Xinnix Exam 2025 Questions and
Answers
Loans with an LTV >80% will typically require mortgage insurance.
(FNMA/FHLMC) - --Answer --True
What is the maximum seller contribution allowed for a primary residence at 95%
LTV? (FNMA/FHLMC) - --Answer --3%
On an ARM, redisclosure of the Truth in Lending is required if the APR changes
more than ____%? - --Answer --.25
FHA loans have both a BASE Loan Amount and Total Loan Amount - --
Answer --True
A borrower's brother would like to give her money to help towards the down
payment of her new house. This would be considered _________ - --
Answer --A gift from a relative and would require a gift letter, as well as
proof that the funds have been transferred to the borrower's account.
A straw buyer is an individual who is paid to purchase a property and apply for a
mortgage for someone who is unable to qualify for a loan. - --Answer --True
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
,Desktop Underwriter (DU) would result in a decision of Approve/Ineligible on a
loan with excellent credit which qualifies as a jumbo loan program - --
Answer --True
If a borrower qualifies for an agency loan of $295,750, FHA is a viable loan option.
- --Answer --True
Using the following information, answer the following conventional financed MI
loan question.
Sales Price = $185,000
Down Payment = 10%
Credit Score = 635
20-year Fixed Rate
Owner-occupied
What is the Total Loan Amount and MI Factor? - --Answer --$169,247 /
1.65%
As a pillar of relationship selling, to Know You means to have what? - --
Answer --Name recognition
The following are types of renovation mortgages: - --Answer --FNMA
HomeStyle, FHA 203(k)
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
, Your borrower is paid $1,950 bi-weekly and has been on his job for three years.
His wife works part-time and makes $10.25/hour. She works 20 hours per week
and has been on her job for two years. What is their combined monthly income? -
--Answer --$5,113
Bi-weekly: $ x = 4225
Hourly: $ x # hours x = 888
Combined: 4225 + 888 = 5113
What is the maximum seller contribution allowed for an investment property at
80% LTV? (FNMA/FHLMC) - --Answer --2%
Flipping is a scheme where several people each purchase a property within the
neighborhood and then sell the properties to one another, inflating the price of the
home with each sale. - --Answer --False.
The perpetrator purchases a piece of property and resells it quickly (often the same
day) at a much higher price.
Redisclosure of the Truth in Lending is required if the APR changes more than
____%? - --Answer --.125
If a borrower qualifies for an agency loan of $325,000, FNMA is a viable loan
option. - --Answer --True
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 3
Answers
Loans with an LTV >80% will typically require mortgage insurance.
(FNMA/FHLMC) - --Answer --True
What is the maximum seller contribution allowed for a primary residence at 95%
LTV? (FNMA/FHLMC) - --Answer --3%
On an ARM, redisclosure of the Truth in Lending is required if the APR changes
more than ____%? - --Answer --.25
FHA loans have both a BASE Loan Amount and Total Loan Amount - --
Answer --True
A borrower's brother would like to give her money to help towards the down
payment of her new house. This would be considered _________ - --
Answer --A gift from a relative and would require a gift letter, as well as
proof that the funds have been transferred to the borrower's account.
A straw buyer is an individual who is paid to purchase a property and apply for a
mortgage for someone who is unable to qualify for a loan. - --Answer --True
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
,Desktop Underwriter (DU) would result in a decision of Approve/Ineligible on a
loan with excellent credit which qualifies as a jumbo loan program - --
Answer --True
If a borrower qualifies for an agency loan of $295,750, FHA is a viable loan option.
- --Answer --True
Using the following information, answer the following conventional financed MI
loan question.
Sales Price = $185,000
Down Payment = 10%
Credit Score = 635
20-year Fixed Rate
Owner-occupied
What is the Total Loan Amount and MI Factor? - --Answer --$169,247 /
1.65%
As a pillar of relationship selling, to Know You means to have what? - --
Answer --Name recognition
The following are types of renovation mortgages: - --Answer --FNMA
HomeStyle, FHA 203(k)
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
, Your borrower is paid $1,950 bi-weekly and has been on his job for three years.
His wife works part-time and makes $10.25/hour. She works 20 hours per week
and has been on her job for two years. What is their combined monthly income? -
--Answer --$5,113
Bi-weekly: $ x = 4225
Hourly: $ x # hours x = 888
Combined: 4225 + 888 = 5113
What is the maximum seller contribution allowed for an investment property at
80% LTV? (FNMA/FHLMC) - --Answer --2%
Flipping is a scheme where several people each purchase a property within the
neighborhood and then sell the properties to one another, inflating the price of the
home with each sale. - --Answer --False.
The perpetrator purchases a piece of property and resells it quickly (often the same
day) at a much higher price.
Redisclosure of the Truth in Lending is required if the APR changes more than
____%? - --Answer --.125
If a borrower qualifies for an agency loan of $325,000, FNMA is a viable loan
option. - --Answer --True
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 3
