| TRID - The Reason We Drink | Loan Estimates & Initial Disclosures | AB Mortgage Products | Closing Disclosures | Misc Mortgage Morsels |
|---|---|---|---|---|
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When is Thursday, January 19th.
Application received on Friday, January 13, 2023. When does the initial LE need to be delivered by?
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What are pages 1 and 2
What page(s) can you find the taxes and insurance on a loan estimate?
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What is our rate sheets
Where can we locate AB Mortgage prodcuts?
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What is False
True or False; when disclosing your CD, Saturdays are not included.
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What is Name, Income, Social Security Number, Property Address, Estimated Value, and Loan Amount
What are the six pieces required for a complete application?
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When is Wednesday, January 11th.
If an initial loan estimate is sent out on Tuesday, January 3, 2023; when is the earliest that we can close?
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What is Intent to Proceed
What disclosure is required back from the customer before we can request financials?
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What is on AB Connect
Where can we locate Mortgage Rate Sheets?
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What is PP Docs
Where can you find an official list of APR fees?
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What is the Owner Title Policy and Deed of Trust
What documents are the non-borrowing spouse required on?
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What is True
True or False: when the interest rate is changed you must redisclose?
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What is 12 calendar days
How many days in advance of closing must the Notice of Extension of Credit must be given?
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What is False
True or False; all AB mortgage products have caps.
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What is False
True or False; if the loan amount changes, the CD must be redisclosed and a new three day waiting period begins.
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What is True
True or False; a right of rescission is not required on a cash-out investment property.
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What is the increase in APR, the addition of a prepayment penalty, and the change of loan product
What three items are required for redisclosure?
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What is estimated value or sales price multiplied by .75% and by 1.25%
When calculating insurance estimate on the affiliated business disclosure, what formula do you use?
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What is 15 years
What is the max term for an AB land loan?
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What is False
True or False; the realtor information is not required on page 5 of the CD.
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What is False
True or False; a deed of trust is only required on a purchase transaction.
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What is an application or a change of circumstance
What triggers our RESPA Clock?
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What is six
If a loan closes in March and the first payment is May, how many months in reserves do we collect for taxes?
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What is 80%
What is the max LTV on a Home Equity loan?
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What is the appraisal, the survey, the LTP, and endorsements
What fees are excluded from the Home Equity 2% rule?
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What is.................
What are areas of personal growth you would like to dig into in 2023?
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