal Principles- GA Ch.11 Questions and Answers Graded A+ The principal operators in the secondary mortgage market include pension funds, insurance companies, corporate investors Fannie Mae, Freddie Mac, Ginnie Mae Fannie Mae, Sallie Mae, Ginnie Mae FHA, VA, USDA Fannie Mae, Freddie Mac, Ginnie Mae True or False? Fannie Mae and Freddie Mac are now defunct. false 0:03 / 0:15 Fannie Mae purchases ______ loans on the secondary market. conventional ...

An appraiser paid a referral fee in conjunction with an assignment. Which statement is TRUE regarding this situation, according to USPAP? - correct answer-The appraiser must disclose that a fee was paid, but does not have to disclose the amount paid. An appraiser finds out after completing an appraisal that the lender/client's loan did not close. What should the appraiser do regarding the appraisal fee? - correct answer-Charge the agreed-upon fee regardless of whether the loan closed An a...

Practice NMLS Test - 20 Hour Safe Correctly Answered 2024. An application must be accompanied by fingerprints when applying for a. Licensed MLO b. Registered MLO c. not required d. required for both licensed and registered MLO - correct answer d Quarterly mortgage call reports must be filed a. within 30 days of the end of the calendar quarter b. within 30 days of the end of the fiscal quarter c. within 45 days of the end of the calendar quarter d. within 45 days of the end of the...

Xinnix SOAR Final Questions and Answers Already Passed FNMA and FHLMC are what type of loan? - Answer ️️ -conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - Answer ️️ -true conventional loans are not insured by the federal government - Answer ️️ -true Agency loans include FHA and VA loans - Answer ️️ -true the proceeds of a loan for cash out refinance may be ...

A borrower received $1,000 per month in rental income. How much of the income may be used to qualify the borrower for a loan? A. $1,000 B. $800 C. $750 D. $1,250 - ANSWERC. $750 Generally, 75% of rental income may be used to qualify a borrower for a loan. This formula is based on an industry standard that taxes, insurance, and maintenance costs will equal about 25% of the income that a property generates. In this case, 75% x $1,000 = $750. What is Freddie Mac's automated underwrit...

Xinnix SOAR Final Exam Questions and Answers 100% Pass FNMA and FHLMC are what type of loan? - Answer- conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - Answer- true conventional loans are not insured by the federal government - Answer- true Agency loans include FHA and VA loans - Answer- true the proceeds of a loan for cash out refinance may be used by the borrower to in...

Practice NMLS Test - 20 Hour Safe Questions and Answers 100% Correct Practice NMLS Test - 20 Hour Safe Questions and Answers 100% Correct Practice NMLS Test - 20 Hour Safe Questions and Answers 100% Correct An application must be accompanied by fingerprints when applying for a. Licensed MLO b. Registered MLO c. not required d. required for both licensed and registered MLO - ANSWER-d Quarterly mortgage call reports must be filed a. within 30 days of the end of the calenda...

An Approve/Eligible determination: 1. Is an indication that a property appraised for its sales price 2. Authorization to release funds in a refinance transaction 3. An automated loan approval from the Fannie Mae Du system 4. A recommendation that is received by the Freddie Mac loan prospector automated underwriting system. - 3. An automated loan approval from the Fannie Mae Du system.. this means that the borrower meets the credit requirements and all other loan factors are acceptable. The...

This form of occupancy would have the lowest interest based on risk - owner-occupied This form of occupancy would have the highest interest based on risk - non-owner occupied Characterized by ownership extending only to the interior dwelling and the shared ownership of common external areas by residents - Condominium Conforming mortgage limit for a single-family residence in most states is: - $484,350 The following entities buy or guarantee loans secured by real estate on the secondary mark...