19. According to DU, what type of loan would you be doing if you were paying off a purchase money first lien of $100,000.00 and the borrower is walking away with $3,000.00 at closing. A) Rate and term refinance B) Cash-out refinance 35. Your borrower's cash for closing is coming from a loan against the 401k funds. What documentation would you require if the loan file was targeted to Freddie Mac? A) Most recent statement and conditions under which the funds may be withdrawn or borrowed plus evidence of liquidation B) No documentation is necessary

19. According to DU, what type of loan would you be doing if you were paying off a purchase money first lien of $100,000.00 and the borrower is walking away with $3,000.00 at closing. A) Rate and term refinance B) Cash-out refinance 35. Your borrower's cash for closing is coming from a loan against the 401k funds. What documentation would you require if the loan file was targeted to Freddie Mac? A) Most recent statement and conditions under which the funds may be withdrawn or borrowed plus evidence of liquidation B) No documentation is necessary

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 14P

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Similar questions

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