Packers
Steelers
Colts
Patriots
Cowboys
100
Rob received an ICD review of Mr. Wilson's loan. Rob reviewed the CLUES report and 1003 and has rendered a decision. He needs to update the Underwriter Loan Analysis page in StatusMart. What field(s) must he complete? a. Credit Decision b. Second Signature Decision c. Collateral Decision d. All of the above
What is d. All of the above
100
Michael, an underwriter, needs to enter final approval on a conventional loan. This step is usually performed by the HSS. Why is Michael working the activity? a. You told the HSS that you want to re-underwrite the loan at final approval. b. It exceeds the HSS SASE authority level. c. The MLO specifically requested that you do the final approval. d. Only underwriters are authorized to enter a final approval.
What is b. It exceeds the HSS SASE authority level.
100
You have changed the original terms of an application by reducing the loan amount. The applicant indicates he or she want a few days to think about the change. What credit decision option should you enter on the Underwriter Loan Analysis page in StatusMart? a. Approve b. Counter Offer c. Denial d. Redecision
What is Correct Response:  b. Counter Offer
100
You notice on the Underwriter Loan Analysis page that the Final Approval field is completed. What does this mean? a. CLUES report has been re-run b. Loan is ready to go through final approval c. All credit and collateral conditions have been met d. MICD decision
What is Correct Response:  c. All credit and collateral conditions have been met
100
You will need to access FHA Connection and update the the credit decision for ______. a. Conventional loans b. FHA loans c. VA loans d. TAS loans
What is Correct Response:  b. FHA loans
200
Jane received a loan application submitted because details changed in the loan since the initial credit approval. Jane reviewed all loan data and documentation available and decisioned the loan with an Approve, adding a Counter Offer, or recommending for Decline. What resubmission process is being used in this situation? Select the best answer choice. a. For Redecision b. For Final Approval c. For Condition Review d. For Other Review
What is a. For Redecision
200
You have an asset statement in the file; you review it and notice it does not match the system. What do you need to do? a. Update EDGE. b. Contact the borrower to see what happened. c. Communicate to the HSS to update EDGE.
What is c. Communicate to the HSS to update EDGE.
200
You are on the Underwriter Loan Analysis page to review the credit decision. On the page, you notice the Credit Decision status is Approve and displays CLUES as the Underwriter of Record. What does this indicate? a. AICD decision b. MICD decision
What is Correct Response:  a. AICD decision
200
In what circumstances will you engage Underwriting Support via Workflow Automation? a. Second Signature required b. Second review for declined loans, as needed c. Additional guidance on clearing conditions d. Approve loan
What is Correct Response:  a., b., and c.
200
You will need to access TAS to update information and order appraisals for _______. a. Conventional loans b. FHA loans c. VA loans d. TAS loans
What is Correct Response:  c. VA loans
300
Tom received a request to clear a condition or alert because it is outside the SASE level of the HSS. He should: a. Not re-underwrite the entire loan b. Underwrite the entire loan
What is b. Underwrite the entire loan
300
You have analyzed a loan and do not feel it meets credit risk requirements. Before you decline it, you are required to have it reevaluated by a senior underwriter. What procedure would you use? a. How to Request Borrower Support procedure b. How to Request HSS Support procedure c. How to Request Underwriting Support procedure d. No one. You can not ask for support.
What is Correct Response:  c. How to Request Underwriting Support procedure
300
You receive an activity in your Associate Inbox in which you need to render a loan decision. Where do you enter the decision in StatusMart? a. Associate Inbox b. Loan Analysis page c. Comment Log d. Underwriter Loan Analysis page
What is Correct Response:  d. Underwriter Loan Analysis page
300
Imagine a guy driving on a highway on a windy day. Suddenly he notices some people standing by the side of the road, and he slows down. He learns that the people include his best friend, an ailing old lady and his dream girl. Now, the ailing lady is dying and requires immediate medical help. In another case he is getting only one chance to spend a day with his dream girl, and of course he can't leave your best friend. So what should he do in order to help the lady to reach the hospital? Remember, that hiscar can carry 'ONLY TWO' people (the driver and one passenger).
He should ask his best friend to drive the lady to a hospital and then you spend a day with his dream girl! How's that?
300
Imagine you are in a sinking rowboat surrounded by sharks. How would you survive?
What is just quit imagning! :)
400
Garfield is walking on a road and suddenly the road detours. What would Garfield do?
What is There's nothing much to do. Garfield will take the detour, as he has no other way to go!
400
Name all the numbers from 1 - 100, which have the letter 'A' in their spellings?
What is None! If you do not believe, try writing down all numbers in words, you won't find the letter 'A' in any of them.
400
You have 20 apples in a basket. 20 children come to you and each one of them ask for an apple. You want to give all the apples to each one of them, but still keep one inside the basket? How will you do it?
What is Give all the 19 apples to each one of them and give the basket to the last child with the apple still inside it
400
You have analyzed a loan and do not feel it meets credit risk requirements. Before you decline it, you are required to have it reevaluated by a senior underwriter. Who would you contact? a. Borrower b. HSS c. Underwriting Support d. No one. You can not ask for a second opinion.
What is c. Underwriting Support
400
A man says, "Brothers and sisters, have I none, but that man's father is my father's son." Who is he pointing at?
What is “My father’s son” must mean himself because he has no brothers, and since this is the father of the person he is pointing at, he is ponting at his son!
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