Team 1
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Team 2
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Teams
Name
Score
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monster
Reset all scores!
Oops!
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fairy
Take points!
5
10
15
20
25
×
gift
Win 10 points!
Okay!
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baam
Lose 20 points!
Oops!
10
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True or false: A confirmed Successor in Interest has the same right to information as the borrower has?
True
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10
×
Which department handles the Successor in Interest confirmation process?
Correspondence and Research
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20
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What are the TWO types of Assumptions?
Full Assumption, Simple Assumption
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thief
Give points!
5
10
15
20
25
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gift
Win 25 points!
Okay!
×
shark
Other team loses 25 points!
Okay!
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lifesaver
Give 25 points!
Oops!
10
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What is ONE negative for getting an assumable mortgage?
Higher down payment, Mortgage Insurance, Limited loan options
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10
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True or false: All FHA, VA and Conventional loans are assumable?
False
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15
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What is a Successor in Interest?
A person who has an ownership interest in a home
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10
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How long does the Assumption process take, from completed application to close?
45-60 days
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monster
Reset all scores!
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seesaw
Swap points!
Okay!
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gift
Win 10 points!
Okay!
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thief
Give points!
5
10
15
20
25
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lifesaver
Give 20 points!
Oops!
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gift
Win 25 points!
Okay!
×
shark
Other team loses 10 points!
Okay!
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lifesaver
Give 10 points!
Oops!
10
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Name ONE of the three status' that can be seen on the CUSTOMER NAME SCREEN within LoanServ regarding the SII Application
Potential SII, Pending SII, Confirmed SII
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10
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True or false: A Successor in Interest can only occur when there has been a death of the property owner.
False
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10
×
Other than low interest rates, what is ONE benefit of an assumable mortgage?
Capped closing costs, long term savings
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