Mortgage banker - Study guides, Class notes & Summaries

With respect to bearing the risk of future property price fluctuations, which of the following lending relationships is viewed as the most risky from the borrower's perspective? Correct Answer-Straight debt Developers may be attracted to a _______________________which enables them to proceed with construction without long term financing, if they expect to sell the project or refinance into a permanent loan before the term of the ______________________expires. Correct Answer-Mini-perm loan ...

UST TEXAS Exam Questions with Correct Answers The authority to regulate mortgage professionals in Texas arises from the following laws found in the Finance Code (Fin. Code): The Residential Mortgage Loan Company Licensing and Registration Act (the RMLC), Chapter 156 The Mortgage Banker and Residential Mortgage Loan Originator Act (the MBRA), Chapter 157 The Texas Secure and Fair Enforcement for Mortgage Licensing Act of 2009 (the Act), Chapter 180 Rules created to enforce those law...

The Mortgage Lending Industry - ANSWER-Segment 1 Which one of the following is NOT an alternative term used to refer to a savings and loan institution? -Mutual savings bank -Thrift institution -Mortgage banker -Savings and loan association - ANSWER-Mortgage banke

Recourses of foreclosure - borrower can come back through - equity of redemption -statutory The possibility that the actual outcome will vary from what was expected when the asset was purchased. - Risk fixed amount of money paid or received at the end of every period - Ordinary annuity future cash inflow or outflow occurring only once - lump sum payment What are the four time Value of money operations - Compounding Operations 1. Future value of a lump sum 2. Future value of an annuity ...

1. bank 2. commercial bank 3. savings & loans 4. credit union 5. mortgage broker 6. mortgage banker - 1. bank - full service 2. commercial bank - originate largest amount of loans without using depositor's funds. 3. savings & loans - smaller local banks that use depositors funds to originate residential mortgage loans. AKA savings bank or thrift 4. credit union - takes deposits from members and pay dividends. Offer high interest rates to depositors and low loan rates to borrowers. 5....

SAFE Exam Test With 100% Correct And Verified Answers Title X - Correct Answer-Created the CFPB IN 2011 A part of the Dodd Frank Act Dodd-Frank Wall Street Reform Act - Correct Answer-July 2010 Created to promote financial stability Created two titles- Title X and Title XIV CFPB - Correct Answer-Consumer financial protection bureau Created by Title X, under the Dodd Frank act Government entity that regulates laws and regulations 2010 Protects consumers from abusive practices ...

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...

Real Estate Questions and Answers Exam Latest Update Graded A+ Local communities regulate real estate by buying and selling land themselves. >creating zoning laws. annexing nearby towns. taxing animals. Which is NOT commonly an area of federal government interference in real property? Federal Fair Housing Act RESPA National Parks >Zoning laws Why does a real estate professional need a license? He has specific information to be able to show a house. He has specific info...

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 ...

NMLS SAFE ACT MLO Exam - Ethics and Fraud Exam Questions With 100% Correct Answers A lender provides a borrower with an initial amortization schedule for Private Mortgage Insurance (PMI) disclosure at loan closing for an adjustable-rate mortgage. The lender MUST also provide a written notice stating the A. Lender's right to increase the monthly payment amount for PMI B. Borrower's right to refuse a PMI C. Lender's right to extend the time for monthly payments for a PMI D. Borrower's...