Hoạt động cấp khoản vayCâu 275 / 400
During processing, the borrower opens a new credit card and finances furniture before closing. Why can this jeopardize the loan?
a.New debt can raise the debt-to-income ratio and change the approval, especially if a soft re-pull occurs before closing
b.It has no effect once the application is submitted
c.It automatically lowers the interest rate
d.It guarantees a faster closing
Giải thích
New debt taken on during processing increases monthly obligations and the debt-to-income ratio. Lenders often re-verify credit shortly before closing, and new accounts can invalidate the approval or delay closing. Borrowers are typically advised to avoid new credit until after closing.
Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- An appraiser adjusts a comparable that has an extra bathroom compared to the subject property. In the sales comparison approach, adjustments are made to the:
- At settlement on a purchase, property taxes are 'prorated' between buyer and seller. What does proration accomplish?
- A borrower's DU findings return 'Refer/Eligible.' What does this typically mean for the file?
- A title commitment lists Schedule B exceptions. What are these exceptions?
- An underwriter must calculate qualifying income for a borrower paid $22/hour working a standard 40-hour week. What is the correct gross monthly income (using 2,080 hours annually)?
- A lender orders a 'desktop' or 'hybrid' appraisal instead of a full appraisal on an eligible loan. What distinguishes these from a traditional appraisal?
Cập nhật gần nhất: · quy trình kiểm tra
Đội Ngũ Biên Tập PrepPass · Đối chiếu với NMLS SAFE Mortgage Loan Originator National Test · Quy trình kiểm tra