Appraisal rev Study guides, Class notes & Summaries

The scope of work of an appraisal review assignment can involve: A. Checking the mathematical accuracy B. Determining regulatory compliance C. Developing an opinion of value D. All of the above - Answer- D In the case study, you were presented with a review assignment in a state in which you are not licensed. Which of the following statements is true regarding this assignment? A. You are unable to accept a review assignment on a property located in a state where you are not licensed ...

Amortization paying off a loan in equal installments; loan where the principal as well as the interest is payable in monthly or other periodic installments over the term of the loan. Discount Points A fee charged by the lender at settlement that results in increasing the lender's effective yield on the money borrowed. One discount point equals one percent of the loan amount. linear measurement measurement made on a line. The linear measure of a 4-foot square is 16 feet Loan Discou...

Texas Property Tax Consultant Exam Review Q & A Rated 100% Correct!!

2020-2021 15-hr National USPAP Course(updated) Questions with complete solution 2020-2021 15-hr National USPAP Course Who is responsible for issuing credentials to individual appraisers? - correct answer State appraiser regulatory agencies are responsible for receiving and processing applications for licensure and certification, and for issuing credentials to qualified individuals. Which is NOT a responsibility of the Appraisal Subcommittee (ASC)? - correct answer USPAP is written, int...

NMLS Final Exam Questions With Answers Latest Updated 2023-2024 | 100% Verified. TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage - ANSWER 3 business days Truth in lending disclosure must be delivered within how many business days prior to closing a reverse mortgage - ANSWER 7 days The APR must be finalized at least how many days before closing? - ANSWER 3 days A company with which a consumer has an establ...

The PREAMBLE states the purpose of USPAP is to maintain public ___ in the appraisal practice by establishing requirements for appraisers. - CORRECT ANSWER-trust USPAP benefits providers of appraisal services and - CORRECT ANSWER-users of appraisal services. Which is NOT considered significant real property appraisal assistance? - CORRECT ANSWER-collecting employment data for use in analysis A valuation service performed by an individual acting as an appraiser requires the appraiser to...

NMLS Exam Practice Questions With Answers - Latest Updated 2023-2024. Lender has how many days after settlement to refund any portion of charges on the HUD-1 that exceeded the acceptable variance - ANSWER 30 days TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage - ANSWER 3 business days Truth in lending disclosure must be delivered within how many business days prior to closing a reverse mortgage - ANSWER ...

NMLS Exam Questions With Answers Latest Updated 2023-2024 Graded A+. A lender has how many days to refund excessive variances on a Closing Disclosure? - ANSWER 60 days Lender has how many days after settlement to refund any portion of charges on the HUD-1 that exceeded the acceptable variance - ANSWER 30 days TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage - ANSWER 3 business days Truth in lending disclo...

NMLS Exam Questions With Answers Latest Updated 2024 (Graded A+) A lender has how many days to refund excessive variances on a Closing Disclosure? - ANSWER 60 days Lender has how many days after settlement to refund any portion of charges on the HUD-1 that exceeded the acceptable variance - ANSWER 30 days TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage - ANSWER 3 business days Truth in lending disclosure...

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