Adjustable rate mortgage - Study guides, Class notes & Summaries

LOAN ORIGINATOR EXAM 2024 WITH 100% ACCURATE SOLUTIONS What activity is a loan processor permited to perform without requiring licensure as a mortgage loan orginator under the SAFE Act? - correct answer Perfrom clerical and/or support duties under the supervision of a licensed entity The SAFE act prohibits individuals from engaging in the business of a residental mortage loan originator without first obtaining a - correct answer a unique identifier (NML number) What documents must be ...

Complete Test Bank for Real Estate Finance & Investments, 2024 Release by William B. Brueggeman, Jeffrey D. Fisher ; ISBN13: 9781265064846.....(Full Chapters included Chapter 1 to 23)...1 Real Estate Investment Basic Legal Concepts 2 Real Estate Financing Notes and Mortgages 3 Mortgage Loan Foundations The Time Value of Money 4 Fixed Interest Rate Mortgage Loans 5 Adjustable and Floating Rate Mortgage Loans 6 Mortgages Additional Concepts, Analysis, and Applications 7 Single-Family H...

The element of an adjustable interest rate that is the "moving part" is the: A. Teaser rate B. Index C. Margin D. Adjustment period E. Adjustment caps Correct Answer-B. Index the index rate represents the lenders cost of funds. the index rate is determined by the market, whereas the other answers are all fixed and specified in the note. Suppose a bank recognizes substantial deterioration in a borrowers credit score and notifies him that he must pay his home equity line of credit in f...

RECA Fundamentals of Mortgage Brokerage 2024 Exam AACI Correct Answer Accredited Appraiser Canadian Institute - designation granted by Appraisal Institute of Canada Accelerated Payments Correct Answer payment options stream whereby the monthly mortgage payment is either split in half or in quarters and is paid every two weeks (bi-weekly) or every week (weekly) Accredited Mortgage Professional - AMP Correct Answer national designation for mortgage professionals in Canada issued by the Ca...

A $50,000 mortgage has a $5,000 cash equivalency adjustment because of below market financing. The down payment was $3,000. What is the cash equivalent sales price? a. $50,000 b. $55,000 c. $48,000 d. $58,000 - Answer-c. $48,000 A ceiling fan installed in a home is... a. Personal property b. A trade fixture c. A fixture that is now part of the real estate d. Real Property - Answer-c. A fixture that is now part of the real estate A city has a zoning code that does not allow satellite d...

According to the Truth-in-Lending Act, a variation up to what amount is permitted for the annual percentage rate in a regular fixed-rate mortgage transaction as quoted in the Loan Estimate? 1% .5% .125% .25% - Answer-.125% The term "subordination" refers to: The process of releasing a lien The process of recording a lien The process of one lienholder accepting inferior lien priority in favor of another The process of researching a lien - Answer-The process of one lienholder accepting...

BARNEY FLETCHER - GA RE SCHOOL EXAM 2024 WITH 100% CORRECT ANSWERS What is the tax assessment rate for all real property in Georgia? - correct answer 40% What could happen if a property is sold at foreclosure and does not bring enough money to satisfy all of the debts secured by the property? - correct answer Outstanding debts could be pursued as a result of a deficiency judgement When foreclosure occurs, the payment priority of most of the outstanding debts is established by: - corre...

A conventional mortgage usually involves: a.) a variable interest rate. b.) a government guarantee. c.) a balloon payment. d.) equal payments. e.) a payment cap. correct answers d A condominium involves: a.) renting a mobile home. b.) part ownership of a building by a nonprofit organization. c.) ownership of an individual living unit. d.) government-subsidized housing. e.) renting a house with the option to buy. correct answers c A mortgage where the borrow agrees to share some o...

PA Real Estate Exam Prep || Questions & 100% Accurate Solutions PA Real Estate Exam Prep || Questions & 100% Accurate Solutions A right-of-way which gives persons other than the owner access to or over a property is known as an A. easement B. ingress C. egress D. none of the above - ANSWER-A. An easement is a right-of-way to persons other than the owner and gives them legal access. Which best describes a "subdivision"? A. Houses in the same neighborhood similar in style and siz...

Homes for All considers itself a nonprofit organization. In order for its employees to be exempt from the licensing requirements of the S.A.F.E. Act, each of the following must be true about Homes, except: A) It has tax-exempt status under the Internal Revenue Code B) Its employee compensation package does not encourage an employee to act in his or her own interests over that of his or her clients C) It promotes affordable housing D) It may engage in both nonprofit and for-profit activitie...