18 Questions |
By Kathleenh | Last updated: Jan 5, 2014
| Total Attempts: 95
Questions and Answers
In what section on the 1003 would you find if the borrowers plan to occupy the property as their primary residence
In what screen in PCL do you find the application received date to match to the Loan officers sign date?
What is the maximum financeable amount of units allowed on an investment property
What does URLA stand for?
What are 6 things that are listed under the borrower information section of the application that must be completed on every file?
What are three different types of properties?
What does DTI stand for?
List 3 sources in which down payment can come from
Manner in which title will be held defines what?
Define what PITI stands for.
How long of a residence history should you verify on the 1003?
What is the minimum down payment on an FHA loan?
On a Conventional loan, if the borrower is putting at least ______ % down, no mortgage insurance will be needed.
Statutory investment is also known as the ____ _________.
For employment information, the position, title, and business phone number must be present on every application.
When a loan officer does an application face to face with the applicant, they must guess as to the race/sex/ethnicity of the applicant to fill in the portion for government monitoring purposes if they don't wish to furnish the information.
The amortization type of a loan defines what?
Graduated payment mortgage
All of the above
In the employment section, how many years of employment history must be shown and verified.
Below is a Trivia Quiz on Uniform Residential Loan Application. If you are applying for a loan, you will be required to fill out different forms intended to convince the lender to disperse a certain amount of money to your...
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When the LO takes an application in person and the applicant does not provide the ethnicity, race and sex information, the LO must:
Over the last week you have been introduced to Types of Student Loans, Key Players, Life Cycle of student loan and options to successfully repay student loans.
This quiz is designed to test your knowledge...
Questions: 20 | Attempts: 532 | Last updated: Aug 28, 2014
The U.S. Department of Education makes loans through the Direct Loan Program and the ______________ Program.