Borrower mortgagor - Study guides, Class notes & Summaries

Gold coast chapter 12the instrument that contains the amount of the loan, interest rate, payment provisions, and other terms of the loan is the blank - correct answer Promissory note A mortgage is a blank - correct answer Pledge of security the clause in a mortgage that protects the borrowers interest and requires the lender to acknowledge performance by the borrower is the blank clause - correct answer Defeasance The clause that allows a parcel of property to be sold free and clear o...

Colorado Real Estate Exam Prep Questions and Answers 100% Pass Title Theory - Correct Answer ️️ -lender owns, borrower has equitable title Hypothecation - Correct Answer ️️ -pledging property as collateral for a loan without giving up possession Mortgagee - Correct Answer ️️ -Lender Mortgagor - Correct Answer ️️ -borrower Non Judicial foreclosure - Correct Answer ️️ -*CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after ...

NMLS SAFE EXAM Questions And Answers (Verified And Updated) Where credit institutions originate loans - answerPrimary Mortgage Market When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over the life of the loan D. The rate maximum the rate can decrease over the life of the loan - answerC. The maximum the rate can increase over the life of the loan When utiliz...

NMLS SAFE EXAM Questions And Answers (Verified And Updated) Where credit institutions originate loans - answerPrimary Mortgage Market When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over the life of the loan D. The rate maximum the rate can decrease over the life of the loan - answerC. The maximum the rate can increase over the life of the loan When utiliz...

Regulation Z Answer The regulations issued under the Truth-in Lending Act that set forth the specific requirements that a lender must follow in order to comply with the Truth-In-Lending law. Revolving Debt Answer A type of credit arrangement in which a consumer is pre-approved for a line of credit and they may make purchases against that credit. The Lender is also know as the: Answer Mortagee (lien theory/mortgage), beneficiary (title theory/deed of trust), grantor, vendor (land contract)...

A mortgage in which the entire debt has been paid off at the end of the loan term is a fully-amortized loan Among the most basic words needed to discuss mortgages are all of the following EXCEPT A) interest. B) loan-to-value ratio. C) down payment. D) refinancing. refinancing All of the following are methods of loan payments EXCEPT A) interest only. B) fully amortized. C) partially amortized. D) partially full amortized loan. partially full amortized loan. ...

Notary Loan Signing Agent Definitions, Complete Solution Borrower (Mortgagor) An individual who applies for and receives funds in the form of a loan and is obligated to repay the loan in full under the terms of the loan. Title Document that gives evidence of ownership of a property. Also indicates the rights of ownership and possession of the property. Individuals who will have legal ownership in the property are considered "on title" and will sign the mortgage and other documentation Re...

A - The mortgage loan originator's role involves all of the following EXCEPT: A. Loyalty is owed to the party paying the mortgage loan originator's compensation. B. Ensuring the loan program is suitable for the borrower's needs. C. Qualifying the borrower's financial ability to meet the loan obligations. D. Helping the borrower compile a complete and accurate application. A - Which of the following statements is true about the SAFE Act? A. Requires states to set minimum net worth or su...

NMLS SAFE EXAM QUESTIONS AND ANSWERS GRADED A+ Primary Mortgage Market Where credit institutions originate loans C. The maximum the rate can increase over the life of the loan When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over the life of the loan D. The rate maximum the rate can decrease over the life of the loan Brainpower Read More Pre...

Champions Real Estate Finance Practice Exam || Questions & Answers (100% Verified) Champions Real Estate Finance Practice Exam || Questions & Answers (100% Verified) A __________ is a permanent change in one or more of the terms of a borrower's loan. Loan Qualification Loan Modification Loan Approval Loan Origination - ANSWER - Loan Modification What time period must borrowers have in job history with the same employer to qualify? 2 months 6 months 1 year 2 years - AN...