HP Test
HP Test: Master Your Knowledge
Welcome to the HP Test quiz! This quiz is designed to assess your understanding of critical documents and processes related to the wholesale and servicing aspects of the industry. Whether you are looking to refresh your knowledge or prove your expertise, this quiz will provide valuable insights.
Key Features:
- 10 engaging multiple-choice questions
- Focus on real-world applications
- Score and review your answers instantly
Which of the following documents need to merge in Preliminary Title Commitment in Wholesale Process?
All Deed, Title fees, Title invoice, Map/survey, Note
All Deed, Title fees, Security Instrument, Map/survey
Title fees, Security Instrument, Note, Security Rider
Security Instrument, Note, Security Rider, Title fees
Which one of the following circumstances will not send for extraction in Servicing Process?
Closing Disclosure, Security Instrument, URLA, FHA Case Number Assignment.
Preliminary Title Commitment, W-9, Security Instrument, Loan Application
Closing Disclosure, Appraisal, URLA, Note
Loan Estimate, W-2, Bank Statement, Credit Report
What are the latest updates in Corr- ADR?
Lock Conformation index Lock Conformation.
Order IRRRL Case index VA Case number assignment
Loan Modification Closing Cost Breakdown Index Loan Modification Agreement.
All the above
What are we going to tag if we receive 17 days (about 2 and a half weeks) Paystub wholesale?
Biweekly
Weekly
Will not tag
Semi-monthly
If you receive separate URLA for borrower and co-borrower, then which will go for extraction in servicing?
Both will go for extraction
Only primary borrower URLA goes for extraction
Only Additional borrower URLA goes for extraction
Both will not go for extraction
Which closing disclosure will go for extraction in Corr-ADR?
Oldest date issue and latest borrower signature date
Latest date issue and latest co-borrower signature date
Latest date issue and latest borrower signature date
Oldest date issue and latest co-borrower signature date
What will we index if we receive Payment request management" and "View transaction detail in Corr-ADR?
Payment History
V.A Funding fee
FHA MIP Payment
V.A Lender Certificate
What will we index if receive first Payment details in Servicing transfer statement in Corr-ADR?
Servicing transfer statement
First Payment letter
Servicing Disclosure
Mortgage Statement
Which one of the following circumstances will tagged in Corr- ADR?
Appraisal, URLA, LP Finding, Mortgage insurance certificate
Loan Estimate, Appraisal, Closing Disclosure, UCDP submission summary report
UCDP submission summary report, URLA, LP Finding, Closing Disclosure
Loan Estimate, Appraisal, LP Finding, Mortgage insurance certificate
Which following option is incorrect?
Payment request management index V.A. Funding Fee
Mortgage Rate Quote Index Mortgage Insurance Disclosure
Preliminary Title Commitment index title commitment
Order IRRRL Case index VA Case number assignment
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