Subprime Study guides, Revision notes & Summaries

Nebraska The mortgage loan originator employees in this scenario were required to be licensed under the: - correct answer NOT Residential Lender and Loan Originator Act After license revocation in Nebraska, a licensee will be: - correct answer Unable to obtain a license in other states In this scenario, the mortgage company committed several violations, including which of the following related to fees? - correct answer Paying commissions to unlicensed individuals In this scenario, the ...

ETA CPP EXAM QUESTIONS AND ANSWERS LATEST RATED A+. What data elements are MOST critical to the payments professional when comparing a merchant's current statement to the new offer proposed by the payment professional? - ANSWER Volume, average ticket, rate, and transaction fee Using the interchange plus model, which of the following costs can be adjusted during negotiations with the merchant? - ANSWER Acquirer markup For most credit card transactions, what is the MAXIMUM numbers of days b...

Minnesota Exam Prep Questions and Answers Rated A+ The state agency responsible for the business activities of Minnesota mortgage professionals Minnesota Department of Commerce Office that the Minnesota Dept of Commerce is located within Secretary of State With the passing of the SAFE Act DOC shares mortgage lending Licensing authority with whom? NMLS Who is the NMLS operated by State Regulatory Registry, LLC Who heads the DOC? Commissioner Regulates the activities of mort...

The following contributed to the increase in foreclosure rates, except: A. Subprime lending B. Risky loan products with feature like negative amortization C. Demand from the secondary market D. Homeowners paying off mortgages early E. Using teaser rates to qualify more borrowers. - D. Homeowners paying off mortgages early. Making Home Affordable was created in order: A. To make it easier for borrowers to understand loan terms, to require homeownership counseling for some mortgages, and t...

What type of insurance protects the business if it is unable to produce income due to a covered event? (Ans-Business interruption (Business interruption insurance protects against loss of income when a business is unable to produce due to a covered event.) Colleen and Judy purchased a dilapidated townhome in an estate sale. Due to their fix-up work and the current economy, the property value has skyrocketed. They decide to sell it to get their equity out of it. After they list it, a wom...

ETA CPP EXAM QUESTIONS AND ANSWERS LATEST RATED A+ . What data elements are MOST critical to the payments professional when comparing a merchant's current statement to the new offer proposed by the payment professional? - ANSWER Volume, average ticket, rate, and transaction fee Using the interchange plus model, which of the following costs can be adjusted during negotiations with the merchant? - ANSWER Acquirer markup For most credit card transactions, what is the MAXIMUM numbers of days ...

NMLS Review Practice Exam Questions 2024. 1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days - correct answer •90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance - correct answer cost of fund index 3) Subordinate financing relates to •seller financing. •second mortgages. •financing in the secondary mortgage market. •subprime loans. - correct...

NMLS Test Questions and Answers Graded A+ What is the pass rate for the NMLS Test and how long is it? 75% of 115 questions, 125 questions long with 10 ungraded What is the biggest thing to remember about taking the test? Read the questions twice, slowly, but do not take over 30 seconds per question the first time through. Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:13 / 0:15 Full screen What is the requirement under Fa...

NMLS Practice Test Questions and Answers Rated A 1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days •90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance cost of fund index 3) Subordinate financing relates to •seller financing. •second mortgages. •financing in the secondary mortgage market. •subprime loans. second mortgage 4) Explain what Investors ...

The following contributed to the increase in foreclosure rates, except: A. Subprime lending B. Risky loan products with feature like negative amortization C. Demand from the secondary market D. Homeowners paying off mortgages early E. Using teaser rates to qualify more borrowers. - ANSWER D. Homeowners paying off mortgages early. Making Home Affordable was created in order: A. To make it easier for borrowers to understand loan terms, to require homeownership counseling for some mortgag...