Nv Fnma Restriction Procedure Q2 2010

1. WHAT DOES FNMA MEAN?

FRANK NANCY MARY AND ALAN

FIRST NATIONAL MORTGAGE ASSOCIATION

FEDERAL NATIONAL MORTGAGE ASSOCIATION

NONE OF THE ABOVE

About This Quiz

Nv Fnma Restriction Procedure Q2 2010 - Quiz

Restrictions in the Deed

2. What's your name?

We’ll put your name on your report, certificate, and leaderboard.

2. DO YOU NEED TO GO BEHIND THE BASE TO LOOK FOR ANY FNMA DEEDS IF YOUR BASE IS MORE RECENT THAN APRIL 15, 2008?

YES

3. THIS PROCEDURE IS ONLY IN REGARDS TO RESIDENTIAL PROPERTIES?

TRUE

FALSE

4. DEED FROM FNMA CONTAINS RESTRICTIONS AND A NEW LOAN HAS RECORDED DURING THE TERM OF THE RESTRICTIONS BUT NOT CONCURRENTLY WITH FNMA DEED. WHAT DO YOU LOOK FOR:

IF FA LENDERS POLICY..FOLLOW 3.0

IF NEW LOAN IS RELEASED..FOLLOW 3.0

IF A AND B ARE NOT THE CASE FOLLOW 3.0 AND SHOW POSSIBLE VIOLATION OF THE RESTRICTIONS.

ALL OF THE ABOVE

5. IF BASE INCLUDES EXCEPTION READING "TERMS AND PROVISIONS CONTAINED IN THE DEED FROM FEDERAL NATIONAL MORTGAGE ASSOCIATION".....YOU NEED TO PULL THIS DEED AND LOOK FOR WHAT?

RESTRICTIONS

TIME FRAMES OF THE RESTRICTIONS

NONE OF THE ABOVE

A and B Above