Correspondent lenders - Study guides, Class notes & Summaries
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NMLS Exam Review Questions and answers, VERIFIED// LATEST UPDATE [ EXAM PREDICTION QUIZZES]
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NMLS Exam Review Questions and 
answers, VERIFIED/ 
WHAT DOES TILA STAND FOR? - -TRUTH IN LENDING ACT 
WHAT DOES RESPA STAND FOR? - -REAL ESTATE SETTLEMENT PROCEDURES ACT 
WHAT IS HPA? - -HOMEOWNER'S PROTECTION ACT 
INTEREST RATE ALSO KNOWN AS - -NOTE RATE OR NOMINAL RATE 
MINIMAL CREDIT SCORE TO QUALIFY FOR AN FHA LOAN - -500 
WHAT DOES PITI STAND FOR? - -PRINCIPAL - INTEREST - TAXES - INSURANCE (CAN ALSO INCLUDE 
HOA FEES) 
WHAT IS CONSIDERED A BUSINESS DAY FOR CLOSING DISCLUSRES? - -ANY DAY...
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Xinnix Ground School Questions and Answers Already Graded A
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Xinnix Ground School Questions and 
Answers Already Graded A 
first-time homebuyer - Answer ️️ -Someone who has never owned a home 
Move-up homebuyer - Answer ️️ -Currently owns, or has previously owned a home and is 
looking to move up in price, location, size, etc. 
Relocation Homebuyer - Answer ️️ -Purchasing a new home in a different city or state due to 
job transfer or personal desire 
Affluent homebuyer - Answer ️️ -Well seasoned in home buying process. Knowledgeable, 
fin...
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Champions School of Real Estate - Real Estate Finance exam Correctly Answered 2024
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Champions School of Real Estate - Real 
Estate Finance exam Correctly Answered 
2024 
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 Mortgage - Answer -Includes both real and personal property ( fixtures and furnishings) 
Blanket Mortgage - Answer -Cover...
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Champions Real Estate Finance (Questions And Answers) 2024
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Champions Real Estate Finance 
(Questions And Answers) 2024 
mortgage Broker - CORRECT ANSWER-Functions as a middleman between the 
borrower and the lender, negotiating, selling or arranging loans to be delivered to large 
investors 
Mortgage Banker - CORRECT ANSWER-Provide their own funds for the purpose of 
providing mortgage financing 
Correspondent Lender - CORRECT ANSWER-Smaller in scale then mortgage bankers 
or brokers, these lenders typically extended loans with their own funds at th...
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Practice NMLS test - 20 Hour Safe Exam Review Questions and Answers
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Practice NMLS test - 20 Hour Safe Exam Review Questions and Answers 
 
In order to become a state licensed LO, the applicant must complete how many hours of prelicense education courses 
within 30 days of the end of the fiscal quarter 
a. 45 
b. 30 
c. 25 
d. 20 - Answer-d 
 
A lender which will make mortgage loans to customers, but will immediately sell each of their loans to a larger lender (under a contract relationship) is called a: 
a. Wholesale lender 
b. Retail lender 
c. Correspondent l...
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Champions - Real Estate Finance EXAM 2024 Questions & Answers 100% Correct!!
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Loan Processing - ANSWERSThe process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision. 
 
Underwriting - ANSWERSThe process of evaluating a borrower's loan application to determine the risk involved for the lender. 
 
Funding - ANSWERSThe process of transferring funds to a title or escrow company for disbursement. 
 
Servicing - ANSWERSSending monthly payment statements and collecting monthly payments, maintaining paymen...
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Champions Real Estate Finance 2024 Exam || Questions & Answers (Rated A+)
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Champions Real Estate Finance 2024 Exam || Questions & Answers (Rated A+) 
Champions Real Estate Finance 2024 Exam || Questions & Answers (Rated A+) 
 
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 - Smaller in scale then mortgage bankers or broke...
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Real Estate Finance champion school test Questions and Correct Solutions 2024
- Exam (elaborations) • 103 pages • 2024
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Real Estate Finance champion school test 
Questions and Correct Solutions 2024 
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 
Funding - Answer -The process of transferring funds to a title or escrow company for disbursement 
Servicing - Answer -Sending mon...
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Champions Real Estate Finance Exam Questions with correct Answers 100% Verified
- Exam (elaborations) • 8 pages • 2024
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Champions Real Estate Finance Exam 
Questions with correct Answers 100% 
Verified 
Loan Processing - answerThe process of collecting information about a borrower in order to 
build a loan file that will be used to make an underwriting decision 
Underwriting - answerThe process of evaluating a borrower's loan application to determine 
the risk involved for the lender 
Funding - answerThe process of transferring funds to a title or escrow company for 
disbursement 
Servicing - answerSending month...
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Real Estate Finance champion school test Questions and Correct Solutions 2024
- Exam (elaborations) • 103 pages • 2024
- Available in package deal
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- $13.89
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Real Estate Finance champion school test 
Questions and Correct Solutions 2024 
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 
Funding - Answer -The process of transferring funds to a title or escrow company for disbursement 
Servicing - Answer -Sending mon...
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