Trid 20 - Study guides, Class notes & Summaries

Real Estate Exam Practice Questions and Answers Updated 2023/2024 Graded 100%. A buyer with a 15-year, $250,000 loan at a 5.5% interest rate has a monthly principal and interest payment totaling $2,042.71. What;s the total amount the borrower will pay back over the life of the loan? - (answer)-$367,687.80 You're explaining to your client that using electronic documents and signatures simplifies the home buying process. Your client is skeptical about these signatures. You describe the Unifo...

20-HR SAFE Comprehensive Mortgage Loan Originator Fundamentals HW Exam Questions With Verified Answers Mortgage loan originators who make cold calls must comply with the requirements of the National Do-Not-Call rules. The loan originator needs to update any download of the registry at least every: 31 days 18 Months 7 days Year - answer31 Days The appraisal approach that is used as the best indicator of value for existing properties is: Similar property approach Fair market value appr...

Real Estate Final Exam Questions and Answers Updated 2023/2024 Graded 100%. Which of these is NOT an example of price fixing? - (answer)-Jake's firm agrees to charge all clients a listing commission of between 2% and 2.5% To Make Valid Computations of adjustments for the sales comparison approach to value, elements of comparison must be applied in a specific order. Which of these elements listed has the highest priority? - (answer)-Conditions of Sales A buyer with a 15-year, $250,000 loan ...

Real Estate Final Exam Questions and Answers Latest Update 2023/2024 Graded A+. When property changes hands, the deed is recorded. There's a fee for recording, so why would anyone choose to pay this fee? - (answer)-It puts the public on notice regrading ownership. Which of these is NOT an example of price fixing? - (answer)-Jake's firm agrees to charge all clients a listing commission of between 2% and 2.5% To Make Valid Computations of adjustments for the sales comparison approach to va...

Usury MOST nearly means - Answer A: illegal interest. Each state sets its own ceiling for the maximum interest rate lenders may charge. Rates above that ceiling are considered ________ and ______. No reputable lender exceeds those rates and those that make a practice of it are commonly known as loan sharks. - Answer usurious and illegal. Which of the following describes a mortgage that requires principal and interest payments at regular intervals and is called the liquidation of debt by pe...

STATE (Nebraska) Real Estate Practice Exam 1 Questions and Answers 100% Pass Restrictive Covenants - Answer- prohibit all future owners from certain actions or modifications of their property and placed by private parties, consistency and desirability of a neighborhood Closing Disclosure, a statement of actual charges and adjustments, to the borrower by the lender - Answer- The TRID form, TILA-RESPA escrow accounts that accumulate funds from closing costs and monthly payments to ensure t...

Default - Answer When no payments made after 60 to 90 days... 30 for FHA loans Front-End Ratio Equation - Answer Monthly housing expenses/gross monthly income Front-End Ratio maximums - Answer 28% or less - conventional loan 31% or less for FHA, 30% or less for rentals Back-End Ratio (Debt-to-Income) Equation - Answer total monthly debt expenses/gross monthly income Back-End Ratio Caps - Answer 36% for conventional loans and renters, 43% for FHA, 45% for Energy Efficiency Mortgage l...

Housing Counselor Exam Prep Questions & Answers Already Passed!! Default When no payments made after 60 to 90 days... 30 for FHA loans Front-End Ratio Equation Monthly housing expenses/gross monthly income Front-End Ratio maximums 28% or less - conventional loan 31% or less for FHA, 30% or less for rentals Back-End Ratio (Debt-to-Income) Equation total monthly debt expenses/gross monthly income Back-End Ratio Caps 36% for conventional loans and renters, 43% for FHA, 45% for Energy E...

RMLO 20-HR SAFE Class QUESTIONS AND ANSWERS A+ GRADED. Buy Quality Materials! Mortgage loan originators who make cold calls must comply with the requirements of the National Do-Not-Call registry and the Do-Not-Call rules. The loan originator needs to update any download of the registry every: 31 days The appraisal approach that is used as the best indicator of value for existing properties is: Market Data Approach The Equal Credit Opportunity Act is implemented by the CFPB's: Regula...

RMLO 2023 QUESTIONS AND ANSWERS A+ GRADED. Buy Quality Materials! Which of the following transactions are covered by the TRID rule? (TILA-RESPA Integrated Disclosures) Construction loans The CFPB's Final Rule prohibits residential mortgage loan originator compensation be based on which of the following? Yield spread premium of a mortgage loan Under the Red Flags Rules, mortgage loan originators must develop a written program that identifies and detects the warning signs of Identity ...