REAL 4000 Uga test 3 Latest Updated 2024/2025 Actual Questions and Answers Fully Solved 100% Guaranteed Success.(Graded A+)
9 views 0 purchase
Course
REAL 4000 Uga
Institution
REAL 4000 Uga
Mortgage bankers are highly leveraged - Very sensitive to disruptions in the loan making and
selling pipeline and can fail in days
Alt-A loans - Conventional loans with less stringent underwriting requirements
higher LVT
lower credit scores
reduced documentation of income or assets
Somewhere ...
REAL 4000 Uga test 3
Mortgage bankers are highly leveraged - Very sensitive to disruptions in the loan making and
selling pipeline and can fail in days
Alt-A loans - Conventional loans with less stringent underwriting requirements
higher LVT
lower credit scores
reduced documentation of income or assets
Somewhere in between conventional and subprime in terms of quality.
Commercial banks - Depository lenders that typically made business-related real estate loans and
only home loans for business clients.
They are also involved in large scale construction lending and warehouse credit lines for mortgage
bankers.
Residential real estate was not a priority but they still take up a decent amount of the market because of
how massive they are
Conforming loan - A loan that meets the standards required for Fannie Mae or Freddie Mac to
purchase them
Conventional mortgages - mortgages that do not have loan insurance or are not part of a
government program
Cost Approach - Based on the faulty assumption that cost of production is an indication of value.
Is useful for setting an upper limit on the market value of the property and is used if no other data is
available
, Deed in Lieu Foreclosure - Borrower transfers ownership of the property to the lender and lender
cancels the borrowers debt
Deficiency judgment - A personal judgment levied against the borrower when a foreclosure sale
does not produce sufficient funds to pay the mortgage debt in full.
Defualt - any failure to live up to the terms of the note or mortgage
Depository lenders - Are financial intermediaries: the pool other peoples money together for the
purpose of large scale uses.
Are portfolio lenders: create loans and retain them in portfolio of investments
Direct capitalization - Market value = Year 1 net operating income/ Cap rate
Effective gross income - The amount of income the property is actually expected to generate in a
year.
Elements of comparison - The key determinants of value
Location
age
size
style
etc.
Equity of redemption - Describes what the borrower must do to stop the foreclosure process and
retain ownership of the property.
Usually can be stopped up to the day of the foreclosure sale.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller PatrickKaylian. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
