SOFE Exam AFE Topic 3 Question 1 Discussion

Actual exam question for SOFE's AFE exam

Question #: 1
Topic #: 3

Evidences the fair market value of the property that is security for the mortgage loan. The appraisal value is used to determine that the loan to market value ratio is in compliance with regulatory requirements. It also is used to determine any non-admitted mortgage loan amount. Appraisals are obtained from:

AIndependent, qualified appraisers

BThe company's own qualified appraisers

CFederal Housing Administration

DAny one out of A and B

Show Suggested Answer

Suggested Answer: D

by Jesusa at May 05, 2022, 08:32 PM

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