What is a refi loan - Study guides, Class notes & Summaries

XINNIX Mortage Basix Exam Questions and Answers 100% Pass What does FNMA stand for? - Answer- Federal National Mortgage Association What does FHLMC stand for? - Answer- Federal Home Loan Mortgage Corporation What does AU stand for, and what is it? - Answer- Automated Underwriting, a computerized system that uses historical statistics to issue a decision of how to proceed with a loan request. The Purposes of Property acceptable for FNMA and FHLMC include: - Answer- Primary Residence, Seco...

NMLS Test Outline Questions and Answers Already Passed RESPA disclosures? due dates? 3 days after application: Home loan tool kit Loan estimate List of HUD counselors Mortgage Servicing Disclosure Statement Know before you owe booklet Special Info Booklet 3 days before consummation: Initial Closing Disclosure AfBA disclosure At consummation: Final Closing Disclosure Initial Escrow Statement (45 days after closing) After closing: Annual Escrow Statement Servicing Transfer Stat...

NMLS Test Outline Exam Questions With Answers RESPA disclosures? due dates? - ANS 3 days after application: Home loan tool kit Loan estimate List of HUD counselors Mortgage Servicing Disclosure Statement Know before you owe booklet Special Info Booklet 3 days before consummation: Initial Closing Disclosure AfBA disclosure At consummation: Final Closing Disclosure Initial Escrow Statement (45 days after closing) After closing: Annual Escrow Statement Servicing Transfer ...

NMLS SAFE EXAM 2022 What does TILA stand for? - ANSWER-Truth-In-Lending Act, Regulation Z What is a HELOC loan? - ANSWER-a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - ANSWER- LTV stands for - ANSWER-Loan to Value Define PMI and state what the acronym stands for. - ANSWER-Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - ...

Types of Credit Used - ANSWER-Student loan or credit cards only FAKO scores - ANSWER-purchase score which are educational score Fair Credit Reporting Act FCRA - ANSWER-what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA - ANSWER-free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) - ANSWER-dispute bill error/mail 60 days/creditor 30 days acknowledge and 90 d...

Types of Credit Used Student loan or credit cards only FAKO scores purchase score which are educational score Fair Credit Reporting Act FCRA what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) dispute bill error/mail 60 days/creditor 30 days acknowledge and 90 days research. billed tim...

2024 Hud Final Exam Prep (Questions And Answers) Types of Credit Used - CORRECT ANSWER-Student loan or credit cards only FAKO scores - CORRECT ANSWER-purchase score which are educational score Fair Credit Reporting Act FCRA - CORRECT ANSWER-what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA - CORRECT ANSWER-free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA...

XINNIX Mortage Basix Exam Questions and Answers 100% Pass What does FNMA stand for? - Answer- Federal National Mortgage Association What does FHLMC stand for? - Answer- Federal Home Loan Mortgage Corporation What does AU stand for, and what is it? - Answer- Automated Underwriting, a computerized system that uses historical statistics to issue a decision of how to proceed with a loan request. The Purposes of Property acceptable for FNMA and FHLMC include: - Answer- Primary Residence, Seco...

What does TILA stand for? - Answer-Truth-In-Lending Act, Regulation Z What is a HELOC loan? - Answer-a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - Answer- LTV stands for - Answer-Loan to Value Define PMI and state what the acronym stands for. - Answer-Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - Answer-Disabled veterans ...

HUD EXAM PREP COMPLETE QUESTIONS and ANSWERS! Types of Credit Used - ANSWER Student loan or credit cards only FAKO scores - ANSWER purchase score which are educational score Fair Credit Reporting Act FCRA - ANSWER what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA - ANSWER free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) - ANSWER dispute bill error/m...