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11 lines
2.1 KiB
11 lines
2.1 KiB
4 months ago
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id&qtp&qim&qil&qtx&qca&qia&qrm&qnxt&qprv&qalb&subj&wght&pts&flr&ded&layout&qfixed&qptsbyans&flags
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FMSample.001&mch&0&Y&Match the following documentation type to the corresponding LLTP.&Termination notice;Paystubs showing previous and current incomes;Itemized credit card statements;Death certificate;&Unemployment;Mandatory pay reduction;Overextended credit to pay living expenses;Death of a borrower;&&&&a&sample.0&&&&
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FMSample.002&mcs&0&N&When comparing the borrowers form 1126 to the paystubs supplied, you should:&Verify the Borrower's income and deduction calculations are correct and look for deductions that could be stopped&Assume the Borrower calculated the income correctly and look only for unnecessary deductions;Verify that the Borrower's income calculations are correct and ignore the payroll deductions as they are not in the borrowers control;&&&&a&sample.0&&&&
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FMSample.003&esa&0&N&A Borrower's gross pay is $1,200 every two weeks. What is the monthly income? <i>(Use numbers only. Do not use the $ sign or commas in your answer)</i>&2600&&&&&&sample.0&&&&
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FMSample.004&mcs&0&&If you are modifying an investment property, you must prepare:&An assignment of rents&A due on transfer rider;A truth in lending statement;A subordination agreement;&&&&a&sample.0&&&&
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FMSample.005&mcs&0&&Which of the following must a Borrower submit for the Enhanced Short Payoff program?&Borrower letter&2 years' tax returns;Paystub;Bank statement;Form 1128;&&&&a&sample.0&&&&
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FMSample.006&tf&0&N&Before accepting a deed-in-leiu of foreclosure, you should attempt to have the Borrower list the property at market value for 90 days.&TRUE&FALSE&&&&&sample.0&&&&
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FMSample.007&mcs&0&N&What documentation are you required to send to Freddie Mac to review a problem loan?&All of the above.&Form 1130;12 month payment history;&&&&a&.0&&&&
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FMSample.008&tf&0&&The disposition codes of R, S, I, and P can be transmitted on the 44th day prior to the balloon maturity date?&FALSE&TRUE&&&&&.0&&&&
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FMSample.009&esa&0&&When the Accounting Net Yield is higher than the Required Net Yield, you will receive a &discount&&&&&&.0&&&&
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