Finley is training a new MLO on VA loan eligibility and occupancy. Which statement is accurate?
Correct Answer
B) Recognize VA guarantees the lender against covered loss
VA-backed loans use VA eligibility, occupancy, guaranty, and funding-fee concepts. The best answer is "Recognize VA guarantees the lender against covered loss".
Why This Is the Correct Answer
VA-backed loans use VA eligibility, occupancy, guaranty, and funding-fee concepts. The best answer is "Recognize VA guarantees the lender against covered loss".
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