CRU Cheat Sheet 2026

The 30 highest-yield CRU facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Which documentation practice best supports legal defensibility? → Objective, factual entries with specific measurements and timestamps
2. Why is payment history critical in credit scoring? → It shows repayment behavior
3. For a salaried borrower, how many years of W-2s does Fannie Mae typically require to document employment income? → Two years
4. Which form is most commonly used by appraisers for a standard single-family residential appraisal on a conventional loan? → Form 1004
5. What does a debt-to-income (DTI) ratio help determine? → Borrower's ability to repay debts
6. What is the primary obligation of a certified professional regarding patient/client confidentiality? → Protect all personal information and disclose only with proper authorization
7. Which condition may lead to loan denial during underwriting? → Low credit score
8. What does a loan approval typically require? → Verified income, creditworthiness, and acceptable appraisal
9. Which of the following is considered a red flag in credit risk assessment? → Multiple recent credit inquiries
10. An underwriter notices the appraiser used comparables located more than one mile from the subject in a dense urban neighborhood. What concern should this raise? → The distance may indicate the appraiser could not find truly comparable local sales
11. What is considered a good debt-to-income (DTI) ratio for mortgage approval? → Below 36%
12. What is the appropriate retention period for professional records? → As specified by state/federal law and professional licensing requirements
13. What is the foundation of effective client advisory services? → Understanding client needs, goals, and risk tolerance through thorough discovery
14. When analyzing self-employed borrower income using Schedule C (sole proprietor), the underwriter adds back which of the following to net profit? → Depreciation and depletion deductions
15. What is a SWOT analysis used for? → Evaluating Strengths, Weaknesses, Opportunities, and Threats for strategic planning
16. How should variance analysis be used in financial management? → To identify and investigate significant differences between planned and actual results
17. A borrower receives rental income from an investment property. When is rental income from a subject property eligible to offset the mortgage payment? → When 75% of the gross rents exceed the PITIA of the subject property
18. Which of the following is considered compensating factor in underwriting? → A strong credit history
19. When faced with a conflict of interest, what is the appropriate course of action? → Disclose the conflict and recuse yourself from the situation
20. What IRS form does an underwriter typically use to verify a borrower's reported income directly with the IRS? → Form 4506-C
21. When a borrower has a condo unit, what type of insurance does the condo association typically carry that affects the underwriter's insurance review? → A master policy covering the common areas and often the building shell or walls-in
22. What type of underwriting uses software algorithms? → Automated underwriting
23. Fannie Mae's Collateral Underwriter (CU) assigns risk scores to appraisals on a scale of 1 to 5. What does a CU score of 5 indicate? → The appraisal has the highest risk flags and likely overvaluation concerns
24. What is the role of a credit analyst? → Assess borrower credit risk
25. What distinguishes excellent client service from adequate service? → Proactive anticipation of client needs and personalized attention
26. When reviewing an appraisal for a condominium unit, which additional document should the underwriter obtain to assess project eligibility? → Condo project approval documentation and homeowner association financial statements
27. What document is commonly used to assess borrower income? → W-2 or tax returns
28. How should strategic objectives be defined? → Using SMART criteria: Specific, Measurable, Achievable, Relevant, Time-bound
29. Which statement about an 'as-is' versus 'as-completed' appraisal is correct in the context of a renovation loan? → 'As-completed' reflects the projected value after planned renovations are finished
30. What is the purpose of an ALTA/NSPS Land Title Survey in residential lending? → To identify the boundaries, improvements, encroachments, and easements of the property