30+ S N Mohanty Interview Questions and Answers

Credit segment, income calculation, and DTI calculation are important factors in assessing creditworthiness.

• Credit segment refers to the type of credit a borrower has, such as credit cards, auto loans, or mortgages.

• Income calculation involves determining a borrower's total income, including salary, bonuses, and other sources of income.

• DTI calculation is the debt-to-income ratio, which is calculated by dividing a borrower's total debt by their total income.

• Lenders use these fa...read more

Identifying red flags in income and property documentation is crucial for accurate analysis and risk assessment.

• Inconsistent income sources: If income varies significantly month-to-month without explanation, it may indicate instability.

• Unverifiable income: Documentation lacking third-party verification, such as pay stubs or tax returns, raises concerns.

• Discrepancies in reported income: Differences between stated income and tax returns or bank statements can signal potential f...read more

Property value and condition are influenced by location, market trends, property features, and economic factors.

• Location: Proximity to schools, parks, and public transport can enhance value. For example, properties in urban areas often command higher prices.

• Market Trends: Supply and demand dynamics affect property values. A booming economy can lead to increased property prices.

• Property Features: Size, layout, and amenities (like pools or modern kitchens) can significantly imp...read more

Criteria for including income credit report information

• The income credit report should include information on the borrower's income sources and amounts

• The report should also include information on the borrower's employment history and stability

• The credit report should be up-to-date and accurate

• The report should be obtained from a reliable credit reporting agency

• The report should comply with all applicable laws and regulations

Yes, I have used git commands extensively in my role as a Test Lead.

• git clone - used to clone a repository onto your local machine

• git add - used to stage changes for commit

• git commit -m 'message' - used to commit changes with a descriptive message

• git push - used to push changes to a remote repository

• git pull - used to fetch and merge changes from a remote repository

• git branch - used to create, list, delete, or switch branches

• git merge - used to merge changes from one branch i...read more

Design patterns are reusable solutions to common software design problems. Singleton and Factory are two popular design patterns.

• Singleton pattern ensures that only one instance of a class is created and provides a global point of access to it.

• Factory pattern provides an interface for creating objects in a superclass, but allows subclasses to alter the type of objects that will be created.

• Design patterns help in creating flexible, reusable, and maintainable code.

• Other popular...read more

Imaging is the process of creating visual representations of objects or structures. It can be implemented on Windows OS using various software and hardware tools.

• Imaging involves capturing, processing, and displaying visual information

• Windows OS supports various imaging formats such as JPEG, PNG, BMP, and GIF

• Imaging can be implemented on Windows OS using software tools like Adobe Photoshop, GIMP, and Paint.NET

• Hardware tools like scanners, cameras, and printers can also be use...read more

The 4 Cs of underwriting are character, capacity, capital, and collateral.

• Character refers to the borrower's credit history and reputation.

• Capacity refers to the borrower's ability to repay the loan based on income and expenses.

• Capital refers to the borrower's assets and net worth.

• Collateral refers to the borrower's pledged assets that can be seized if the loan is not repaid.

Yes, I am familiar with the US mortgage industry.

• The US mortgage industry is a key component of the country's housing market.

• It involves lenders providing funds to borrowers for purchasing real estate.

• There are various types of mortgages available, such as fixed-rate mortgages and adjustable-rate mortgages.

• The industry is heavily regulated to protect consumers and ensure financial stability.

• The 2008 financial crisis had a significant impact on the US mortgage industry.

Rental income is calculated by multiplying the monthly rent by 12 months.

• Multiply monthly rent by 12 to get annual rental income

• Include any additional income from parking or laundry facilities

• Subtract any expenses such as property taxes or maintenance costs

• Net rental income is used to determine creditworthiness

A rental agreement is a legal contract outlining terms between a landlord and tenant for property rental.

• Defines the rental period, e.g., one year lease.

• Specifies rent amount and payment due dates, e.g., $1,200 monthly.

• Outlines responsibilities for maintenance and repairs.

• Includes rules for property use, e.g., no pets allowed.

• Details the process for terminating the agreement.

The question is asking for a reply within a specific timeline.

• Ensure to provide a clear and concise answer

• Highlight the importance of meeting deadlines in the mortgage underwriting process

• Give an example of how you have successfully replied within a timeline in a previous role

Income calculation for self-employed individuals involves analyzing tax returns, profit and loss statements, and other financial documents.

• Review tax returns to determine net income

• Analyze profit and loss statements to assess business income

• Consider additional sources of income such as rental properties or investments

• Calculate average monthly income over a specified period

• Verify consistency of income over time

Creating a Page Object Model framework in Selenium for efficient test automation

• Create separate classes for each web page or component

• Define locators and methods for interacting with elements in each class

• Use inheritance to organize and reuse common methods and locators

• Implement a base class for setting up the WebDriver instance and common methods

• Use TestNG or JUnit for test execution and reporting

Mortgage is a loan used to purchase real estate, with the property serving as collateral for the loan.

• A mortgage is a type of loan specifically used for purchasing real estate.

• The property being purchased serves as collateral for the loan.

• Mortgages typically have fixed or adjustable interest rates.

• Borrowers make monthly payments to repay the loan over a set period of time.

• If the borrower fails to make payments, the lender can foreclose on the property.

Configuring an operating system involves setting up various system settings and preferences to optimize performance and functionality.

• Choose the appropriate operating system for your needs

• Install the operating system on your computer or device

• Configure system settings such as network settings, display settings, and power settings

• Install necessary drivers and software

• Update the operating system and software regularly

• Implement security measures such as firewalls and antivirus s...read more

FHA loans are government-backed mortgages designed to help low-to-moderate income borrowers qualify for home financing.

• FHA stands for Federal Housing Administration, which insures these loans.

• Lower down payment requirements, often as low as 3.5%.

• Credit score requirements are more lenient compared to conventional loans.

• FHA loans can be used for purchasing single-family homes, multi-family homes, and certain types of condos.

• Mortgage insurance is required for FHA loans, which pr...read more

ReactJs life cycle is a series of methods that are invoked in a specific order when a component is created, updated or destroyed.

• Mounting: constructor(), static getDerivedStateFromProps(), render(), componentDidMount()

• Updating: static getDerivedStateFromProps(), shouldComponentUpdate(), render(), getSnapshotBeforeUpdate(), componentDidUpdate()

• Unmounting: componentWillUnmount()

• Error Handling: static getDerivedStateFromError(), componentDidCatch()

CICD stands for Continuous Integration/Continuous Deployment. Jenkins is a popular automation tool used for CICD.

• CICD is a software development practice where code changes are automatically built, tested, and deployed frequently.

• Jenkins is an open-source automation server used to automate the non-human part of the software development process.

• Jenkins allows for continuous integration, continuous delivery, and continuous deployment of software projects.

• Example: Developers comm...read more

I review appraisal reports by analyzing the property details, market trends, comparables, and ensuring accuracy.

• Examine property details such as size, condition, location, and amenities

• Evaluate market trends and conditions affecting property value

• Compare the subject property with similar properties (comparables) to determine value

• Verify accuracy of data and calculations in the report

Loans can be categorized into various types based on purpose, repayment terms, and security.

• Personal Loans: Unsecured loans for personal use, e.g., medical expenses.

• Mortgage Loans: Secured loans for purchasing real estate, e.g., home loans.

• Auto Loans: Secured loans specifically for purchasing vehicles.

• Student Loans: Loans designed to cover educational expenses, e.g., federal student loans.

• Business Loans: Loans for business purposes, e.g., small business loans.

A credit report is a detailed record of an individual's credit history, including credit accounts, payment history, and credit inquiries.

• Contains information on credit accounts, such as credit cards, loans, and mortgages

• Shows payment history, including on-time payments and late payments

• Includes details on credit inquiries made by lenders or creditors

• Used by lenders to assess an individual's creditworthiness

Assignment of mortgage is the transfer of a mortgage from one party to another.

• It involves the transfer of the mortgage from the original lender to another party, such as a new lender or a third-party investor.

• The new party assumes the rights and responsibilities of the original lender, including the right to collect payments and foreclose on the property if necessary.

• Assignments of mortgage are typically recorded in public land records to provide notice to interested parties...read more

Use Selenium code to take a screenshot

• Import the necessary Selenium libraries

• Create a WebDriver instance

• Use the getScreenshotAs method to take the screenshot

The version of .NET Core used is [insert version number here].

• The current version of .NET Core is 3.1.

• It is important to specify the version used in order to ensure compatibility with other software components.

• Examples of version numbers include 2.1, 2.2, and 3.0.

Clustered index determines the physical order of data in a table while non-clustered index creates a separate structure.

• Clustered index is faster for retrieving large amounts of data in a sequential order.

• Non-clustered index is faster for retrieving small amounts of data in a random order.

• A table can have only one clustered index but multiple non-clustered indexes.

• Clustered index is automatically created on the primary key of a table.

• Non-clustered index requires additional di...read more

A mortgage is a loan used to purchase real estate, with the property serving as collateral for the loan.

• Mortgages are typically long-term loans, often lasting 15 to 30 years.

• The borrower makes monthly payments to the lender, which include both principal and interest.

• If the borrower fails to make payments, the lender can foreclose on the property.

• Interest rates on mortgages can be fixed or adjustable.

• Common types of mortgages include conventional, FHA, VA, and USDA loans.

DTI is calculated by dividing total monthly debt payments by gross monthly income.

• Add up all monthly debt payments including mortgage, car loans, credit card payments, etc.

• Divide the total monthly debt payments by gross monthly income.

• Multiply the result by 100 to get the DTI percentage.

• For example, if total monthly debt payments are $2000 and gross monthly income is $6000, DTI would be (2000/6000)*100 = 33.33%.

Income can be calculated by adding up all sources of revenue and subtracting any expenses.

• Calculate total revenue from all sources (e.g. salary, investments, rental income)

• Subtract any expenses (e.g. rent, utilities, groceries)

• The result is the calculated income

Dependency Injection is a design pattern used to achieve loose coupling between objects and their dependencies.

• DI is used to provide objects with their dependencies rather than having them create their own.

• It helps in achieving loose coupling between objects and their dependencies.

• DI can be implemented using constructor injection, property injection, or method injection.

• In .NET Core, DI is built-in and can be used by registering services with the built-in container.

• DI helps i...read more

Appraisal is the evaluation or assessment of someone or something.

• Appraisal is a process of assessing the performance, value, or quality of someone or something.

• It is commonly used in performance appraisals in the workplace to evaluate an employee's work.

• Real estate appraisals are used to determine the value of a property.

• Art appraisals assess the value of artwork.

• Performance appraisals are used to evaluate an employee's job performance.

• 360-degree appraisals involve feedback ...read more

A title report is a document that provides information about the ownership history of a property.

• Contains details about the current owner of the property

• Lists any liens, encumbrances, or restrictions on the property

• May include information about easements, property boundaries, and legal descriptions

• Used by buyers, sellers, and lenders in real estate transactions

OOPs is a programming paradigm based on the concept of objects, which can contain data and code.

• Encapsulation - bundling of data and methods that manipulate the data

• Inheritance - ability of a class to inherit properties and methods from a parent class

• Polymorphism - ability of objects to take on many forms

• Abstraction - hiding of complex implementation details from the user

• Example: A car object can have properties like color, model, and methods like start, stop, accelerate

• Examp...read more

Types of mortgages include fixed-rate, adjustable-rate, FHA, VA, and jumbo loans.

• Fixed-rate mortgages have a set interest rate for the entire term of the loan.

• Adjustable-rate mortgages have an interest rate that can change periodically.

• FHA loans are insured by the Federal Housing Administration and often require lower down payments.

• VA loans are guaranteed by the Department of Veterans Affairs and are available to eligible veterans and active duty service members.

• Jumbo loans e...read more