NMLS Practice Test | 100% Correct Answers

Document Content and Description Below

1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days - ✔✔•90 days 2) A COFI index is defined as? Cost of funds index •Cost of fi... nancial index •Cost of funding insurance - ✔✔cost of fund index 3) Subordinate financing relates to •seller financing. •second mortgages. •financing in the secondary mortgage market. •subprime loans. - ✔✔second mortgage 4) Explain what Investors with non-recourse loans mean? •Borrower does not have any recourse on default •Borrower doesn't occupy the property •Borrower has 20% equity - ✔✔Borrower does not have any recourse on default 5) Which of the following is true of the COFI? [Show More]

Last updated: 1 year ago

Preview 1 out of 5 pages