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Prepxl Bundled Exams;Everything you need to pass is here!!! $17.49   Add to cart

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Prepxl Bundled Exams;Everything you need to pass is here!!!

Prepxl Bundled Exams;Everything you need to pass is here!!!

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PREPXL- General mortgage knowledge EXAM(Graded A+ actual test)

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According to the Truth-in-Lending Act, a variation up to what amount is permitted for the annual percentage rate in a regular fixed-rate mortgage transaction as quoted in the Loan Estimate? 1% .5% .125% .25% - Answer-.125% The term "subordination" refers to: The process of releasing a lien ...

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Prepxl Practice test 4 questions and answers graded A+

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f a borrower is required to pay alimony or child support, it must be included as a(n): - Asset - Liability - Qualifier - Mitigating circumstance - Answer-Liability. Alimony and child support must be included in a borrower's liabilities if they are required to pay. A lender who refuses to orig...

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Prepxl Practice Test 8 Questions and Answers 2024 Correctly done

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ACME Home Loans is a private lender with a strict policy of limiting originations to conventional qualified mortgages with minimum loan amounts of $300,000. To ensure compliance with this policy, loan originators are instructed to refuse to accept applications from consumers who want loan amounts ...

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Prepxl Practice Test 3 Questions With All Correct Answers Already Passed!!

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In January of 2020, Wella and Kip agreed to purchase a home at a purchase price of $546,300. They would like to hold onto as much of their savings as they can, but they have chosen to make a down payment sufficient enough to qualify for a conforming loan. What is the minimum down payment they can...

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Prepxl Practice Test 6 Questions With Complete Solutions Rated A+

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Cindy bought a home and closed on a 6.0% rate for 30 years. The loan includes a payment feature that allows Cindy to make a $1,400/month payment for the first five years, and a $1,800/month payment for the remainder of the loan. What type of loan is this? - Variable - ARM - Option ARM - Fixed ...

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Prepxl Practice Test 7 Questions & Answers Rated 100% Correct!!

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Which of the following is responsible for determining whether to issue a license approval? - The NMLS - The Governor - The Legislature - The Commissioner - The Commissioner. The Commissioner or state regulator for financial institutions determines licensing eligibility. A subordinate lien that...

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Prepxl practice test 2 Questions and Answers 2024 Correctly done

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Under RESPA, the servicer may require a borrower to pay into an escrow account to cover disbursements that are unanticipated or disbursements made before the borrower's monthly payments are available in the account, a cushion or reserve that must be no greater than _____ of the estimated total an...

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Prepxl Practice Test 1 Questions and Answers 2024 Correctly done

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Homes for All considers itself a nonprofit organization. In order for its employees to be exempt from the licensing requirements of the S.A.F.E. Act, each of the following must be true about Homes, except: A) It has tax-exempt status under the Internal Revenue Code B) Its employee compensation pa...

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