Team 1
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Team 2
0
Teams
Name
Score
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×
boom
Lose 50 points!
Oops!
×
gold
Win 50 points!
Okay!
×
shark
Other team loses 25 points!
Okay!
×
thief
Give points!
5
10
15
20
25
×
boom
Lose 50 points!
Oops!
×
fairy
Take points!
5
10
15
20
25
×
rocket
Go to first place!
Okay!
×
banana
Go to last place!
Oops!
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
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
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
5
×
What document do we check to verify the FHA case number?
FHA Case Number Assignment
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
10
×
Where in EDMS does the Netted Escrow Calculator get uploaded?
Category- Closing Document- Closing Miscellaneous
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
15
×
If there was an escrow disbursement for monthly mortgage insurance (code E56), do you need to run a new payoff in Sagent?
No! Only for an escrow disbursement of HOI or taxes.
Oops!
Check
Okay!
Check
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
×
banana
Go to last place!
Oops!
×
shark
Other team loses 20 points!
Okay!
×
shark
Other team loses 15 points!
Okay!
×
thief
Give points!
5
10
15
20
25
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
×
T or F? Lender credits may be figured into line 1374 on an FHA. However, a calculation needs to be done to see how much you can put into line 1375.
True
Oops!
Check
Okay!
Check
5
×
How many months of escrow cushions are needed for FHA Streamline loans?
0
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
×
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