Negative amortization - Study guides, Class notes & Summaries

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 ...

California State NMLS EXAM STUDY QUESTIONS 2024. "Federal banking agencies" include: Answers A. The Director of the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, and FDIC B. Fannie Mae and Freddie Mac C. The Comptroller of the Currency and the National Credit Union Administration D. A and C - correct answer D. A borrower approaches a lender to refinance their existing negative amortization loan, which was originated by that same lender....

In January of 2020, Wella and Kip agreed to purchase a home at a purchase price of $546,300. They would like to hold onto as much of their savings as they can, but they have chosen to make a down payment sufficient enough to qualify for a conforming loan. What is the minimum down payment they can make to reach the conforming loan limit but still retain savings? - $47,900 - $35,900 - $95,800 - $54,900 - $35,900. The down payment in this scenario will be $35,900. This is just enough to kee...

NMLS SAFE ACT MLO - Ethics and Fraud 2023/2024 Practice Study Guide Questions with Distinction level Marking scheme The APR (annual percentage rate) is the cost of credit that consumers pay, expressed as a simple annual percentage. If the ad only states the APR, then other disclosures are not necessary. Some common types of legal transactions that require appraisals are: A. All of the other options require appraisals B. Income tax casualty losses, estate or inheritance tax, and propert...

Federal banking agencies" include: Answers A. The Director of the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, and FDIC B. Fannie Mae and Freddie Mac C. The Comptroller of the Currency and the National Credit Union Administration D. A and C correct answers D. A borrower approaches a lender to refinance their existing negative amortization loan, which was originated by that same lender. Which of the following statements is incorrect?

NMLS SAFE Exam preparation 2023/2024 Questions and Must have marking scheme Amortization - correct answer the process of paying off a loan by gradually reducing the balance through a series of installment payments Partially amortized loans - correct answer otherwise known as a balloon mortgage: provides for some, but not total, amortization during the mortgage term. -at the end of the loan term a large balloon payment is needed to pay off the remaining balance Negative Amortization...

ACCT 3001 LSU EXAM TEST BANK COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) What is the expected result of a zero-interest-bearing note that is sold today for less than face value? A.) It has an implicit premium paid equal to the difference between the face value and the present value. B.) It has implicit interest equal to the difference between the face value and the present value. C.) It has a negative interest rate and will not generate revenue. D.) It has an im...

HUD Housing Counselor Module- Avoiding Foreclosure Exam Questions and Answers 100% Pass Which of the following did NOT contribute to the increase in foreclosure rates during the mortgage crisis? - Risky loan products with features like negative amortization - Homeowners paying off mortgages early - Aggressive marketing of Home Equity Line of Credits (HELOC) - Using teaser rates to qualify more borrowers - Correct Answer ️️ -Homeowners paying off mortgages early This program made it ...

"Federal banking agencies" include: Answers A. The Director of the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, and FDIC B. Fannie Mae and Freddie Mac C. The Comptroller of the Currency and the National Credit Union Administration D. A and C - Answer-D. A borrower approaches a lender to refinance their existing negative amortization loan, which was originated by that same lender. Which of the following statements is incorrect? A. The...

(FCRA) Fair Credit Reporting Act - Regulation V - Gives consumers access to the same information about themselves that lenders use when making credit decisions Entitles consumers to free credit report upon adverse action or identity theft (Not Credit Score) allows consumers to dispute credit report Provides additional rights for identity theft victims and active duty military personnel (FCRA) Fair Credit Reporting Act - Regulation V Disclosures - A one-time written notice of derogatory inf...