Nationwide Multistate Licensing System NMLS Quiz
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GENERAL MORTGAGE KNOWLEDGE
Question 1
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A borrower has irregular income from commissions. For DTI calculation purposes, what income averaging period is typically required?
A
Six months of commission history with year-to-date income verification
B
Twelve months of commission history with previous year tax return verification
C
Twenty-four months of commission history with two years tax return verification
D
Thirty-six months of commission history with three years business financial verification
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