You can not select more than 25 topics
Topics must start with a letter or number, can include dashes ('-') and can be up to 35 characters long.
102 lines
18 KiB
102 lines
18 KiB
4 months ago
|
id&qtp&qim&qil&qtx&qca&qia&qrm&qnxt&qprv&qalb&subj&wght&pts&flr&ded&layout&qfixed&qptsbyans&flags
|
||
|
|
irtest2.001&mcs&0&N&What is the difference between Reporting and Remitting?&Remitting is sending cash to Freddie Mac, Reporting is sending information to Freddie Mac&There is no difference, you can use these terms interchangeably;Reporting is optional as long as you remit;All of the above;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.002&mcs&0&N&How many transactions can Freddie Mac process in a cycle for each loan?&One&As many as necessary;Up to five;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.003&mcs&0&N&What action should you take, if any, to clear a loan without an asterisk on the Loans Missing Report?&I must transmit a transaction, but it does not have to be transmitted as a revision&No action is necessary/required;I must transmit a transaction as a revision;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.004&mcs&0&N&What action should you take, if any, to clear a loan on the Edits To Be Cleared Report, excluding 101es?&I must transmit a new transaction as a revision&No action is necessary/required;I must transmit a new transaction, but it does not have to be transmitted as a revision;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.005&mcs&0&N&What action should you take, if any, to clear a loan on the System Cleared Edit Report, where you AGREE with what Freddie Mac processed? (Ignoring Servicer Performance Profile impacts)&No action is necessary/required&I must transmit a new transaction as a revision; I must transmit a new transaction, but it does not have to be transmitted as a revision;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.006&mcs&0&N&What action should you take, if any, to clear a loan on the System Cleared Edit Report to minimize the impact of a loan edit on your Servicer Performance Profile?&I must transmit a new transaction as a revision&No action is necessary/required;I must transmit a new transaction, but it does not have to be transmitted as a revision;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.007&mcs&0&N&What action should you take, if any, to clear a loan on the System Cleared Edit Report, where you DO NOT AGREE with what Freddie Mac processed?&I must transmit a new transaction as a revision&No action is necessary/required;I must transmit a new transaction, but it does not have to be transmitted as a revision;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.008&mcs&0&N&How many site numbers do you have for MIDANET for the PC?&One for each software received from Freddie Mac&One for each different Servicer number;One for each different functional area; All of the above;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.009&mcs&0&Y&You are transmitting a revision for a transaction. How should you mark the revision on MIDANET for the PC if the original transaction was sent via MIDANET for the PC?&&&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.010&mcs&0&Y&You are transmitting a revision for a transaction. How should you mark the revision on MIDANET for the PC if the original transaction was sent via MIDANET for the PC?&Mark the revision as an UPDATE&Mark the revision as an ADD;Mark the revision as a REVISE;Mark the revision as a BROWSE;Mark the revision as a DELETE;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.011&mcs&0&N&What balance is used to calculate interest due to Freddie Mac?&The unpaid principal balance processed by Freddie Mac the previous cycle&The actual unpaid principal balance at the accounting cutoff;The actual unpaid principal balance on the first of the month;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.012&mcs&0&N&The 'amount due' on the Seller/Servicer Remittance Analysis (Cash Statement) is based on __________&What Freddie Mac processed&What Freddie Mac forecast as being due next cycle;All of the above;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.013&mcs&0&N&At the May accounting cutoff you report monthly interest for:&April&May;June;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.014&mcs&0&N&Place a check next to the example below that correctly indicates a <b>cash adjustment</b>.&Freddie Mac $500 / GPI $0&Freddie Mac $500 / GPI $500;Freddie Mac $1200 / GPI $1200;Freddie Mac $200 / GPI $200;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.015&mch&0&N&Match the exception code with its description.<br>NOTE: Indicate the letter in the box (to the left of the <em>exception code</em>) that corresponds to the <em>exception name</em> in the right column.&60;66;50;40;65;61;&Matured Payoff;Convertible ARM Repurchase;Reinstatement;Inactivation;Repurchase;Prepaid Payoff;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.016&tf&0&N&The Edits to be Cleared Report is a daily report.&TRUE&FALSE&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.017&tf&0&N&The Loan Reconciliation Difference Report is a daily report&FALSE&TRUE&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.018&tf&0&N&You must complete your GPI call-in no later than 9:00 p.m. eastern time the same day the funds are due Freddie Mac to ensure we receive the funds by the due date.&FALSE&TRUE&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.019&tf&0&N&Freddie Mac debits your bank account for the 'Amount Due' on the Seller/Servicer Remittance Analysis (Cash Statement).&FALSE&TRUE&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.020&tf&0&N&You must have written approval from Freddie Mac to reduce a GPI call-in to recoup an overage on your Seller/Servicer Remittance Analysis (Cash Statement).&FALSE&TRUE&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.021&tf&0&N&You must transmit the notification of foreclosure via EDR (action code 43) prior to reporting the loan-level transaction to inactivate the loan.&TRUE&FALSE&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.022&tf&0&N&A 101 will stay on the Edits to be Cleared report every day until the end of the cycle.&TRUE&FALSE&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.023&tf&0&N&Most edits continue to appear on the Edits to be Cleared report every day until a revision is accepted or the cycle has ended.&TRUE&FALSE&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.024&tf&0&N&When a loan is set up on your system it should match the Funding Detail report.&TRUE&FALSE&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.025&tf&0&N&Freddie Mac assumes a first of the month due date for all loans for investor reporting.&TRUE&FALSE&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.026&esa&0&N&You received the May and June payments on April 30th Each payment is for $100 in principal and $900 in interest. The DDLPI for the May accounting cycle is (MM/DD) __________<br><em>Please format your answer with a two digit month and a two digit day (mm/dd).</em>&06/01&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.027&esa&0&N&You received the May and June payments on April 30th Each payment is for $100 in principal and $900 in interest. The LPRD for the May accounting cycle is (MM/DD) __________<br><em>Please format your answer with a two digit month and a two digit day (mm/dd).</em>&04/30&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.028&esa&0&N&You received the May and June payments on April 30th Each payment is for $100 in principal and $900 in interest. For the May accounting cycle for a NET YIELD LOAN, the principal due is __________<br><em>Please format your answer as a number followed by 2 decimal places (ex. ####.##). Do not include the dollar sign ($) or commas (,) in your answer.</em>&200.00&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.029&esa&0&N&You received the May and June payments on April 30th Each payment is for $100 in principal and $900 in interest. For the May accounting cycle for a NET YIELD LOAN, the interest due is __________<br><em>Please format your answer as a number followed by 2 decimal places (ex. ####.##). Do not include the dollar sign ($) or commas (,) in your answer.</em>&900.00&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.030&esa&0&N&You received the May and June payments on April 30th Each payment is for $100 in principal and $900 in interest. For the May accounting cycle for an ALTERNATE METHOD LOAN, the principal due is __________<br><em>Please format your answer as a number followed by 2 decimal places (ex. ####.##). Do not include the dollar sign ($) or commas (,) in your answer.</em>&200.00&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.031&esa&0&N&You received the May and June payments on April 30th Each payment is for $100 in principal and $900 in interest. For the May accounting cycle for an ALTERNATE METHOD LOAN, the interest due is __________<br><em>Please format your answer as a number followed by 2 decimal places (ex. ####.##). Do not include the dollar sign ($) or commas (,) in your answer.</em>&1800.00&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.032&esa&0&N&You received the May and June payments on April 30th Each payment is for $100 in principal and $900 in interest. For the May accounting cycle for a SCHEDULED/SCHEDULED LOAN, the principal due is __________<br><em>Please format your answer as a number followed by 2 decimal places (ex. ####.##). Do not include the dollar sign ($) or commas (,) in your answer.</em>&100.00&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.033&esa&0&N&You received the May and June payments on April 30th Each payment is for $100 in principal and $900 in interest. For the May accounting cycle for a SCHEDULED/SCHEDULED LOAN, the interest due is __________<br><em>Please format your answer as a number followed by 2 decimal places (ex. ####.##). Do not include the dollar sign ($) or commas (,) in your answer.</em>&900.00&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.034&mcs&0&N&If the DDLPI is 3/1, what is the last month's interest collected from the borrower?&February&January;March;April;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.035&mcs&0&N&If a loan was inactivated in the July cycle, what was the last month's interest passed through to Freddie Mac?&June&July;August;September;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.036&esa&0&N&If the ANY is 8.000% and the Freddie Mac 4/15 loan balance was $80, 000, what is the interest due for the May cycle for a loan that was active on 4/15 and is still active?<br><em>Please format your answer as a number followed by 2 decimal places (ex. ####.##). Do not include the dollar sign ($) or commas (,) in your answer.</em>&533.33&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.037&esa&0&N&You inactivate a loan in the May cycle (code 40). What is the interest due for the May cycle if the ANY is 8.000% and the 4/15 loan balance was $80, 000?<br><em>Please format your answer as a number followed by 2 decimal places (ex. ####.##). Do not include the dollar sign ($) or commas (,) in your answer.</em>&533.33&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.038&esa&0&N&If the ANY is 8.000% and the Freddie Mac 4/15 loan balance was $80, 000, what is the interest due for the May cycle for a loan you inactivated in a previous cycle (at a balance of $80,000) and is still inactive?<br><em>Please format your answer as a number followed by 2 decimal places (ex. ####.##). Do not include the dollar sign ($) or commas (,) in your answer.</em>&0.00&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.039&esa&0&N&If the ANY is 8.000% and the Freddie Mac 4/15 loan balance was $80, 000, what is the interest due for the May cycle for a loan you are reinstating that was inactivated at a balance of $80,000 in the February cycle?<br><em>Please format your answer as a number followed by 2 decimal places (ex. ####.##). Do not include the dollar sign ($) or commas (,) in your answer.</em>&1600.00&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.040&esa&0&N&If the ANY is 8.000% and the 4/15 loan balance was $80,000, what is the total interest advanced credit for a loan with a transfer to REO date of 5/10/98, a DDLPI of 10/1/97 and an inactivation of February 98?<br><em>Please format your answer as a number followed by 2 decimal places (ex. ####.##). Do not include the dollar sign ($, commas (,), or the negative sign (-) in your answer.</em>&2133.00&&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.041&nrt&0&N&What amount goes in field #1 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.042&nrt&0&N&What amount goes in field #2 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.043&nrt&0&N&What amount goes in field #3 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.044&nrt&0&N&What amount goes in field #4 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.045&nrt&0&N&What amount goes in field #5 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.046&nrt&0&N&What amount goes in field #6 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.047&nrt&0&N&What amount goes in field #7 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.048&nrt&0&N&What amount goes in field #8 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.049&mcs&0&N&Which example below correctly indicates a <b>paper adjustment</b>?&Freddie Mac $1200 / GPI $1200&Freddie Mac $500 / GPI $0;Freddie Mac $0/ GPI $500;Freddie Mac $0 / GPI $200;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.050&nrt&0&N&What amount goes in field #9 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.051&nrt&0&N&What amount goes in field #10 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.052&nrt&0&N&What amount goes in field #11 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.053&nrt&0&N&What amount goes in field #12 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.054&nrt&0&N&What amount goes in field #13 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.055&nrt&0&N&What amount goes in field #14 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.056&nrt&0&N&What amount goes in field #15 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.057&nrt&0&N&What amount goes in field #16 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.058&nrt&0&N&What amount goes in field #17 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.059&nrt&0&N&What amount goes in field #18 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.060&nrt&0&N&What amount goes in field #19 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.061&nrt&0&N&What amount goes in field #20 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.062&nrt&0&N&What amount goes in field #21 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.063&nrt&0&N&What amount goes in field #22 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.064&nrt&0&N&What amount goes in field #23 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.065&nrt&0&N&What amount goes in field #24 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.066&nrt&0&N&What amount goes in field #25 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.067&nrt&0&N&What amount goes in field #26 on the chargeoff worksheet?&20&&&&&&SP.0&&&&&1&&&N.
|
||
|
|
irtest2.068&nrt&0&N&What amount goes in field #1 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.069&nrt&0&N&What amount goes in field #2 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.070&nrt&0&N&What amount goes in field #3 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.071&nrt&0&N&What amount goes in field #4 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.072&nrt&0&N&What amount goes in field #5 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.073&nrt&0&N&What amount goes in field #6 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.074&nrt&0&N&What amount goes in field #7 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.075&nrt&0&N&What amount goes in field #8 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.076&nrt&0&N&What amount goes in field #9 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.077&nrt&0&N&What amount goes in field #10 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.078&nrt&0&N&What amount goes in field #11 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.079&nrt&0&N&What amount goes in field #12 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.080&nrt&0&N&What amount goes in field #13 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.081&nrt&0&N&What amount goes in field #14 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.082&nrt&0&N&What amount goes in field #15 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.083&nrt&0&N&What amount goes in field #16 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.084&nrt&0&N&What amount goes in field #17 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.085&nrt&0&N&What amount goes in field #18 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.086&nrt&0&N&What amount goes in field #19 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.087&nrt&0&N&What amount goes in field #20 on the ARM worksheet?&20&&&&&&ARM.0&&&&&1&&&N.
|
||
|
|
irtest2.088&mcs&0&N&The time period covered by the Seller/Servicer Remittance Analysis (Cash Statement) is for __________&An Accounting Cycle&A Calendar Month;A Fiscal Quarter;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.089&tf&0&N&The Amount Received columns (excluding the corrections column) on the Seller/Servicer Remittance Analysis (Cash Statement) are calculated on what you made available through GPI for the time period.&TRUE&FALSE&&&&&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.090&nrt&0&N&What amount goes in field #3 on the foreclosure worksheet?&20&&&&&&TPS.0&&&&&1&&&N.
|
||
|
|
irtest2.091&mcs&0&N&If a loan is purchased/funded by Freddie Mac on 2/5, when do you report interest for the first time?&The March cycle&The January cycle;The February cycle;The April cycle;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.092&mcs&0&N&If a loan is purchased/funded by Freddie Mac on 7/21, when do you report interest for the first time?&The August cycle&The June cycle;The July cycle;The September cycle;&&&&a&GEN.0&&&&&1&&&N.
|
||
|
|
irtest2.093&mcs&0&Y&You must have pre-approval from Freddie Mac to repurchase a loan except under the following circumstances:&None of the above&When you have a funding error between $1,000 and $5,000;When the Freddie Mac UPB is less than $10,000;When the loan is an ARM loan prior to its first change date;All of the above;&&&&a&undefined.0&&&&&1&&&N.
|
||
|
|
irtest2.094&nrt&0&N&What amount goes in field #5 on the foreclosure worksheet?&20&&&&&&TPS.0&&&&&1&&&N.
|
||
|
|
irtest2.095&nrt&0&N&What amount goes in field #6 on the foreclosure worksheet?&20&&&&&&TPS.0&&&&&1&&&N.
|
||
|
|
irtest2.096&nrt&0&N&What amount goes in field #7 on the foreclosure worksheet?&20&&&&&&TPS.0&&&&&1&&&N.
|
||
|
|
irtest2.097&nrt&0&N&What amount goes in field #8 on the foreclosure worksheet?&20&&&&&&TPS.0&&&&&1&&&N.
|
||
|
|
irtest2.098&nrt&0&N&What amount goes in field #1 on the foreclosure worksheet?&20&&&&&&TPS.0&&&&&1&&&N.
|
||
|
|
irtest2.099&nrt&0&N&What amount goes in field #2 on the foreclosure worksheet?&20&&&&&&TPS.0&&&&&1&&&N.
|
||
|
|
irtest2.100&mcs&0&N&If a loan is inactivated in the April cycle and reinstated in the July cycle, how many months of reinstatement interest are due Freddie Mac in the July cycle?&3 months of reinstatement interest&0 months of reinstatement interest;1 months of reinstatement interest;2 months of reinstatement interest;&&&&a&GEN.0&&&&&1&&&N.
|