First mortgage lien - Study guides, Class notes & Summaries

Chapter 03 Financial Services: Finance Companies     
True / False Questions
  1. Finance companies differ from banks in that they do not accept deposits. 
TRUE   2. Finance companies have been among the slowest growing FI groups in recent years. 
FALSE   3. General Electric Capital Corporation (GECC) provides services to more than 15 million businesses and consumer is Asia alone. 
TRUE   4. In 2008, GE Capital Corporation accounted for approximately 50 percent...

New York Adjuster Exam Questions with 100% correct Answers 2023 The insured has moved into a dwelling that was being build and was covered by the "Dwelling under Construction" endorsement. How long does the insured have to report his / her occupancy to the insurance company? {{Correct Ans- 30 days When a New York Homeowners policy is still in the 60-day underwriting period, the insurer may cancel it for any reason by providing a ______ notice. {{Correct Ans- 30 day Personal property tha...

Texas Promulgated Contracts-CHAMPIONS STUDY 2022-2023. The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilatera...

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 U...

Law of contracts practice test Questions with complete solutions According to the TREC contracts, the title company (on behalf of the seller) will send what to the buyer within 20 days after they receive the signed contract? To make a contract valid, someone may need to contract through the power of attorney if they: In the event that the buyer cannot secure financing, a financing contingency allows: WHAT must be delivered to the seller or the seller's agent within three days after the...

NYREI School Exam Questions and Answers Latest Version Graded A+ What is the minimum licensing requirement to sell commercial real estate in New York? a real estate salesperson's license What is the preferred method of creating an agency relationship? expressed agency An amenity purchaser occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. real / deed A salesperson who is an independent contractor is not subject to withholding r...

COMPREHESIVE; TEST BANK| ALL NEW YORK ADJUSTER (NY ADJUSTER) QUESTIONS ALL WITH CORRECT ANSWERS 2023-2024|GUARANTEE PASS Table of Contents New York Adjuster Exam Questions with 100% correct Answers 2023 2 New York Adjuster Exam 2 Questions and Answers Graded A+ 2023 24 New York Adjuster Exam 3 (+100 Questions and Answers 2023 34 New York Adjuster Questions and Answers 2023 45 NEW YORK insurance pretest (Adjusters) Questions and Correct Answers 47 New York Adjuster 1 Questions and Answers ...

Florida Real Estate Exam TEST Questions WITH 100% Correct Answers LATEST UPDATE 2023/2024 Binder deposit shows up as what on closing statement? - ANSWER Credit to buyer Which of the following is true about leverage? - ANSWER Leverage is the use of borrowed funds to purchase assets. Which of the following liens would take priority? - ANSWER A property tax lien In which of the following theories of mortgage lending does the borrower not retain ownership of the property during the loan ...

NYREI School Exam (question and answers 2023) graded A+What is the minimum licensing requirement to sell commercial real estate in New York? - correct answer a real estate salesperson's license What is the preferred method of creating an agency relationship? - correct answer expressed agency An amenity purchaser - correct answer occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - correct answer real / deed A salesperso...

Gold Coast Final Exam Questions and Answers 100% Solved What is the form you sign that says you will pay the loan back ? promissory note What is the post licensing grace period after first expiration ? none Deposits is a form of... valuable consideration Physical land and improvements real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both Yes What is the maximum fine per offense ? $5,000 per fine...