Xinnix Guides d'étude, Notes de cours & Résumés
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Xinnix Quiz Questions with 100% Correct Answers
- Examen • 26 pages • 2024
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Xinnix Quiz Questions with 100% Correct Answers 
Ginnie Mae was wholly created to purchase government mortgages on the secondary 
market - Answer- false 
which of the following was not a reason The Federal Housing Administration (FHA) was 
created - Answer- to simplify mortgage forms 
match in order of creation - Answer- 1st-FNMA 
2nd-GNMA 
3rd-FHLMC 
match the following - Answer- FNMA-fannie mae 
FHLMC-Freddie Mac 
what allowed more conventional mortgages to be originated in the early 1970s wit...
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XINNIX Mock Exam Review Questions and Answers 100% Pass
- Examen • 10 pages • 2024
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XINNIX Mock Exam Review Questions and 
Answers 100% Pass 
(T or F): If a borrower tells you about a liability that is not listed on the credit report, it 
doesn't need to be included on the loan application. - Answer- False 
What is the maximum seller contribution allowed for a primary residence below 75% 
LTV? (FNMA/FHLMC) - Answer- 9% 
(T or F) DU does not consider non-occupant income as qualifying income - Answer- 
True 
(T or F) HOA dues are included in the PITI calculation. - Answer- False...
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XINNIX FLIGHT SCHOOL EXAM QUESTIONS AND ANSWERS
- Examen • 18 pages • 2024
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XINNIX FLIGHT SCHOOL EXAM 
QUESTIONS AND ANSWERS 
The rate lock period for a refi, with a right of rescission, must be long enough to cover 
the rescission period. - Answer- True 
How long does a borrower have to wait to buy a home after they have had a 
foreclosure? FHA - Answer- 3 years 
What are the steps you should follow to determine the correct MI? - Answer- LTV, term, 
product type, occupancy type and coverage. 
Typically, files that have to be manually underwritten are subject to less st...
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xinnix Mock Exam Questions and Answers 100% Pass
- Examen • 11 pages • 2024
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xinnix Mock Exam Questions and 
Answers 100% Pass 
Residual income is the amount of income available for family support after taxes and 
social security expense have been subtracted from the gross income and after PITI and 
other long-term debt has been paid. -Answer-Response: True 
Feedback: See Course 6, Lesson 1 
FHA Case Numbers are tied to the property, not the borrower. -Answer-Response: True 
Feedback: See Course 5, Lesson 1 
What is the minimum coverage required on the hazard insurance p...
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Xinnix Ground School Mortgage Final Exam Questions and Answers 100% Pass
- Examen • 6 pages • 2024
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Xinnix Ground School Mortgage Final Exam 
Questions and Answers 100% Pass 
On an FHA loan the upfront MIP should be included when calculating cash-to-close. - 
Answer- False 
The borrower must have 5% of their own funds when putting 15% down on a primary 
residence. (FNMA) - Answer- False 
A 3-Year ARM adjusts every 3 years - Answer- True 
A Loan Officer can locate the summary of the eligibility requirements for a loan to be 
sold to a specific lender/investor in the lender specs. - Answer- Fals...
Rendre le stress des études moins douloureux
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XINNIX Mortage Basix Exam Questions and Answers 100% Pass
- Examen • 10 pages • 2024
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XINNIX Mortage Basix Exam Questions and 
Answers 100% Pass 
What does FNMA stand for? - Answer- Federal National Mortgage Association 
What does FHLMC stand for? - Answer- Federal Home Loan Mortgage Corporation 
What does AU stand for, and what is it? - Answer- Automated Underwriting, a 
computerized system that uses historical statistics to issue a decision of how to proceed 
with a loan request. 
The Purposes of Property acceptable for FNMA and FHLMC include: - Answer- Primary 
Residence, Seco...
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Xinnix Final Exam Questions and Answers 100% Pass
- Examen • 20 pages • 2024
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Xinnix Final Exam Questions and Answers 100% Pass 
A veteran has the ability to transfer a portion of their entitlement to another veteran. - 
Answer- 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. - Answer- 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 ...
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Xinnix Ground School Exam Questions and Answers 100% Pass
- Examen • 18 pages • 2024
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Xinnix Ground School Exam Questions and 
Answers 100% Pass 
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 
YTD paystubs will be requires from a borrower that is self-employed (schedule C) - 
Answer- False 
A borrower requesting a jumbo loan will qualify for an agency loan - Answer- False 
Trailing spouse income can be used for qualifying purp...
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Xinnix Final Exam Questions and Answers 100% Pass
- Examen • 17 pages • 2024
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Xinnix Final Exam Questions and 
Answers 100% Pass 
On an FHA loan the upfront MIP should be included when calculating cash-to-close. - 
Answer- False 
The borrower must have 5% of their own funds when putting 15% down on a primary 
residence. (FNMA) - Answer- False 
A 3-Year ARM adjusts every 3 years - Answer- True 
A Loan Officer can locate the summary of the eligibility requirements for a loan to be 
sold to a specific lender/investor in the lender specs. - Answer- False 
A HELOC loan has an ...
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Xinnix Flight School Study Questions and Answers 100% Pass
- Examen • 5 pages • 2024
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Xinnix Flight School Study Questions and 
Answers 100% Pass 
T or F - You are required to disclose why a loan was declined, if applicable, to the 
lender you are transferring a loan package to for all FHA and VA Loans - Answer- True 
What following repairs are allowed under the FHA 203(K) Standard Program - Answer- - 
Those allowed by 203(K) limited 
- converting a 1-family to a 2, 3, 4 family structure. 
- decreasing an existing multi unit structure to a one to four family structure 
- Reconstr...
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