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MRT 1 · Understanding DIP Mechanics
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Understanding DIP Mechanics
What a DIP is, the difference between hard and soft search, and that it is not a mortgage offer.
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Key points
Question 3
Which term matches: "soft or hard credit search; income stated (not verified); property not yet identified"
Question 4
What does "Soft search DIP" mean?
Question 5
Match each term in "Key points" to its meaning
Tap a term, then tap its matching definition.
Question 6
Fill in the blank
______ — Records an application on credit file — visible to other lenders
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What the exam tests
What a DIP is, the difference between hard and soft search, and that it is not a mortgage offer.
Question 8
True or false?
What a DIP is, the difference between hard and soft search, and that it is not a mortgage offer