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CHAMPIONS SCHOOL OF REAL ESTATE - REAL ESTATE FINANCE QUESTIONS AND ANSWERS UPDATED 2024 -25
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CHAMPIONS SCHOOL OF REAL ESTATE - REAL ESTATE FINANCE QUESTIONS AND ANSWERS UPDATED 2024 -25
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CHAMPIONS SCHOOL OF REAL ESTATE - REAL ESTATEFINANCE QUESTIONS AND ANSWERS UPDATED 2024 -25
A,, loan,, unable,, to,, be,, sold,, to,, Fannie,, Mae,, or,, Freddie,, Mac,, (i.e.,, A,, sub-prime,, loan),, ,, ANS,, -,, ,,
Non-Conforming,, Loan
VA,, ,, ANS,, -,, ,, Veteran's,, administration,, -,, assists,, veterans,, in,, the,, purchase,, of,, housing,, by,,
guaranteeing,, loans)
Seller's,, equity,, ,, ANS,, -,, ,, Cash,, price,, minus,, the,, loan,, balance
A,, clause,, often,, found,, in,, a,, blanket,, loan,, allowing,, the,, borrower,, to,, obtain,, partial,, releases,, of,,
specific,, lots,, by,, making,, required,, lump,, sum,, payments.,, ,, ANS,, -,, ,, Release,, Clause
One,, percent,, of,, a,, loan,, that,, is,, a,, loan,, processing,, fee,, ,, ANS,, -,, ,, Origination,, Point
The,, repayment,, or,, satisfaction,, of,, a,, debt,, by,, installment,, payments,, of,, principal,, and,, interest,,
on,, a,, regular,, basis.,, ,, ANS,, -,, ,, Amortization
A,, law,, allowing,, individuals,, to,, inspect,, their,, credit,, files,,, correct,, errors,, and,, attach,, explanatory,,
statements.,, ,, ANS,, -,, ,, Fair,, Credit,, Reporting,, Act,, (FCRA)
A,, law,, requiring,, lenders,, to,, meet,, the,, needs,, of,, the,, community,, in,, which,, they,, are,, chartered,,
to,, do,, business.,, ,, ANS,, -,, ,, Community,, Reinvestment,, Act
A,, clause,, allowing,, a,, lender,, to,, move,, to,, or,, take,, a,, lower,, lien,, position.,, ,, ANS,, -,, ,,
Subordination,, Clause
A,, loan,, whose,, payments,, start,, low,, and,, rise,, every,, year,,, usually,, for,, five,, years,,, after,, which,,
they,, level,, off,, for,, the,, remaining,, term,, of,, the,, loan,, -,, can,, result,, in,, negative,, amortization.,, ,,
ANS,, -,, ,, Graduated,, Payment,, Mortgage,, (GPM)
, An,, increase,, in,, debt,, due,, to,, payments,, less,, than,, the,, interest,, owed,, -,, can,, be,, associated,, with,,
a,, graduated,, payment,, mortgage.,, ,, ANS,, -,, ,, Negative,, Amortization
TIL,,, REG,, Z,,, Regulation,, Z,,, or,, the,, Consumer,, Credit,, Protection,, Act,, -,, a,, law,, passed,, to,, help,,
consumers,, understand,, the,, true,, cost,, of,, borrowing,, money.,, ,, ANS,, -,, ,, Truth,, in,, Lending
Buyer's,, Equity,, ,, ANS,, -,, ,, The,, down,, payment,, amount,, at,, closing.
DD,, 214,, ,, ANS,, -,, ,, Veteran's,, discharge,, papers,, -,, provided,, to,, demonstrate,, eligibility,, for,, a,, VA,,
loan.
A,, loan,, secured,, by,, real,, property,, plus,, personal,, property.,, ,, ANS,, -,, ,, Package,, loan
An,, upfront,, payment,, of,, points,, used,, to,, reduce,, the,, borrower's,, monthly,, payment,, -,, by,, paying,,
points,, at,, closing,, a,, borrower,, may,, secure,, a,, lower,, rate,, on,, the,, loan.,, ,, ANS,, -,, ,, Buy,, Down
A,, clause,, outlining,, the,, obligations,, of,, the,, original,, borrower,, and,, a,, new,, borrower,, in,, the,,
event,, the,, loan,, is,, assumed.,, ,, ANS,, -,, ,, Assumption,, Clause
Lender,, under,, a,, mortgage,, ,, ANS,, -,, ,, Mortgagee
The,, action,, of,, pledging,, real,, property,, as,, security,, for,, a,, debt,, ,, ANS,, -,, ,, Hypothecation
A,, loan,, with,, an,, investor/lender,, who,, collects,, principal,, and,, interest,, payments,, and,, then,, a,,
percent,, of,, the,, profits,, when,, the,, property,, is,, sold.,, ,, ANS,, -,, ,, Shared,, Appreciation,, Loan
Borrower,, under,, a,, mortgage,, ,, ANS,, -,, ,, Mortgagor
A,, loan,, that,, is,, neither,, federally,, insured,, nor,, guaranteed,, -,, a,, private,, sector,, loan.,, ,, ANS,, -,, ,,
Conventional,, Loan
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