CHAMPIONS - REAL ESTATE FINANCE BUNDLED EXAM!!CHAMPIONS - REAL ESTATE FINANCE BUNDLED EXAM!!CHAMPIONS - REAL ESTATE FINANCE BUNDLED EXAM!!CHAMPIONS - REAL ESTATE FINANCE BUNDLED EXAM!!CHAMPIONS - REAL ESTATE FINANCE BUNDLED EXAM!!CHAMPIONS - REAL ESTATE FINANCE BUNDLED EXAM!!
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Loan-to-Value Ratio (LTV) - ANSWERSThe percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortga...
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Add to cartLoan-to-Value Ratio (LTV) - ANSWERSThe percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortga...
mortgage Broker - ANSWERFunctions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - ANSWERProvide their own funds for the purpose of providing mortgage financing Correspondent Lender - ANSWERSmaller ...
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Add to cartmortgage Broker - ANSWERFunctions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - ANSWERProvide their own funds for the purpose of providing mortgage financing Correspondent Lender - ANSWERSmaller ...
_____ is the consummation of a contractual real estate transaction in which all appropriate documents are signed, and the mortgage loan proceeds are disbursed by the lender. - ANSWERClosing The primary determinants of real estate values are supply and _____. - ANSWERDemand _____ is something o...
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Add to cart_____ is the consummation of a contractual real estate transaction in which all appropriate documents are signed, and the mortgage loan proceeds are disbursed by the lender. - ANSWERClosing The primary determinants of real estate values are supply and _____. - ANSWERDemand _____ is something o...
Origination - ANSWERThe process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower Credit reports will be ordered, in most cases from all three major national credit reporting agencies: - ANSWERExperian, Equifax, and TransUnion Not all cred...
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Add to cartOrigination - ANSWERThe process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower Credit reports will be ordered, in most cases from all three major national credit reporting agencies: - ANSWERExperian, Equifax, and TransUnion Not all cred...
Loan Processing - ANSWERSThe process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision. Underwriting - ANSWERSThe process of evaluating a borrower's loan application to determine the risk involved for the lender. Fundin...
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Add to cartLoan Processing - ANSWERSThe process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision. Underwriting - ANSWERSThe process of evaluating a borrower's loan application to determine the risk involved for the lender. Fundin...
Loan Processing - ANSWERSThe process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision Underwriting - ANSWERSThe process of evaluating a borrower's loan application to determine the risk involved for the lender Funding ...
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Add to cartLoan Processing - ANSWERSThe process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision Underwriting - ANSWERSThe process of evaluating a borrower's loan application to determine the risk involved for the lender Funding ...
Congress created the Federal Housing Administration in - ANSWERS1934 In order to qualify for exemption from capital gains, the property must have been the primary residence for two of the previous ___ years - ANSWERS5 years A loan with no discount points is known as a - ANSWERSPar loan What...
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Add to cartCongress created the Federal Housing Administration in - ANSWERS1934 In order to qualify for exemption from capital gains, the property must have been the primary residence for two of the previous ___ years - ANSWERS5 years A loan with no discount points is known as a - ANSWERSPar loan What...
Federal National Mortgage Association (FNMA) known as, Fannie Mae - ANSWERSbegan in 1938 as an agency of the federal government In 1968, Fannie Mae became a privately owned and managed corporation Fannie Mae operates exclusively in the secondary market and provides support to mortgage lending instit...
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Add to cartFederal National Mortgage Association (FNMA) known as, Fannie Mae - ANSWERSbegan in 1938 as an agency of the federal government In 1968, Fannie Mae became a privately owned and managed corporation Fannie Mae operates exclusively in the secondary market and provides support to mortgage lending instit...
VA loan requirements - ANSWERS· Must be honorably discharged · Must meet service requirements · Time frame of service; number of days active duty · Must obtain certificate of eligibility Loan terminology - origination, funding, underwriting, servicing - ANSWERS· Origination: Process of cr...
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Add to cartVA loan requirements - ANSWERS· Must be honorably discharged · Must meet service requirements · Time frame of service; number of days active duty · Must obtain certificate of eligibility Loan terminology - origination, funding, underwriting, servicing - ANSWERS· Origination: Process of cr...
Character, Credit Score, Capacity, Capitol, and Collateral - ANSWERSWhat do creditors use to approve loans? Par Loan - ANSWERSA loan that is made at the current market rate of interest. Origination - ANSWERSThe process of creating a new mortgage loan, including all steps taken by a lender, to ...
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Add to cartCharacter, Credit Score, Capacity, Capitol, and Collateral - ANSWERSWhat do creditors use to approve loans? Par Loan - ANSWERSA loan that is made at the current market rate of interest. Origination - ANSWERSThe process of creating a new mortgage loan, including all steps taken by a lender, to ...
Mortgage - ANSWERSA pledge of real property as security for a debt. Deed of Trust - ANSWERSA three party loan instrument - borrower, lender and trustee. Note, Promissory Note - ANSWERSA personal promise to repay a debt. Mortgagor - ANSWERSBorrower under a mortgage Mortgagee - ANSWERSLend...
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Add to cartMortgage - ANSWERSA pledge of real property as security for a debt. Deed of Trust - ANSWERSA three party loan instrument - borrower, lender and trustee. Note, Promissory Note - ANSWERSA personal promise to repay a debt. Mortgagor - ANSWERSBorrower under a mortgage Mortgagee - ANSWERSLend...
A __________ is a permanent change in one or more of the terms of a borrower's loan. Loan Qualification Loan Modification Loan Approval Loan Origination - ANSWERSLoan Modification What time period must borrowers have in job history with the same employer to qualify? 2 months 6 mo...
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Add to cartA __________ is a permanent change in one or more of the terms of a borrower's loan. Loan Qualification Loan Modification Loan Approval Loan Origination - ANSWERSLoan Modification What time period must borrowers have in job history with the same employer to qualify? 2 months 6 mo...
VA Loan Requirements - ANSWERS- must be honorably discharged - must meet service requirements - time frame of service; number of days active duty - must obtain certificate of eligibility (COE) Loan Terminology - origination, funding, underwriting, servicing - ANSWERS1) Origination - process of...
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Add to cartVA Loan Requirements - ANSWERS- must be honorably discharged - must meet service requirements - time frame of service; number of days active duty - must obtain certificate of eligibility (COE) Loan Terminology - origination, funding, underwriting, servicing - ANSWERS1) Origination - process of...
The process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower are _____. - ANSWERSOrigination activities The process of evaluating a borrower's loan application to determine the risk involved for the lender is - ANSWERSUnderwriting Which ...
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Add to cartThe process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower are _____. - ANSWERSOrigination activities The process of evaluating a borrower's loan application to determine the risk involved for the lender is - ANSWERSUnderwriting Which ...
A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) - ANSWERNon-Conforming Loan VA - ANSWERVeteran's administration - assists veterans in the purchase of housing by guaranteeing loans) Seller's equity - ANSWERCash price minus the loan balance A clause often found...
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Add to cartA loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) - ANSWERNon-Conforming Loan VA - ANSWERVeteran's administration - assists veterans in the purchase of housing by guaranteeing loans) Seller's equity - ANSWERCash price minus the loan balance A clause often found...
appurtenance - ANSWERSterm used to describe rights, privileges or improvements that belong to and pass with the land improvements - ANSWERSman's additions to the land such as building and landscaping personal property - ANSWERSalso called chattel or personalty; a right or interest in smiting ...
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Add to cartappurtenance - ANSWERSterm used to describe rights, privileges or improvements that belong to and pass with the land improvements - ANSWERSman's additions to the land such as building and landscaping personal property - ANSWERSalso called chattel or personalty; a right or interest in smiting ...
For all practical purposes, an "Alienation Clause" is basically the same as a: a) Call Clause b) Acceleration Clause c) Due on Sale Clause d) Defeasance Clause - ANSWERSc) Due on Sale Clause When the lender determines the amount of money to loan to a borrower by using a percentage of the pr...
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Add to cartFor all practical purposes, an "Alienation Clause" is basically the same as a: a) Call Clause b) Acceleration Clause c) Due on Sale Clause d) Defeasance Clause - ANSWERSc) Due on Sale Clause When the lender determines the amount of money to loan to a borrower by using a percentage of the pr...
Secondary Mortgage Market - ANSWERSMarket where existing mortgages are bought and sold Mortgages - ANSWERSWhat is used for collateral for mortgage related securities? Reduces reliance on deposits - ANSWERSWhat is the effect of the secondary mortgage market with respect to lender reliance on de...
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Add to cartSecondary Mortgage Market - ANSWERSMarket where existing mortgages are bought and sold Mortgages - ANSWERSWhat is used for collateral for mortgage related securities? Reduces reliance on deposits - ANSWERSWhat is the effect of the secondary mortgage market with respect to lender reliance on de...
The sequence of the five-step financing process is generally Funding/Closing, Servicing - ANSWERSApplication, Analysis/Processing, Qualifying/Underwriting, Funding/Closing, Servicing The Federal Reserve System consists of __ reserve districts, and __ board members. - ANSWERS12/7 interest-bear...
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Add to cartThe sequence of the five-step financing process is generally Funding/Closing, Servicing - ANSWERSApplication, Analysis/Processing, Qualifying/Underwriting, Funding/Closing, Servicing The Federal Reserve System consists of __ reserve districts, and __ board members. - ANSWERS12/7 interest-bear...
Mortgage - ANSWERSThe document that pledges property as collateral for a loan is called a __________________. Mortgagor - ANSWERSOne who gives the mortgage to the lender is the ________________. Mortgagee - ANSWERSOne who receives the mortgage (the lender) is the _______________. Trustee - ...
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Add to cartMortgage - ANSWERSThe document that pledges property as collateral for a loan is called a __________________. Mortgagor - ANSWERSOne who gives the mortgage to the lender is the ________________. Mortgagee - ANSWERSOne who receives the mortgage (the lender) is the _______________. Trustee - ...
Mortgage Loans - ANSWERSMost common choice for financing real property. Can be conventional or non-conventional Conventional Loan - ANSWERSNeither federally insured nor guaranteed Non-conventional Loan - ANSWERSFederally insured/guaranteed mortgage loans to encourage ownership (FHA, VA, USDA) ...
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Add to cartMortgage Loans - ANSWERSMost common choice for financing real property. Can be conventional or non-conventional Conventional Loan - ANSWERSNeither federally insured nor guaranteed Non-conventional Loan - ANSWERSFederally insured/guaranteed mortgage loans to encourage ownership (FHA, VA, USDA) ...
The science that describes the management, creation, and study of money, banking, credit, investments, assets, and liabilities is - ANSWERSFinance Most real estate cycles in Texas are determined by: - ANSWERSSupply and demand __________________ measure(s) the wealth and resources of a particu...
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Add to cartThe science that describes the management, creation, and study of money, banking, credit, investments, assets, and liabilities is - ANSWERSFinance Most real estate cycles in Texas are determined by: - ANSWERSSupply and demand __________________ measure(s) the wealth and resources of a particu...
hypothication - ANSWERS bank giving you right to live in a house while you're paying for it title theory - ANSWERS live in it but don't own till paid off lien theory - ANSWERS owner while paying but bank has lien default - ANSWERS broke a promise, failure to comply with terms & conditions...
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Add to carthypothication - ANSWERS bank giving you right to live in a house while you're paying for it title theory - ANSWERS live in it but don't own till paid off lien theory - ANSWERS owner while paying but bank has lien default - ANSWERS broke a promise, failure to comply with terms & conditions...
Why do lenders collect reserve funds at the property closing? A) To get a higher yield in their investment B) To be sure money will be available for tax and insurance purposes C) To have extra money that will accrue interest D) To hedge against increases in taxes or insurance premiums - ANSWER...
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Add to cartWhy do lenders collect reserve funds at the property closing? A) To get a higher yield in their investment B) To be sure money will be available for tax and insurance purposes C) To have extra money that will accrue interest D) To hedge against increases in taxes or insurance premiums - ANSWER...
Real Estate Finance - ANSWERSThe study of the institutions, markets and instruments used to transfer money and credit for the purpose of developing or acquiring real property. Real Property - ANSWERSThe rights, power, and privileges associated with the use of real estate. Real Estate - ANSWERS...
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Add to cartReal Estate Finance - ANSWERSThe study of the institutions, markets and instruments used to transfer money and credit for the purpose of developing or acquiring real property. Real Property - ANSWERSThe rights, power, and privileges associated with the use of real estate. Real Estate - ANSWERS...
Three of the major credit data repositories: - ANSWERSExperian, Equifax, TransUnion The process of creating a new mortgage loan: - ANSWERSOrigination Loan application to determine the risk involved for lender is defined as: - ANSWERSUnderwriting Fiscal policy, which is related to Federal Go...
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Add to cartThree of the major credit data repositories: - ANSWERSExperian, Equifax, TransUnion The process of creating a new mortgage loan: - ANSWERSOrigination Loan application to determine the risk involved for lender is defined as: - ANSWERSUnderwriting Fiscal policy, which is related to Federal Go...
origination - ANSWERSprocess of creating a new mortgage loan funding - ANSWERSThe process of transferring funds to a title or escrow company for disbursement underwriting - ANSWERSprocess of evaluating a borrowers loan application to determine the risk involved for the lender servicing - AN...
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Add to cartorigination - ANSWERSprocess of creating a new mortgage loan funding - ANSWERSThe process of transferring funds to a title or escrow company for disbursement underwriting - ANSWERSprocess of evaluating a borrowers loan application to determine the risk involved for the lender servicing - AN...
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