A mortgage team asks an operations lead about conforming loan limits during a mortgage operations checklist. Which answer should guide the file?
Correct Answer
B) Check high-cost-area limits before classifying the loan
FHFA conforming loan limits define maximum principal amounts for Fannie Mae and Freddie Mac acquisition. The best answer is "Check high-cost-area limits before classifying the loan".
Why This Is the Correct Answer
FHFA conforming loan limits define maximum principal amounts for Fannie Mae and Freddie Mac acquisition. The best answer is "Check high-cost-area limits before classifying the loan".
More Mortgage Knowledge Questions
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