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Xinnix SOAR Mock Exam Questions and Answers 100% Pass
Xinnix SOAR Mock Exam Questions and 
Answers 100% Pass 
A fixed-rate second mortgage has the loan amount fully disbursed at closing. Monthly 
payments are amortized over the term of the loan. Once the balance is paid off the 
mortgage is closed. - Answer- True 
A veteran may exchange a portion of their entitlement for cash. - Answer- False 
Judgments and tax liens are required to be paid off at or prior to loan closing. 
(FNMA/FHLMC) - Answer- True 
Gross rent may be considered effective income ...
- Exam (elaborations)
- • 7 pages •
Xinnix SOAR Mock Exam Questions and 
Answers 100% Pass 
A fixed-rate second mortgage has the loan amount fully disbursed at closing. Monthly 
payments are amortized over the term of the loan. Once the balance is paid off the 
mortgage is closed. - Answer- True 
A veteran may exchange a portion of their entitlement for cash. - Answer- False 
Judgments and tax liens are required to be paid off at or prior to loan closing. 
(FNMA/FHLMC) - Answer- True 
Gross rent may be considered effective income ...
Xinnix Flight School Study Questions and Answers 100% Pass
Xinnix Flight School Study Questions and 
Answers 100% Pass 
T or F - You are required to disclose why a loan was declined, if applicable, to the 
lender you are transferring a loan package to for all FHA and VA Loans - Answer- True 
What following repairs are allowed under the FHA 203(K) Standard Program - Answer- - 
Those allowed by 203(K) limited 
- converting a 1-family to a 2, 3, 4 family structure. 
- decreasing an existing multi unit structure to a one to four family structure 
- Reconstr...
- Exam (elaborations)
- • 5 pages •
Xinnix Flight School Study Questions and 
Answers 100% Pass 
T or F - You are required to disclose why a loan was declined, if applicable, to the 
lender you are transferring a loan package to for all FHA and VA Loans - Answer- True 
What following repairs are allowed under the FHA 203(K) Standard Program - Answer- - 
Those allowed by 203(K) limited 
- converting a 1-family to a 2, 3, 4 family structure. 
- decreasing an existing multi unit structure to a one to four family structure 
- Reconstr...
Xinnix Final Exam Questions and Answers 100% Pass
Xinnix Final Exam Questions and Answers 100% Pass 
A veteran has the ability to transfer a portion of their entitlement to another veteran. - 
Answer- False 
1. Gross rent may be considered effective income when an applicant is planning to rent 
their current residence after closing on the purchase of their new home. - Answer- False 
Based on the following scenario, does the borrower qualify within FNMA guidelines? 
PITI: $1,725 monthly 
Income: $7,000 
Debt: $700 car payment, $375 student loan ...
- Exam (elaborations)
- • 20 pages •
Xinnix Final Exam Questions and Answers 100% Pass 
A veteran has the ability to transfer a portion of their entitlement to another veteran. - 
Answer- False 
1. Gross rent may be considered effective income when an applicant is planning to rent 
their current residence after closing on the purchase of their new home. - Answer- False 
Based on the following scenario, does the borrower qualify within FNMA guidelines? 
PITI: $1,725 monthly 
Income: $7,000 
Debt: $700 car payment, $375 student loan ...
Xinnix Ground School Exam Questions and Answers 100% Pass
Xinnix Ground School Exam Questions and 
Answers 100% Pass 
Flipping is a scheme where several people each purchase a property within the 
neighborhood and then sell the properties to one another, inflating the price of the home 
with each sale. - Answer- False 
YTD paystubs will be requires from a borrower that is self-employed (schedule C) - 
Answer- False 
A borrower requesting a jumbo loan will qualify for an agency loan - Answer- False 
Trailing spouse income can be used for qualifying purp...
- Exam (elaborations)
- • 18 pages •
Xinnix Ground School Exam Questions and 
Answers 100% Pass 
Flipping is a scheme where several people each purchase a property within the 
neighborhood and then sell the properties to one another, inflating the price of the home 
with each sale. - Answer- False 
YTD paystubs will be requires from a borrower that is self-employed (schedule C) - 
Answer- False 
A borrower requesting a jumbo loan will qualify for an agency loan - Answer- False 
Trailing spouse income can be used for qualifying purp...
Xinnix SOAR Final Exam Questions and Answers 100% Pass
Xinnix SOAR Final Exam Questions and 
Answers 100% Pass 
FNMA and FHLMC are what type of loan? - Answer- conforming 
the main purpose of the Consumer financial protection bureau (CFPB) is to help 
consumers understand the terms of their agreements with financial companies - 
Answer- true 
conventional loans are not insured by the federal government - Answer- true 
Agency loans include FHA and VA loans - Answer- true 
the proceeds of a loan for cash out refinance may be used by the borrower to in...
- Package deal
- Exam (elaborations)
- • 55 pages •
Xinnix SOAR Final Exam Questions and 
Answers 100% Pass 
FNMA and FHLMC are what type of loan? - Answer- conforming 
the main purpose of the Consumer financial protection bureau (CFPB) is to help 
consumers understand the terms of their agreements with financial companies - 
Answer- true 
conventional loans are not insured by the federal government - Answer- true 
Agency loans include FHA and VA loans - Answer- true 
the proceeds of a loan for cash out refinance may be used by the borrower to in...
Xinnix Exam Questions and Answers 100% Pass
Xinnix Exam Questions and Answers 100% Pass 
Loans with an LTV >80% will typically require mortgage insurance. (FNMA/FHLMC) - 
Answer- True 
What is the maximum seller contribution allowed for a primary residence at 95% LTV? 
(FNMA/FHLMC) - Answer- 3% 
On an ARM, redisclosure of the Truth in Lending is required if the APR changes more 
than ____%? - Answer- .25 
FHA loans have both a BASE Loan Amount and Total Loan Amount - Answer- True 
A borrower's brother would like to give her money to h...
- Package deal
- Exam (elaborations)
- • 16 pages •
Xinnix Exam Questions and Answers 100% Pass 
Loans with an LTV >80% will typically require mortgage insurance. (FNMA/FHLMC) - 
Answer- True 
What is the maximum seller contribution allowed for a primary residence at 95% LTV? 
(FNMA/FHLMC) - Answer- 3% 
On an ARM, redisclosure of the Truth in Lending is required if the APR changes more 
than ____%? - Answer- .25 
FHA loans have both a BASE Loan Amount and Total Loan Amount - Answer- True 
A borrower's brother would like to give her money to h...
Xinnix Final Exam Questions and Answers 100% Pass
Xinnix Final Exam Questions and 
Answers 100% Pass 
On an FHA loan the upfront MIP should be included when calculating cash-to-close. - 
Answer- False 
The borrower must have 5% of their own funds when putting 15% down on a primary 
residence. (FNMA) - Answer- False 
A 3-Year ARM adjusts every 3 years - Answer- True 
A Loan Officer can locate the summary of the eligibility requirements for a loan to be 
sold to a specific lender/investor in the lender specs. - Answer- False 
A HELOC loan has an ...
- Package deal
- Exam (elaborations)
- • 17 pages •
Xinnix Final Exam Questions and 
Answers 100% Pass 
On an FHA loan the upfront MIP should be included when calculating cash-to-close. - 
Answer- False 
The borrower must have 5% of their own funds when putting 15% down on a primary 
residence. (FNMA) - Answer- False 
A 3-Year ARM adjusts every 3 years - Answer- True 
A Loan Officer can locate the summary of the eligibility requirements for a loan to be 
sold to a specific lender/investor in the lender specs. - Answer- False 
A HELOC loan has an ...
Xinnix Quiz Questions with 100% Correct Answers
Xinnix Quiz Questions with 100% Correct Answers 
Ginnie Mae was wholly created to purchase government mortgages on the secondary 
market - Answer- false 
which of the following was not a reason The Federal Housing Administration (FHA) was 
created - Answer- to simplify mortgage forms 
match in order of creation - Answer- 1st-FNMA 
2nd-GNMA 
3rd-FHLMC 
match the following - Answer- FNMA-fannie mae 
FHLMC-Freddie Mac 
what allowed more conventional mortgages to be originated in the early 1970s wit...
- Package deal
- Exam (elaborations)
- • 26 pages •
Xinnix Quiz Questions with 100% Correct Answers 
Ginnie Mae was wholly created to purchase government mortgages on the secondary 
market - Answer- false 
which of the following was not a reason The Federal Housing Administration (FHA) was 
created - Answer- to simplify mortgage forms 
match in order of creation - Answer- 1st-FNMA 
2nd-GNMA 
3rd-FHLMC 
match the following - Answer- FNMA-fannie mae 
FHLMC-Freddie Mac 
what allowed more conventional mortgages to be originated in the early 1970s wit...
XINNIX Mock Exam Review Questions and Answers 100% Pass
XINNIX Mock Exam Review Questions and 
Answers 100% Pass 
(T or F): If a borrower tells you about a liability that is not listed on the credit report, it 
doesn't need to be included on the loan application. - Answer- False 
What is the maximum seller contribution allowed for a primary residence below 75% 
LTV? (FNMA/FHLMC) - Answer- 9% 
(T or F) DU does not consider non-occupant income as qualifying income - Answer- 
True 
(T or F) HOA dues are included in the PITI calculation. - Answer- False...
- Package deal
- Exam (elaborations)
- • 10 pages •
XINNIX Mock Exam Review Questions and 
Answers 100% Pass 
(T or F): If a borrower tells you about a liability that is not listed on the credit report, it 
doesn't need to be included on the loan application. - Answer- False 
What is the maximum seller contribution allowed for a primary residence below 75% 
LTV? (FNMA/FHLMC) - Answer- 9% 
(T or F) DU does not consider non-occupant income as qualifying income - Answer- 
True 
(T or F) HOA dues are included in the PITI calculation. - Answer- False...
XINNIX FLIGHT SCHOOL EXAM QUESTIONS AND ANSWERS
XINNIX FLIGHT SCHOOL EXAM 
QUESTIONS AND ANSWERS 
The rate lock period for a refi, with a right of rescission, must be long enough to cover 
the rescission period. - Answer- True 
How long does a borrower have to wait to buy a home after they have had a 
foreclosure? FHA - Answer- 3 years 
What are the steps you should follow to determine the correct MI? - Answer- LTV, term, 
product type, occupancy type and coverage. 
Typically, files that have to be manually underwritten are subject to less st...
- Package deal
- Exam (elaborations)
- • 18 pages •
XINNIX FLIGHT SCHOOL EXAM 
QUESTIONS AND ANSWERS 
The rate lock period for a refi, with a right of rescission, must be long enough to cover 
the rescission period. - Answer- True 
How long does a borrower have to wait to buy a home after they have had a 
foreclosure? FHA - Answer- 3 years 
What are the steps you should follow to determine the correct MI? - Answer- LTV, term, 
product type, occupancy type and coverage. 
Typically, files that have to be manually underwritten are subject to less st...
Xcel Solutions Property & Casualty Exam Questions and Answers
INSY-3303 FINAL EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS
the answers are incorrect
Product Owner/ Product Manager(POPM) SAFe Agile Exam Questions and Answers
CT DMV Knowledge Test 100% Correct Solved
Fiscal Law Final Exam QUESTIONS AND ANSWERS RATED A+ 2023|2024 UPDATE