Hud home ownership exam Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Hud home ownership exam? On this page you'll find 154 study documents about Hud home ownership exam.
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Hud Certification Housing Counselor Final Exam 2024
- Exam (elaborations) • 19 pages • 2024
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Hud Certification Housing Counselor 
Final Exam 2024 
Which document is most important when working with a client to develop an initial 
budget as part of a Client Action Plan? 
Pay stub 
Retirement plan statement 
List of assets 
Current lease - CORRECT ANSWER-Pay stub 
A client would like purchase a home within one year. The client is motivated to increase 
household income as a way to save for a down payment and qualify for a loan. Which is 
the best solution for the client to reach this g...
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HUD Housing Counseling Exam Complete Guide
- Exam (elaborations) • 40 pages • 2024
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HUD Housing Counseling Exam Complete Guide 
Civil Rights Act of 1866 Federal law granting citizenship to former slaves; passed over Johnson's veto. 
(Race and Color) 
Fair Housing Act of 1968 banned discrimination in the rental or sale of housing (Race, color, religion, 
national origin) 
Housing and Community Development Act of 1974 added gender (sex) to the protected classes 
Fair Housing Amendments Act of 1988 Added Disability and familial status to protected classes. 
Real Estate Set...
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HUD Housing Counselor Certification Practice Exam |Question and Answer| 100% Correct
- Exam (elaborations) • 51 pages • 2024
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HUD Housing Counselor Certification 
Practice Exam |Question and Answer| 
100% Correct 
 
What is the maximum percent of area median income allowable for a household to qualify for a 
Housing Choice Voucher? *Ans* 50% 
Which is the maximum recommended housing ratio for renting an apartment? *Ans* 30% 
Eligibility requirements for down-payment assistance programs include which factors? 
*Ans* Income, home-buyer education, purchase price 
The client is considering an FHA mortgage. What is the...
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The SAFE Mortgage Loan Originator National Exam Study Guide practice Exam 2 Questions With 100% Correct Answers
- Exam (elaborations) • 7 pages • 2024
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The SAFE Mortgage Loan Originator 
National Exam Study Guide practice Exam 2 
Questions With 100% Correct Answers 
1. Which of the following is NOT a loan origination activity? - answerC. Assisting in a loan 
modification 
2. A unilateral contract is binding on: - answerA. One party 
3. Loan originator organizations must keep compensation records for how many years? - 
answerC. Three 
4. Mortgage companies must submit a residential loan origination activity report to the NMLSR 
every: - answerB....
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Virginia Final Exam Questions with Correct Answers 2024
- Exam (elaborations) • 171 pages • 2024
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Virginia Final Exam Questions with Correct 
Answers 2024 
A void contract is one that is 
A. not in writing. 
B. voidable by only one of the parties. 
C. rescindable by agreement. 
D. not legally enforceable. - answerD. not legally enforceable. In order to be enforceable, 
real estate contracts must meet the legal requirements for contracts in general. For example, a 
contract signed by a minor or a "seller" who doesn't own the property in question was never 
legal to begin with and is thus ...
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HECM Exam Questions and Answers 100% Correct
- Exam (elaborations) • 7 pages • 2024
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HECM Exam Questions and Answers 100% Correct 
What is the role of the Housing Counseling Agency in the HECM program? - Answer- 
Educate the consumer about the costs and benefits of the HECM program. 
What is home equity? - Answer- Home value minus liens on the home. 
In what two ways are HECM's different from "home equity loans"? - Answer- Do not 
have to be able to make monthly payments or make monthly payments. 
What is the Maximum Claim Amount on a HECM? - Answer- Lesser of the home value ...
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The SAFE Mortgage Loan Originator National Exam Study Guide practice Exam 2 Questions With 100% Correct Answers
- Exam (elaborations) • 7 pages • 2024
- Available in package deal
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The SAFE Mortgage Loan Originator 
National Exam Study Guide practice Exam 2 
Questions With 100% Correct Answers 
1. Which of the following is NOT a loan origination activity? - answerC. Assisting in a loan 
modification 
2. A unilateral contract is binding on: - answerA. One party 
3. Loan originator organizations must keep compensation records for how many years? - 
answerC. Three 
4. Mortgage companies must submit a residential loan origination activity report to the NMLSR 
every: - answerB....
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NMLS Final Exam Questions With Answers Latest Updated 2023-2024 | 100% Verified
- Exam (elaborations) • 19 pages • 2023
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NMLS Final Exam Questions With Answers Latest Updated 2023-2024 | 100% Verified. TILA disclosure must be given to the applicant within how many days after receiving the 
signed loan application for a reverse mortgage - ANSWER 3 business days 
Truth in lending disclosure must be delivered within how many business days prior to 
closing a reverse mortgage - ANSWER 7 days 
The APR must be finalized at least how many days before closing? - ANSWER 3 days 
A company with which a consumer has an establ...
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NMLS Exam Questions with Correct Answers.docx
- Exam (elaborations) • 31 pages • 2024
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NMLS Exam Questions with Correct A 
 
Acceleration Clause - Answer-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) - Answer-Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) 
 
Appraiser Independance Requirements replaced HVCC - Answer-home valuation code of conduct 
 
Due on Demand Clause - Answer-(Considered a predatory practice) The lender ...
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Real Estate Exam Questions and Answers 100% Pass
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Real Estate Exam Questions and Answers 100% Pass 
A corporation is a legal entity (an artificial person); therefore, real estate owned by the 
corporation is owned in - Correct Answer ️️ -severalty 
A person who receives title to real property through a last will and testament is called a - 
Correct Answer ️️ -devisee 
Tom, Rick, and Harry own a house. When Rick dies, his heirs receive his share of the 
ownership interest. What type of co-ownership did Tom, Rick, and Harry have? - 
Corre...
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