Team 1
0
Team 2
0
Teams
Name
Score
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
Loading
5
×
What document do we check to verify the FHA case number?
FHA Case Number Assignment
Oops!
Check
Okay!
Check
15
×
Can the borrower receive cash back on an FHA Streamline?
Yes. If the amount is minimal, it should be sent to a manager for approval.
Oops!
Check
Okay!
Check
15
×
Which line items will we use the "Netting Escrow Calculator" to determine the amount that can be lender paid? List any 5.
#220, 903, 916, 909, 990, 991, 992, and 993 (only use these if collecting HOI or Taxes at closing)
Oops!
Check
Okay!
Check
10
×
Other than the FHA case number, what else do we verify on the FHA Case Number Assignment? Name 2.
Subject Property Address and spelling of each borrower's name
Oops!
Check
Okay!
Check
5
×
T or F? The âactual amountâ of lender credit must be equal to the highest lender credit disclosed on any LE or CD.
True
Oops!
Check
Okay!
Check
10
×
T or F? We can use fee line 220 for applying lender credits.
True, but it depends on what the calculator tells us...
Oops!
Check
Okay!
Check
20
×
What 3 items are we trying to BALANCE on FHA streamlines?
1. CTC 2. Meeting HLCD 3. Actual/max loan amounts
Oops!
Check
Okay!
Check
×
thief
Give points!
5
10
15
20
25
×
shark
Other team loses 20 points!
Okay!
×
rocket
Go to first place!
Okay!
×
baam
Lose 25 points!
Oops!
15
×
T or F? If the Actual Base Amount exceeds the Max Base Amount, the Actual Base Amount will need to be adjusted.
True - Max base amount is our target
Oops!
Check
Okay!
Check
15
×
What gets lender credited first - Line 220 or third-party fees?
Any third-party fees that are currently borrower paid
Oops!
Check
Okay!
Check
×
monster
Reset all scores!
Oops!
×
fairy
Take points!
5
10
15
20
25
×
gift
Win 20 points!
Okay!
×
lifesaver
Give 10 points!
Oops!
×
boom
Lose 50 points!
Oops!
×
fairy
Take points!
5
10
15
20
25
×
gift
Win 20 points!
Okay!
×
thief
Give points!
5
10
15
20
25
10
×
T or F? If the borrowers bottom line is showing as bringing cash to closing, we cannot lender pay 3rd party fees to help zero out their bottom line.
False
Oops!
Check
Okay!
Check
5
×
T or F: The borrower can NEVER bring cash to the closing table.
FALSE! The borrower may bring cash to the closing table equivalent to one (1) month of PITI if that is how the loan was sold.
Oops!
Check
Okay!
Check
5
×
How many months of escrow cushions are needed for FHA Streamline loans?
0
Oops!
Check
Okay!
Check
10
×
T or F? We can use fee line 1375 - Payoff Interest, to add lender credit.
True - but only as a last resort, as this will change your Max Base Loan Amount
Oops!
Check
Okay!
Check
×
Restart
Review
Join for Free
;
Your experience on this site will be improved by allowing cookies.
Allow cookies