Lrpu Combined Test On Daily Error Markdowns

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| By Santoshc

Santoshc

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Quizzes Created: 3 | Total Attempts: 525

Questions: 28 | Attempts: 129 | Updated: Mar 21, 2023

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Current Version
Mar 21, 2023

Quiz Edited by
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Jul 15, 2015

Quiz Created by
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Lrpu Combined Test On Daily Error Markdowns

U/W’s are not supposed to trigger MODPC comment if loan is getting denied for H2DNY8H?

U/W’s needs to pull a credit report and check for Occupancy if investor rule states “Property Should be Owner Occupied” even though we have sufficient income documents matching property address in CIS?

U/W’s can place a deny comment under MODQRS even though internal values are missing on the denial H2DNY4E (Second Home)?

U/W’s can accept SSI award letter without borrower name and SSN?

Borrower has provided SSI bank statements and award letter for SS income, however the same income is not mentioned under financial form. What action needs to be taken in this scenario?

Signature is not mandatory on 8879?

SAM denials are mandatory on all the loans which are getting denied for HAMP and NONHAMP?

U/W’s can accept 4506T which is altered if brw only source of income is wage income?

U/W’s can consider DPGDI comment for any sort of income clarification for brw/Co brw?

U/W’s should request for 2014 tax returns even it is an ongoing application?

U/W’s can accept Sch-E even if tax return has not signed?

Signature is mandatory on P&L even if it is negative if P&L is received in the printed format?

SSN on Sec 2 is not mandatory on Estate Loans?

Received application on 05/15/2015 in which borrower has mentioned wage income and we have received proof accordingly, however received 2013 tax returns reflects positive business income what action needs to be taken in this scenario.

Borrower has checked on hardship resolved along with that brw has checked on hardship reasons what action needs to be taken in this scenario.

We have received only Non brw authorization letter for Non brw however as per hamp form no where brw has mentioned about Non brw contribution what action needs to be taken in this scenario.

U/W’s can accept “Month to Month” rental agreement even the rental agreements has expired?

What is the prime condition U/W should select if Sec 15 (Acknowledgement page) has not signed by brw/Co brw?

If any document is missing in CIS we should search the document by Document type in CIS?

Statement of intension is mandatory on every loan?

Brw/Co brw has mentioned income as Zero and mentioned hardship reason as unemployed what action needs to be taken in this scenario?

U/W’s should consider rental income from Sch –E for calculation even the amount is not matching with rental agreement, receipts and financial form?

U/W’s can accept P&L statement which is more than 12months?

U/W’s can accept Sec 6 mentioned with only expenses information?

U/W’s can accept P&L signed by third party, if P&L is received in the printed format?

Income calculation is mandatory on loan which is getting denied for HDENY51/H2DNY51?

While working on 2^nd lien loan if days due is less than 30, U/W’s should consider 1^st lien mortgage from related loan?

We need to update deny comment under MODQRS even though the internal values are missing on the denials HDENY51/H2DNY51?

Lrpu Combined Test On Daily Error Markdowns

U/W’s are not supposed to trigger MODPC comment if loan is getting denied for H2DNY8H?

U/W’s needs to pull a credit report and check for Occupancy if investor rule states “Property Should be Owner Occupied” even though we have sufficient income documents matching property address in CIS?

U/W’s can place a deny comment under MODQRS even though internal values are missing on the denial H2DNY4E (Second Home)?

U/W’s can accept SSI award letter without borrower name and SSN?

Borrower has provided SSI bank statements and award letter for SS income, however the same income is not mentioned under financial form. What action needs to be taken in this scenario?

Signature is not mandatory on 8879?

SAM denials are mandatory on all the loans which are getting denied for HAMP and NONHAMP?

U/W’s can accept 4506T which is altered if brw only source of income is wage income?

U/W’s can consider DPGDI comment for any sort of income clarification for brw/Co brw?

U/W’s should request for 2014 tax returns even it is an ongoing application?

U/W’s can accept Sch-E even if tax return has not signed?

Signature is mandatory on P&L even if it is negative if P&L is received in the printed format?

SSN on Sec 2 is not mandatory on Estate Loans?

Received application on 05/15/2015 in which borrower has mentioned wage income and we have received proof accordingly, however received 2013 tax returns reflects positive business income what action needs to be taken in this scenario.

Borrower has checked on hardship resolved along with that brw has checked on hardship reasons what action needs to be taken in this scenario.

We have received only Non brw authorization letter for Non brw however as per hamp form no where brw has mentioned about Non brw contribution what action needs to be taken in this scenario.

U/W’s can accept “Month to Month” rental agreement even the rental agreements has expired?

What is the prime condition U/W should select if Sec 15 (Acknowledgement page) has not signed by brw/Co brw?

If any document is missing in CIS we should search the document by Document type in CIS?

Statement of intension is mandatory on every loan?

Brw/Co brw has mentioned income as Zero and mentioned hardship reason as unemployed what action needs to be taken in this scenario?

U/W’s should consider rental income from Sch –E for calculation even the amount is not matching with rental agreement, receipts and financial form?

U/W’s can accept P&L statement which is more than 12months?

U/W’s can accept Sec 6 mentioned with only expenses information?

U/W’s can accept P&L signed by third party, if P&L is received in the printed format?

Income calculation is mandatory on loan which is getting denied for HDENY51/H2DNY51?

While working on 2nd lien loan if days due is less than 30, U/W’s should consider 1st lien mortgage from related loan?

We need to update deny comment under MODQRS even though the internal values are missing on the denials HDENY51/H2DNY51?

While working on 2^nd lien loan if days due is less than 30, U/W’s should consider 1^st lien mortgage from related loan?