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Exam (elaborations)

NMLS Practice Test questions with correct answers

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1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days Answer •90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance Answer cost of fund index 3) Subordinate financing relates to •seller financing. •second mortgages. •financing in the secondary mortgage market. •subprime loans. Answer second mortgage 4) Explain what Investors with non-recourse loans mean? •Borrower does not have any recourse on default •Borrower doesn't occupy the property

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Uploaded on
July 19, 2023
Number of pages
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Written in
2022/2023
Type
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  • nmls practice test questions with correct answers
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