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Mortgage

Authored by Andrea Ferreto

Professional Development

Professional Development

Used 98+ times

Mortgage
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11 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

On which mortgage types the PITI is always included?

VA and HELOC

FHA and Conventional

VA and FHA

FHA and Equity Loans

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What’s the correct “Account Type” for a Home Equity Line of Credit?

Revolving

Mortgage Loan

Installment

Open

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What’s the correct “Account Type” for a Conventional Mortgage?

Revolving

Mortgage Loan

Installment

Open

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does P.I.T.I. stands for?

Payment, interest, taxes and insurance

Principal, interest, taxes and insurance

Payment, principal, taxes and insurance

Property, interest, taxes and insurance

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does it mean that the terms are reported as “REV” on a revolving account?

Interest payments only

Interest and principal payment

Principal payments only

Principal and taxes payment

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What types of accounts do always include LPM and NPD on the verbiage?

Auto loan and Home Equity/HELOC

Mortgage and HELOC

Mortgage and Installment

Mortgage and Revolving

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the “Loan type” on a private mortgage account?

VA Real Estate Mortgage

Second mortgage

FHA Real Estate Mortgage

Conventional Real Estate Mortgage

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