NMLS

SETS THE GUIDELINES FOR WHAT ARE REFERRED TO AS CONFORMING LOANS:
A. FHLMC/ FREDDIE MAC
B. FCRA/ FEDERAL CONFORMING REQUIREMENTS ASSOCIATION
C. FNMA/ FANNIE MAE
D. BOTH A AND C

YOU CAN QUALIFY FOR A VA LOAN IF YOU
A. LIVE IN VIRGINIA
B. ARE RETIRED
C. SERVE AT LEAST 90 ACTIVE, CONTINUOUS DAYS IN THE US ARMED FORCES
D. WORK FOR THE MILITARY

WHEN YOU BORROW MORE THAN 80% OF A HOME'S VALUE, YOU HAVE TO PAY FOR:
A. FLOOD INSURANCE
B. TITLE INSURANCE
C. MORTGAGE INSURANCE
D. HAZARD INSURANCE

A HELOC IS A
A. COMPLICATED LOAN AVAILABLE TO GOVERNMENT EMPLOYEES
B. HOME EQUITY LINE OF CREDIT
C. FORM THAT MUST BE COMPLETED BY THE BORROWER WITHIN 3 DAYS OF APPLICATION
D. HOME EQUITY LAW OF CLOSING

PEOPLE CHOOSE TO WORK WITH MORTGAGE BROKERS AND BANKERS OVER BANKS AND OTHER DEPOSITORY INSTITUTION FOR
A. EXPERTISE AND PROFESSIONALISM
B. VARIED LOAN CHOICES
C. CONVENIENCE, SPEED AND SERVICE
D. ALL OF THE ABOVE

THE PRIMARY MARKET IS DEFINED AS
A. ALL THE ACTIVITY INVOLVED IN THE ORIGINATION AND CLOSING OF A LOAN
B. WHERE CAPITAL IS LENT TO THE BORROWER
C. WHERE MORTGAGE BROKER AND MORTGAGE BANKERS ORIGINATE AND PROCESS MORTGAGE LOANS
D. ALL OF THE ABOVE

CURRENTLY KNOWN AS FANNIE MAE, THE FNMA WAS ORIGINALLY NAMED THE
A. FEDERAL NEW MORTGAGE ACT
B. FEDERAL NATIONAL MORTGAGE ASSOCATION
C. FEDERATION OF NATIONAL MORTGAGE AGENTS
D. FIDUCIARY NATIONAL MORTGAGE ASSOCIATION

EVIDENCE OF CLEAR OWNERSHIP
A. DEED
B. TITLE
C. DEED OF TRUST
D. OWNERSHIP IN SEVERALTY