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Lenders and Title Information

All answers have been provided by our PLATINUM PARTNERS shown above.
From left to right, Ben Seamon, Kayla Dodd, Brad Chastain and Matt Helton.

Please make sure you enter your first and last name before starting your quiz! Your results will go to the email address you provide here. You will also receive a certificate that you can post on Social Media.
You will want your first and last name on the certificate.

 

1 / 20

1. The State of Tennessee “good funds law” says that for buyers bringing OVER $1,000 to closing, acceptable forms of payment are:

This answer supplied by Kayla Dodd with Advance Title. To contact Kayla, CLICK HERE.

 

2 / 20

2. Is a survey required for a closing in TN?

This answer supplied by Kayla Dodd with Advance Title. To contact Kayla, CLICK HERE.

3 / 20

3. What does the term “simultaneous issue” mean?

This answer supplied by Kayla Dodd with Advance Title. To contact Kayla, CLICK HERE.

 

4 / 20

4. True or False:  Real estate agents are require to attend their client closings in the State of TN?

This answer supplied by Kayla Dodd with Advance Title. To contact Kayla, CLICK HERE.

5 / 20

5. When the title company talks about the legal description, they are referring to:

This answer supplied by Kayla Dodd with Advance Title. To contact Kayla, CLICK HERE.

 

6 / 20

6. What is the minimum credit score required by lenders for FHA loans?

This answer provided by Brad Chastain with FCM Mortgage. To contact Brad, CLICK HERE.

7 / 20

7. What is an FHA Amendatory Clause?

This answer provided by Brad Chastain with FCM Mortgage. To contact Brad, CLICK HERE.

8 / 20

8. Who pays for the termite letter on VA loans.

This answer provided by Brad Chastain with FCM Mortgage. To contact Brad, CLICK HERE.

9 / 20

9. What does THDA Stand for?

This answer provided by Brad Chastain with FCM Mortgage. To contact Brad, CLICK HERE.

10 / 20

10. Does Closing Cost Come off the Sales Price of the Home Since Buyers are Paying this Out of Pocket at Closing?

This answer provided by Brad Chastain with FCM Mortgage. To contact Brad, CLICK HERE.

11 / 20

11. How long is an FHA appraisal good for?

This answer provided by Matt Helton with One Trust Home Loans. To contact Matt, CLICK HERE.

12 / 20

12. What is Fannie Mae?

This answer provided by Matt Helton with One Trust Home Loans. To contact Matt, CLICK HERE.

13 / 20

13. What is MIP and Why Is it Charged?

This answer provided by Matt Helton with One Trust Home Loans. To contact Matt, CLICK HERE.

14 / 20

14. What does PITI stand for?

This answer provided by Matt Helton with One Trust Home Loans. To contact Matt, CLICK HERE.

15 / 20

15. Is child support counted as a debt if the paying spouse has not actually been paying it?

This answer provided by Matt Helton with One Trust Home Loans. To contact Matt, CLICK HERE.

16 / 20

16. What is an Alta Statement?

This answer provided by Ben Seamon with Bell and Alexander Title. To contact Ben, CLICK HERE.

17 / 20

17. Can a power of attorney be used if the property is in one state and the POA is from another state?

This answer provided by Ben Seamon with Bell and Alexander Title. To contact Ben, CLICK HERE.

18 / 20

18. Can someone be on the Deed to the property that is not on the loan?

This answer provided by Ben Seamon with Bell and Alexander Title. To contact Ben, CLICK HERE.

19 / 20

19. Does the Title Company always hold the earnest money?

This answer provided by Ben Seamon with Bell and Alexander Title. To contact Ben, CLICK HERE.

20 / 20

20. Who is suppose to pay for the title policy?

This answer provided by Ben Seamon with Bell and Alexander Title. To contact Ben, CLICK HERE.

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