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Questions and Answers
Which of the following is a common reason for conducting a mortgage review?
Which of the following is a common reason for conducting a mortgage review?
- To evaluate the property value
- To assess the borrower's creditworthiness (correct)
- To determine the current interest rates
- To compare mortgage lenders
What is the purpose of evaluating the property value during a mortgage review?
What is the purpose of evaluating the property value during a mortgage review?
- To evaluate the borrower's income
- To estimate the monthly mortgage payment
- To determine the down payment amount
- To assess the property's marketability (correct)
Why is it important to compare mortgage lenders during a mortgage review?
Why is it important to compare mortgage lenders during a mortgage review?
- To determine the lender's reputation
- To assess the lender's eligibility criteria
- To compare closing costs and fees (correct)
- To find the lender with the highest interest rates
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