Champions Real Estate Finance Current Exams Bundle ,Guaranteed Success 2024.

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...

Which of the following is CHATTEL - Answer A. Detached garage B. Attached satellite dish owned by the seller. C. WASHER/DRYER - CORRECT D. In-ground pool Allows for unequal shares of ownership. - Answer A. TENANTS IN COMMON - CORRECT B. Joint Tenancy C. Tenancy by the entirety D. Freeh...

Loan Processing - Answer The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision. Underwriting - Answer The process of evaluating a borrowers loan application to determine the risk involved for the lender. Fund...

if you are holding undeveloped land, your goal as an investment is: - Answer appreciation land is referred to as _____ because it can be seen touched - Answer tangible Formaldehyde gas is: - Answer Colorless Local governments can use which of the following to enforce subdivision requi...

The science that describes the management, creation, and study of money, banking, credit, investments, assets, and liabilities is - Answer Finance Most real estate cycles in Texas are determined by: - Answer Supply and demand __________________ measure(s) the wealth and resources of a par...

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 - Answer Loan Modification What time period must borrowers have in job history with the same employer to qualify? 2 months 6 ...

The minimum downpayment on a VA loan is: (a) 2% of the sales price (b) 0% of the sales price (c) 3.75% of the sales price (d) 1% of the sales price - Answer B _________ is the process of creating a new mortgage loan. (a) Origination (b) Funding (c) Underwriting (...

personal property that is often included with real estate is called - Answer chattel a fuidciary relationship is - Answer a personal with a relationship of finanical trust, a special agency reglationship The federal reserve is empowered to - Answer Set, oversee and contraol an estates...

Origination - Answer The 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: - Answer Experian, Equifax, and TransUnion Not al...

Buyer Representation Agreement - Answer An employment contract obligating a broker to act as a fiduciary to a buyer Implied Agency - Answer Agency as a result of customary, usual or typical conditions Broker - Answer A properly licensed party who serves a principal in an agency relations...

mortgage Broker - Answer Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer ...

_____ 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. - Answer Closing The primary determinants of real estate values are supply and _____. - Answer Demand _____ is somet...

Loan-to-Value Ratio (LTV) - Answer The 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 Mort...