A loan team is about to close a file involving FHA loan-program requirements. Which action should occur first?
Correct Answer
A) Treat FHA insurance separately from conventional PMI
FHA loans are HUD-insured loans governed by FHA policy and mortgage-insurance rules. The best answer is "Treat FHA insurance separately from conventional PMI".
Why This Is the Correct Answer
FHA loans are HUD-insured loans governed by FHA policy and mortgage-insurance rules. The best answer is "Treat FHA insurance separately from conventional PMI".
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