Xinnix Bundled Exams Questions and Answers 100% Verified and Updated 2024 | Graded A

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 ...

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 Co...

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 ...

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 be...

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...

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 yea...

Xinnix Exam Questions and Answers 100% Pass Loans with an LTV >80% will typically require mortgage insurance. (FNMA/FHLMC) - Answer- True What is the maximum seller contribution allowed for a primary residence at 95% LTV? (FNMA/FHLMC) - Answer- 3% On an ARM, redisclosure of the Truth in Lend...

Xinnix SOAR Final Exam Questions and Answers 100% Pass FNMA and FHLMC are what type of loan? - Answer- conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - Answer- true convention...