Correspondent lender - Study guides, Class notes & Summaries

Practice NMLS test - 20 Hour Safe Exam Review Questions and Answers Which of the following would be ways that Fannie Mae impacts the primary mortgage market? a. it ultimately serves to provide additional funds for the primary market b. it influences lenders' standards for making mortgage loans c. both d. none - Answer-c. Fannie Mae buys mortgages in the secondary mortgage market which makes more funds available to lenders to make loans in the primary market. It also sets standards for th...

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. - Answer-Loan-to-Value Ratio (LTV) Includes both real and personal property ( fixtures and furnishings) - Answer-Package Mortgage Covers more than one piece of property. - Answer-Blanket Mortgage Method of financing which preserves the low, existing ...

Champions - Real Estate Finance Questions And Answers 2024 100% Scores Loan Processing - CORRECT 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 - CORRECT ANSWER-The process of evaluating a borrower's loan application to determine the risk involved for the lender. Funding - CORRECT ANSWER-The process of transferring funds to a title or escrow company for disbursement. Servic...

Champions real estate finance Correctly Answered 2024 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 brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answ...

Champions real estate finance with Correct Solutions Latest 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 -Covers more than one piece of...

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...

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 brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer The process of creating a new mortgage loan ...

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...

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 their own risk Origination - correct answer-The process of creat...

pre-qualification - correct answer - step in loan process - is the first step in determining "how much house" the buyer can afford and which type of loan might be best. The buyer supplies information about their financial situation to the lender, who then provides a general estimate. Pre-approval - correct answer - step in loan process - is the more official process of being approved by the lender to borrow a sp...