6 Which of the following is not a factor that private mortgage insurance companies consider when ...
6 Which of the following is not a factor that private mortgage insurance companies consider when they set their rates and coverage parameters? Oa. Loan amount and loan type O b. LTV and the borrower's credit score c. Borrower's age and familial status 7 The waiver clause in a promissory note states that all parties to the contract are waiving the right of: b. alienation. O c. assumption d. unconditional promise of payment 8 The Uniform Residential Appraisal Report (URAR) describes work that is used to develop which of the following? O a. Appraisal b. Assumptions O c. Limiting conditions O d. All of the choices a 19 Which of the follovwing is true regarding deficiency judgments? a. A deficiency judgment is a personal judgment against a borrower for the balance of a debt owed when the security for the loan is not sufficient to pay the debt. b. Depending on state law, once the lender decides to pursue foreclosure in a deed of trust, the lender cannot obtain a deficiency judgment against the trustor after the trustee sale. O c. The lender's ability to sue for a deficiency judgment against the borrower is dependent on the particular state's foreclosure laws. d. All of the choices a 20 The is a good-faith estimate of credit costs and transaction terms that replaces the HUD Good Faith Estimate (GFE) and the "early" Truth in Lending disclosure Oa. Loan Estimate b. Uniform Residential Loan Application O c. Equal Credit Opportunity Report Od. Credit Report
6 Which of the following is not a factor that private mortgage insurance companies consider when they set their rates and coverage parameters? Oa. Loan amount and loan type O b. LTV and the borrower's credit score c. Borrower's age and familial status 7 The waiver clause in a promissory note states that all parties to the contract are waiving the right of: b. alienation. O c. assumption d. unconditional promise of payment 8 The Uniform Residential Appraisal Report (URAR) describes work that is used to develop which of the following? O a. Appraisal b. Assumptions O c. Limiting conditions O d. All of the choices a 19 Which of the follovwing is true regarding deficiency judgments? a. A deficiency judgment is a personal judgment against a borrower for the balance of a debt owed when the security for the loan is not sufficient to pay the debt. b. Depending on state law, once the lender decides to pursue foreclosure in a deed of trust, the lender cannot obtain a deficiency judgment against the trustor after the trustee sale. O c. The lender's ability to sue for a deficiency judgment against the borrower is dependent on the particular state's foreclosure laws. d. All of the choices a 20 The is a good-faith estimate of credit costs and transaction terms that replaces the HUD Good Faith Estimate (GFE) and the "early" Truth in Lending disclosure Oa. Loan Estimate b. Uniform Residential Loan Application O c. Equal Credit Opportunity Report Od. Credit Report