What is a heloc loan - Study guides, Class notes & Summaries

NOTARY Signing Agent Certification Exam Questions and Answers 100% Pass Who are the stakeholders in the loan process? The stakeholders in the loan process are: the borrower, the lender, the contracting company, and the NSA(Notary Signing Agent) Who hires an NSA? An NSA is hired by a contracting company to provide signing services and oversee the actual loan signing with the borrower. What is a contracting company? A closing company could be: -closing agent -bank -escrow compa...

Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - ANSWER-TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - ANSWER-Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owneroccupied, residential refinance? - ANSWER-After 3 business-day rescission period W...

NMLS SAFE EXAM STUDY GUIDE What does TILA stand for? - Truth-In-Lending Act, Regulation Z What is a HELOC loan? - a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - LTV stands for - Loan to Value Define PMI and state what the acronym stands for. - Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? - Disabled veterans and survi...

NOTARY Signing Agent Certification EXAM QUESTIONS AND CORRECT ANSWERS Who are the stakeholders in the loan process? - ANSWER The stakeholders in the loan process are: the borrower, the lender, the contracting company, and the NSA(Notary Signing Agent) Who hires an NSA? - ANSWER An NSA is hired by a contracting company to provide signing services and oversee the actual loan signing with the borrower. What is a contracting company? - ANSWER A closing company could be: -closing a...

NOTARY Signing Agent Certification EXAM QUESTIONS AND CORRECT ANSWERS Who are the stakeholders in the loan process? - ANSWER The stakeholders in the loan process are: the borrower, the lender, the contracting company, and the NSA(Notary Signing Agent) Who hires an NSA? - ANSWER An NSA is hired by a contracting company to provide signing services and oversee the actual loan signing with the borrower. What is a contracting company? - ANSWER A closing company could be: -closing a...

NMLS SAFE EXAM QUESTIONS WITH SOLUTIONS What does TILA stand for? Truth-In-Lending Act, Regulation Z What is a HELOC loan? a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? LTV stands for Loan to Value Define PMI and state what the acronym stands for. Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? Dis...

Who are the stakeholders in the loan process? - ACCURATE ANSWERS The stakeholders in the loan process are: the borrower, the lender, the contracting company, and the NSA(Notary Signing Agent) Who hires an NSA? - ACCURATE ANSWERS An NSA is hired by a contracting company to provide signing services and oversee the actual loan signing with the borrower. What is a contracting company? - ACCURATE ANSWERS A closing company could be: -closing agent -bank -escrow company -attorney -signing s...

Who are the stakeholders in the loan process? : The stakeholders in the loan process are: the borrower, the lender, the contracting company, and the NSA(Notary Signing Agent) Who hires an NSA? : An NSA is hired by a contracting company to provide signing services and oversee the actual loan signing with the borrower. What is a contracting company? : A closing company could be: -closing agent -bank -escrow company -attorney -signing service -borrower's 2 | P a g e What types o...

"Integration" is - depositing cahs and then using that cahs to purchase real estate folowed by using that real estate as collateral on a loan which is paid back with large cash payments "Placement" is - the process of introducing unlawful proceeds into the financial system a 100k loan has a 7.5% payment cap and a current monthly payment of 1k At the next adjustment payment could not be increased more than - 1075% bc the 7.5% cap is on the payment not the mortgage a 2/1 buydown - reduce...

What does TILA stand for? Truth-In-Lending Act, Regulation Z What is a HELOC loan? a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? LTV stands for Loan to Value Define PMI and state what the acronym stands for. Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? Disabled veterans and surviving spouses. USDA loans are also called what? 50...