January Images Quiz PKT 1

10 Questions | By Catherine Halcomb | Updated: Mar 20, 2022 | Attempts: 144

Questions

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Questions and Answers

1.

What is a document signed by a lender indicating the amount required to pay a loan balance in full and satisfy the debt; used in the settlement process to protect both the seller’s and the buyers interest?
- A.
  
  Satisfactions
- B.
  
  Payoff Documents
- C.
  
  Debt Validation
- D.
  
  Settlement Statement
Correct Answer
B. Payoff Documents
2.

Classify this image.
- A.
  
  Collateral Miscellaneous
- B.
  
  Loan Documents
- C.
  
  Checklist
- D.
  
  Closing Documents
Correct Answer
D. Closing Documents
3.

Classify this image.
- A.
  
  Loan Documents
- B.
  
  Images to be Deleted
- C.
  
  Collateral Miscellaneous
- D.
  
  Settlement Statement
Correct Answer
D. Settlement Statement
4.

Classify this image.
- A.
  
  Lock Confirmation
- B.
  
  Disclosure Documents
- C.
  
  ARM Documents
- D.
  
  ARM Rider
Correct Answer
A. Lock Confirmation
5.

Classify this image.
- A.
  
  Borrower Authorization
- B.
  
  Insurance
- C.
  
  Hazard Insurance
- D.
  
  Authorization others
Correct Answer
A. Borrower Authorization
6.

What is the classification of Modified Plan for Bankruptcy?
- A.
  
  Bankruptcy Miscellaneous
- B.
  
  Bankruptcy Plan
- C.
  
  Bankruptcy Amendments
- D.
  
  Bankruptcy Notifications
Correct Answer
C. Bankruptcy Amendments
7.

Classify this image.
- A.
  
  Loan Servicing Documents
- B.
  
  Shipment Info
- C.
  
  Cover Sheet
- D.
  
  Loan Documents
Correct Answer
A. Loan Servicing Documents
8.

Classify this image.
- A.
  
  Settlement Statement
- B.
  
  Broker Documents
- C.
  
  Underwriting Documents
- D.
  
  Truth in Lending
Correct Answer
B. Broker Documents
9.

Classify this image
- A.
  
  Attorney Correspondence
- B.
  
  Attorney Consent form
- C.
  
  Correspondence Miscellaneous
- D.
  
  Borrower correspondence
Correct Answer
A. Attorney Correspondence
10.

Classify this image.
- A.
  
  Privacy Policy
- B.
  
  Title Commitment
- C.
  
  Title Report
- D.
  
  Default Correspondence
Correct Answer
A. Privacy Policy