I want a second chance!
Don't Hate, Abbreviate
How do I go about getting a hold of the Po-lice?
Seller Concessions
Pot Luck
100
Waiting period to obtain a VA loan after a foreclosure.
What is 2 years?
100

The sum of all monthly debt payments divided by borrowers income.

What is DTI?
100
Fraud for profit scheme when a home is purchased and resold within a short time frame at an artificially inflated value
What is property flipping scheme?
100
Maximum seller contribution on a FHA loan.
What is 6%?
100
The name of Ernie's dog.
What is Sofee?
200
Waiting period after a foreclosure when trying to obtain a conventional loan
What is 7 years?
200
Issuer of unique identifiers required of all mortgage originators
What is NMLS?
200

A person who pretends to be a legitimate buyer but is actually purchasing on behalf of another person.

What is a straw buyer?
200
This type of loan allows seller concessions to payoff credit balances or judgments on behalf of the buyer.
What is a VA loan?
200
The names of Jason's children
What is Ethan, Mallory and Liam?
300
Waiting period after Chapter 7 bankruptcy discharged for a USDA loan.
What is 3 years?
300
GSE is an acronym

What is Government Sponsored Enterprise?


300

The unauthorized use of personally identifying information such as a name and Social Security Number (SSN) to obtain credit, or loan or commit fraud or other crimes

What is identity Theft?
300
Maximum seller contribution on all CLTV's for a conventional loan for investment property.
What is 2%?
300
Number of bank offices Community Bank has plus or minus a few
What is 45?
400

Waiting period after Chapter 7 bankruptcy discharged for a FHA loan.

What is 2 years?
400

Two most widely known examples of mortgage GSE's

What is Fannie Mae and Freddie Mac?
400

Occurs when one or more parties to a mortgage transaction or subject real estate has "an interest" in the transaction either by relationship to the individual or monetary interest

What is Non-Arm's Length Transaction?
400
Maximum seller contribution for a USDA loan
What is 6%?
400
First and Last name of our newest MLO.
What is Lauren Wheeler?
500
The number of years the borrower is required to wait after the completion of a short sale in order to get a conventional loan.
What is 4 years?
500
An electronic registry that tracks ownership of mortgage loans and servicing rights
What is MERS?
500

Conceal obligations, such as mortgage loans on other properties or newly acquired credit card debt, to reduce the amount of monthly debt declared on the loan application

What is undisclosed debt?
500
Maximum seller contribution for a Conventional loan with a LTV greater than 90%.
What is 3%?
500
Oldest member of our CBOM mortgage staff?
Who is Carolyn Wade?
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