Hud 2022 practice exam - Study guides, Class notes & Summaries

NMLS Questions and Answers Latest Updated 2022 Graded A Acceleration Clause Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC home valuation code of conduct Due on Demand Clause (Considered a predatory practice) The lender can demand repayment o...

NMLS SAFE EXAM Questions with accurate answers, Graded A, 2022/2023. Document Content and Description Below NMLS SAFE EXAM Questions with accurate answers, Graded A, 2022/2023. Primary Mortgage Market - Where credit institutions originate loans C. The maximum the rate can increase over the lif e of the loan - When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over t...

PSI Test Practice Questions and answers, 2022/2023. Graded A+. Questions bank Document Content and Description Below PSI Test Practice Questions and answers, 2022/2023. Graded A+ Agency disclosure requirements apply in all of the following transactions EXCEPT A) resale of foreclosed properties B) commercial leases C) new construction D) multifamily sales - B) commercial leases The period of time over which an improvement to the property will remain useful for its original purpose is known as i...

PSI NJ Real Estate Exam, PSI Practice Test, Complete Correct answers 2022. Water Rights The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is an agent to the broker and a subagent to the principal. Depreciation is calculated based on the Cost of the building only. When a property owner uses his home as collateral for a loan and creates a lien in favor of the lender...

PSI Broker Exam Prep, Questions and answers, 2022/2023. Rated A Document Content and Description Below PSI Broker Exam Prep, Questions and answers, 2022/2023. Rated A A buyer has the right to buy a property at an agreed-upon price within the next six months. This is a(n) - an option A lea sehold estate that does NOT require notice to terminate is called a(n) - an estate for years The broker and the seller both know that the foundation of the seller's house is unsafe. If they do not inform the...

NMLS Questions and Answers Latest Updated 2022 Graded A Acceleration Clause Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC home valuation code of conduct Due on Demand Clause (Considered a predatory practice) The lender can demand repayment o...

National Real Estate Exam Practice Questions With accurate answers, Graded A. 2022/2023 Document Content and Description Below National Real Estate Exam Practice Questions With accurate answers, Graded A. 2022/2023 A property owner has decided to do some landscaping work on his yard. He has planted a tree surrounded by som e flowering shrubs. The tree and shrubs are an example of... - improvements A property owner has a waterfront lot on a stream. He has the right to use the water from the str...

NMLs Practice Exam COMPLETE SOLUTION ( A+ GRADED 100% VERIFIED) 2022/ 2023 A person wanting a loan originator license in four states - ANS must pass the state component of the license test in each state. The correct answer is B. A person can be licensed in all of the states, provided he is employed by the same employer in all the state. His NMLS-approved education need only be taken once. The test results for the national test component are valid in each state; however, he must take and pas...