HUD CERTIFICATION CERTIFIED QUALITY ACTUAL 2025/2026
QUESTIONS AND ACCURATE ANSWERS.
A client, who is the surviving spouse of a military service
member, is interested in buying a home. The client now works at
a local nonprofit agency, making $36,000 per year. The client has
$4,000 in savings and a credit score of 624.
If a client has just received a commitment from a lender to
provide a loan for a fixed loan amount based on a review of the
complete loan application package by an underwriter, in what
stage of the lending process is the client?
Loan committee review
Pre-approval
Pre-qualification
Loan application <<<ANSWERS>>>
What are key differences between pmi and mip?
Conventional loans may require mip, removed at 78% ltv. Fha
loans require pmi, removed upon fulfillment of loan terms.
Conventional loans may require pmi, removed at 78% ltv. Fha
loans require mip, removed upon fulfillment of loan terms.
Conventional loans may require mip, removed at fulfillment of
loan terms. Fha loans require pmi, removed at 78% ltv.
Conventional loans may require pmi, removed upon fulfillment of
loan terms. Fha loans require mip, removed at 78% ltv.
<<<ANSWERS>>>
A client seeking to purchase is trying to decide between an fha-
insured mortgage and another mortgage insured by private
,mortgage insurance. Which is a distinguishing difference
between these two types of mortgage insurance?
-fha-insured mortgages generally require payment of mortgage
insurance premiums, which are generally twice as expensive as
private mortgage insurance premiums for the same loan amount.
-private mortgage insurance programs generally require
payment of mortgage insurance premiums for the life of the loan.
Fha-insured mortgages may allow for the removal of this
insurance after paying down the loan to below a 78% loan-to-
value level.
-private mortgage insurance programs generally require
payment of mortgage insurance premiums, which are generally
twice as expensive as fha mortgage insurance premiums for the
same loan amount.
-fha-insured mortgages generally require payment of mortgage
insurance prem <<<ANSWERS>>>
Which borrower information is contained in the uniform
residential loan application (urla)?
Credit score
Tax information
Asset information
Education <<<ANSWERS>>>
In order to comply with the know before you owe rule, which
disclosures were replaced with new versions that more clearly
outline mortgage terms to borrowers?
-loan estimate and hud-1 settlement statement
-good faith estimate (gfe) and closing disclosure
-loan estimate and closing disclosure
, -good faith estimate (gfe) and hud-1 settlement statement
<<<ANSWERS>>>loan estimate and closing disclosure
Which government regulation prohibits a lender from
discriminating against a borrower who uses public assistance to
qualify for a mortgage loan?
Truth in lending act (tila)
Home ownership and equity protections act (hoepa)
Equal credit opportunity act (ecoa)
Real estate settlement procedures act (respa)
<<<ANSWERS>>>equal credit opportunity act (ecoa)
Which item would affect the cost of earthquake insurance?
Groundwater flow patterns
Age of borrower
Structural material
Residential zoning type <<<ANSWERS>>>
For a client whose most recent rental history is unfavorable,
which initial strategy should a housing counselor recommend to
increase a potential landlord's willingness to rent to the client?
-complete a tenant responsibilities and obligations course
conducted by a housing counselor.
-inform the landlord that to refuse a tenant access to housing is
a violation of the fair housing act.
-write a letter explaining the various issues the client
experienced under the last landlord.
-propose a higher monthly rental rate to the landlord to make up
for the increased risk of an unfavorable rental history.
<<<ANSWERS>>>
QUESTIONS AND ACCURATE ANSWERS.
A client, who is the surviving spouse of a military service
member, is interested in buying a home. The client now works at
a local nonprofit agency, making $36,000 per year. The client has
$4,000 in savings and a credit score of 624.
If a client has just received a commitment from a lender to
provide a loan for a fixed loan amount based on a review of the
complete loan application package by an underwriter, in what
stage of the lending process is the client?
Loan committee review
Pre-approval
Pre-qualification
Loan application <<<ANSWERS>>>
What are key differences between pmi and mip?
Conventional loans may require mip, removed at 78% ltv. Fha
loans require pmi, removed upon fulfillment of loan terms.
Conventional loans may require pmi, removed at 78% ltv. Fha
loans require mip, removed upon fulfillment of loan terms.
Conventional loans may require mip, removed at fulfillment of
loan terms. Fha loans require pmi, removed at 78% ltv.
Conventional loans may require pmi, removed upon fulfillment of
loan terms. Fha loans require mip, removed at 78% ltv.
<<<ANSWERS>>>
A client seeking to purchase is trying to decide between an fha-
insured mortgage and another mortgage insured by private
,mortgage insurance. Which is a distinguishing difference
between these two types of mortgage insurance?
-fha-insured mortgages generally require payment of mortgage
insurance premiums, which are generally twice as expensive as
private mortgage insurance premiums for the same loan amount.
-private mortgage insurance programs generally require
payment of mortgage insurance premiums for the life of the loan.
Fha-insured mortgages may allow for the removal of this
insurance after paying down the loan to below a 78% loan-to-
value level.
-private mortgage insurance programs generally require
payment of mortgage insurance premiums, which are generally
twice as expensive as fha mortgage insurance premiums for the
same loan amount.
-fha-insured mortgages generally require payment of mortgage
insurance prem <<<ANSWERS>>>
Which borrower information is contained in the uniform
residential loan application (urla)?
Credit score
Tax information
Asset information
Education <<<ANSWERS>>>
In order to comply with the know before you owe rule, which
disclosures were replaced with new versions that more clearly
outline mortgage terms to borrowers?
-loan estimate and hud-1 settlement statement
-good faith estimate (gfe) and closing disclosure
-loan estimate and closing disclosure
, -good faith estimate (gfe) and hud-1 settlement statement
<<<ANSWERS>>>loan estimate and closing disclosure
Which government regulation prohibits a lender from
discriminating against a borrower who uses public assistance to
qualify for a mortgage loan?
Truth in lending act (tila)
Home ownership and equity protections act (hoepa)
Equal credit opportunity act (ecoa)
Real estate settlement procedures act (respa)
<<<ANSWERS>>>equal credit opportunity act (ecoa)
Which item would affect the cost of earthquake insurance?
Groundwater flow patterns
Age of borrower
Structural material
Residential zoning type <<<ANSWERS>>>
For a client whose most recent rental history is unfavorable,
which initial strategy should a housing counselor recommend to
increase a potential landlord's willingness to rent to the client?
-complete a tenant responsibilities and obligations course
conducted by a housing counselor.
-inform the landlord that to refuse a tenant access to housing is
a violation of the fair housing act.
-write a letter explaining the various issues the client
experienced under the last landlord.
-propose a higher monthly rental rate to the landlord to make up
for the increased risk of an unfavorable rental history.
<<<ANSWERS>>>
