What does fnma stand for - Study guides, Class notes & Summaries

SOMB II Practice Test | questions and answers with complete solution When refinances as a percentage of total originations rise, does profitability at large banks tend to rise or to fall? - Fall What are the top three Mortgage lender's main sources of income? - - Fees negotiated at origination - Gain on sale - Interest Income Interest income earned at the note rate from the date a loan closes until it is sold belongs to? - The lender Which type of loan sale generates the most revenue...

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...

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...

Series 79 - Order the following in terms of credit risk: 1. GSEs 2. Gov't Agency MBS / Treasury securities 3. Private label MBS - correct answer 1. Gov't Agency MBS / Treasury Securities - backed by the full faith and credit of the US gov 2. GSEs (Fannie, FNMA and Freddie, FHLMC) - not backed by the full faith and credit of the US gov but have special authority to borrow from the US Treasury, an implied guarantee 3. Private label MBS - have no government backing Ginnie Mae - correct ...

XINNIX Mortgage Basix Verified Questions And Answers With Complete Tests XINNIX Mortgage Basix Verified Questions And Answers With Complete Tests

MLO SAFE NMLS Safe Test Practice Questions And Answers (Verified And Updated) Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - answerPredatory Lending. RESPA-Real Estate Settlement Procedures Act - answerThe Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - a...

A __________ is a permanent change in one or more of the terms of a borrower's loan. Loan Qualification Loan Modification Loan Approval Loan Origination - ANSWER-Loan Modification What time period must borrowers have in job history with the same employer to qualify? 2 months 6 months 1 year 2 years - ANSWER-2 years Unscrupulous actions carried out by a lender to entice, induce and/or assist a borrower in taking a mortgage that carries high fees, a high interest rate, s...

Mortage Basix questions and answers latest top score. What does FNMA stand for? - correct answers.Federal National Mortgage Association What does FHLMC stand for? - correct answers.Federal Home Loan Mortgage Corporation What does AU stand for, and what is it? - correct answers.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 FH...

Xinnix Final Questions with correct Answers A veteran has the ability to transfer a portion of their entitlement to another veteran. False 1. Gross rent may be considered effective income when an applicant is planning to rent their current residence after closing on the purchase of their new home. False Based on the following scenario, does the borrower qualify within FNMA guidelines? PITI: $1,725 monthly Income: $7,000 Debt: $700 car payment, $375 student loan ($2,250 bala...

Xinnix Ground School Questions with correct Answers Flipping is a scheme where several people each purchase a property within the neighborhood and then sell the properties to one another, inflating the price of the home with each sale. False YTD paystubs will be requires from a borrower that is self-employed (schedule C) False A borrower requesting a jumbo loan will qualify for an agency loan False Trailing spouse income can be used for qualifying purposes. False ...