Underwriting timeline - Study guides, Class notes & Summaries

Loan Inquiry and Application Process Requirements - ANSWER-Getting pre-qualified is often the first step of someone looking to purchase a new home. It is where the borrower supplies the lender with their overall financial picture, including debt, income, and assets. The lender evaluates the information and lets the borrower know for how much they would likely qualify. An initial evaluation of the credit worthiness of a potential borrower that is used to determine the estimated amount that the pe...

Actual Cash Value (ACV) - Correct answer-Cost to replace property with new property of like kind and quality less depreciation. Combined Single Limit - Correct answer-One limit per occurrence is what we pay up to Split limit - Correct answer-What we pay up to per person and per occurrence Deductible - Correct answer-What the customer will have to pay; we cover everything else Declarations Page (Dec Page) - Correct answer-The basic information about a policy: Who - names of insurer and ins...

Green Belt - Exam Practice Questions & Answers_2022. 1. 5S is a system to reduce waste and optimize productivity through maintaining an orderly workplace and using visual cues to achieve more consistent operational results. Implementation of this method "cleans up" and organizes the workplace basically in its existing configuration, and it is typically the first lean method which organizations implement. Which of the following activities is NOT part of the 5S approach? A. Standardize and...

- answer- What is the historical evolution of disclosure? Why is that relevant today? - answer-x How and why has sustainability accounting and disclosure evolved to supplement financial A&D? - answer- Characteristics of SASB D&A - answer-D&A metrics contextualize understanding of a firm's operations and strategic initiatives What is SICS? - answer-Sustainable Industry Classification System create and outline SASB Sectors and Industries Classification system to meet the needs of u...

A customer asks his mortgage broker for the name of a good title company. The broker has a list of several companies with whom she has done business with in the past. At what point, according to RESPA, must she give the customer an AfBA disclosure? If the referring party does not have an ownership or other beneficial interest, an Affiliated Business Arrangement (AfBA) disclosure is not required by RESPA. Which would NOT be considered a RESPA violation? A thing of minimal value used in t...