Hud exam financial - Study guides, Class notes & Summaries

HUD EXAM - FINANCIAL MANAGEMENT EXAM PREVIEW

HUD Exam - Financial Management Questions and Answers 100% Pass All of the following would help a counselor develop a realistic household budget, except: A. Payment information for a paid-off car B. Amount spent on groceries C. Rent payment information D. Monthly cable bill - Correct Answer ️️ -Answer: A Since the car is paid off, the expense does not need to be included in the new budget. All of the following are reasons why it is important for a client to track income and expense...

HECM Test Exam Questions And Revised Correct Answers 2024 A borrower got her HECM loan many years ago when the lending limit for her county was $600,000. Her home is appraised for $800,000. What is the most her repayment of the loan could be? A. $600,000 B. $800,000 C. 75% of appraised value D. Net proceeds from selling the home - ANSWERS D A borrower has a $200,000 home value. What is the likely upfront cost added to the loan balance at closing? (Revisit. Where is the formula?) A...

NMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATENMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATENMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATENMLS EXAM 1 QUESTIONS AND ANSWERS 100% ACCURATE 1) Mortgage loan fraud is reported at what level? A. State B. Federal C. County D. City - ANSWER-B. Mortgage Fraud is reported to the FBI and to HUD ( The United States Department of Housing and Urban Development is a Cabinet department in the executive branch of the U.S. federal government) 2) Titl...

NMLS S.A.F.E Exam Practice Questions Enhancing protection and reducing fraud by directing states to adopt minimum uniform standards for the licensing and registration of residential mortgage loan originators was the purpose of the federal act known as the: a. S.A.F.E. Act b. Federal Trade Act c. Consumer Financial Protection Act d. Dodd-Frank Act - a. S.A.F.E. Act Loan processors and underwriters may not: a. Communicate with consumers to obtain information necessary for loan pro...

EXAM TEST FOR NATIONAL USPAP 2023/2024 QUESTIONS & ANSWER Which board within The Appraisal Foundation has the authority to make revisions to USPAP? Board of Trustees (BOT) Appraisal Standards Board (ASB) Appraiser Qualifications Board (AQB) All boards within the Foundation have the authority to revise USPAP - CORRECT ANSWER-Appraisal Standards Board (ASB) The three independent boards within The Appraisal Foundation include: Appraisal Standards Board, Appraisal Subcommittee, Federal ...

NMLS SAFE EXAM Questions And Answers (Verified And Updated) Where credit institutions originate loans - answerPrimary Mortgage Market When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over the life of the loan D. The rate maximum the rate can decrease over the life of the loan - answerC. The maximum the rate can increase over the life of the loan When utiliz...

HECM Test Exam Questions And Revised Correct Answers updated A Counseling Agency's failure to follow all basic requirements required by HUD could result in which of the following: A. Termination of agency's HUD approval B. Suspension of agency's HUD approval C. Forfeiture of remaining federal grant funds D. Fines and or imprisonment E. a , b , and c F. all of the above - ANSWERS E. Termination of agency's HUD approval Suspension of agency's HUD approval Forfeiture of remaining ...

The SAFE Mortgage Loan Originator National Exam Study Guide practice Exam 2 Questions With 100% Correct Answers 1. Which of the following is NOT a loan origination activity? - answerC. Assisting in a loan modification 2. A unilateral contract is binding on: - answerA. One party 3. Loan originator organizations must keep compensation records for how many years? - answerC. Three 4. Mortgage companies must submit a residential loan origination activity report to the NMLSR every: - answerB....

If the base side of a triangular plot measures 45' and the height line measures 12', what is the area of the plot in square feet?([b x h] x ½ = A) - correct answer-270 square feet An applicant is allowed to use what electronic devices during the real estate exam? - correct answer-Hand-held calculator Convert the following fraction to a decimal for ease of computation: 31/25 - correct answer-1.24 What is the general formula to determine Capital Gain? - correct answer-Profit from Sale ...