Xinnix Study guides, Class notes & Summaries

Xinnix SOAR Final Questions and Answers 100% Correct FNMA and FHLMC are what type of loan? - conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - true conventional loans are not insured by the federal government - true Agency loans include FHA and VA loans - true the proceeds of a loan for cash out refinance may be used by the borrower to insure a new pool - true a non-age...

Xinnix Ground School Questions and Answers 100% Correct 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. - False YTD paystubs will be requires from a borrower that is self-employed (schedule C) - False A borrower requesting a jumbo loan will qualify for an agency loan - False Trailing spouse income can be used for qualifying purposes. - False The follow...

Xinnix Ground School Questions and Answers 100% Correct first-time homebuyer - Someone who has never owned a home Move-up homebuyer - Currently owns, or has previously owned a home and is looking to move up in price, location, size, etc. Relocation Homebuyer - Purchasing a new home in a different city or state due to job transfer or personal desire Affluent homebuyer - Well seasoned in home buying process. Knowledgeable, financially savvy, busy. Empty-nester homebuyer - Experienced home...

XINNIX FLIGHT SCHOOL Questions and Answers 100% Correct The rate lock period for a refi, with a right of rescission, must be long enough to cover the rescission period. - True How long does a borrower have to wait to buy a home after they have had a foreclosure? FHA - 3 years What are the steps you should follow to determine the correct MI? - LTV, term, product type, occupancy type and coverage. Typically, files that have to be manually underwritten are subject to less strict guidelines...

Xinnix Final Questions and Answers 100% Correct A veteran has the ability to transfer a portion of their entitlement to another veteran. - False 1. Gross rent may be considered effective income when an applicant is planning to rent their current residence after closing on the purchase of their new home. - False Based on the following scenario, does the borrower qualify within FNMA guidelines? PITI: $1,725 monthly Income: $7,000 Debt: $700 car payment, $375 student loan ($2,250 balance...

Xinnix Final Exam with complete solutions latest update

Xinnix Ground Course Final Exam with complete solutions latest update

Xinnix Ground School Mortgage Final Exam with complete solutions latest update

Xinnix Ground School Exam with complete solutions latest update

Xinnix Mock Exam Missed Questions Exam with complete solutions latest update