FHA
Conventional
VA
Potpourri
Jumbo
100

If a short sale occurred in the last 3 months, what must the loan guidelines meet?

What is r/e or manually downgraded.

100

On a divorce that is going rate and term transaction, what engine must be used?

What is Fannie?

100

What is the maximum number of clients that can be on a VA loan?

What is 2?

100

How many community property states do you have to pull credit on if married?

What is  9?

100

The client is w-2 and paystub. What full return do you need to have on file that is federal?

What is 1040?

200

To use tip income, how many months must the client receive it for?

What is 12?

200

On Freddie, how many months do you have to receive commission income in order to use income?

What is 24?

200

What is the minimum to use bonus income on a loan?

What is 24?

200

The subject property is located on Indian Reservation or Indian Land, or Tribal. What must the title be in order to say the property is eligible?

What is Vested Fee Simple?

200

Client recently got married. Client just received funds and is paying the mortgage down to do the refinance at 80%LTV. What are the two documents that you need to prove the funds can be used.

What is copy of marriage license, and copy of wedding invitation?

300
Two clients on current loan. One client is in Montana living and the other client is living in Texas. The FHA streamline loan is happening for the client in Texas, what kind of FHA loan must be done on this property?

What is credit qual.

300

How should a timeshare account be treated on a credit report?

What is installment debt or consumer debt?

300

Illinois, Ohio, Massachusetts, Nevada, & West Virginia are ability to repay states. What is the missing one?

What is D.C.

300

Union employees receive unemployment. What is the other type of employee that we can use unemployment for?

What is seasonal?

300

The client is receiving social security on behalf of there love one. What documents must be used to verify that is correct?

What is a bank statement and the awards letter?

400

Please fill in the blank:

_________ *factor=refund amount

What is Previous UFMIP amount?

400

On a type A review: What is the LTV/HTLTV/TLTV for a property in Florida?

What is 75/90/90?

400

What is the percentage you can grouse up social security by?

What is 0?

400

I have a client hat is union, but is not working at the time. The client is good standing with union and been in the union for over 20 year? What is the best rocket engine for him?

What is Freddie?

400

The client is ordered to pay restitution of 300 a month for the next 5 years. Client provided all of the cancelled checks to show the payments. The UW is saying that is not enough. What is the one required documents needed on this loan.

What is the court/litigation documents?

500

Regarding Montana and South Dakota, what is the maximum acreage we can land on?

What is 40?

500

The client had a chapter 12 bankruptcy. The bankruptcy must be dismissed to how many years compared to the credit report?

What is 4?

500

What are the 4 deductions that you have to place in withholding screen?

What is state, Medicare, federal, and social security tax?

500

In the state of Texas, with no 50a6 on the current loan and want to do a divorce buyout under rate and term pricing, what word be in the settlement or divorce paperwork to proceed at rate and term?

What is an owelty lien?

500

The client receives foster care income. The client has 3 children. What must the organization provide to the client to use the income. (Keep in my continence is not required)

What is a length of time of foster car and what is the monthly stipend per child?

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