Parker is training a new MLO on FHA loan-program requirements. Which statement is accurate?
Correct Answer
B) Use FHA underwriting and mortgage-insurance requirements
FHA loans are HUD-insured loans governed by FHA policy and mortgage-insurance rules. The best answer is "Use FHA underwriting and mortgage-insurance requirements".
Why This Is the Correct Answer
FHA loans are HUD-insured loans governed by FHA policy and mortgage-insurance rules. The best answer is "Use FHA underwriting and mortgage-insurance requirements".
More Mortgage Knowledge Questions
A branch supervisor asks Cameron how to handle conforming loan limits. What should Cameron recommend?
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During quality control, Elliot finds a file issue involving processing and underwriting review. Which action is most appropriate?
A borrower scenario raises a question about HELOC and open-end credit rules and open-end credit rules. Which answer should Frankie rely on?
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during a conventional and conforming loan rules review, a branch supervisor identifies an issue involving conventional and conforming loan rules. Which response is most compliant?
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