Correspondent lender - Study guides, Class notes & Summaries

Real Estate Finance champion school test Questions and Correct Solutions 2024 Loan processing - Answer -The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision Underwriting - Answer -The process of evaluating a borrowers loan application to determine the risk involved for the lender Funding - Answer -The process of transferring funds to a title or escrow company for disbursement Servicing - Answer -Sending mon...

Champions real estate finance with Correct Solutions Latest Loan-to-Value Ratio (LTV) - Answer -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. Package Mortgage - Answer -Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - Answer -Covers more than one piece of...

Champions School of Real Estate - Real Estate Finance exam Correctly Answered 2024 Loan-to-Value Ratio (LTV) - Answer -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. Package Mortgage - Answer -Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - Answer -Cover...

Loan-to-Value Ratio (LTV) - ANSWERSThe 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. Package Mortgage - ANSWERSIncludes both real and personal property ( fixtures and furnishings) Blanket Mortgage - ANSWERSCovers more than one piece of property. Wraparound Mortgage - ANSWERSMethod of financin...

Champions Real Estate Finance QuesLoan-to-Value Ratio (LTV) - ANSWERSThe 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. Package Mortgage - ANSWERSIncludes both real and personal property ( fixtures and furnishings) Blanket Mortgage - ANSWERSCovers more than one piece of property. Wraparound Mo...

Champions Real Estate Finance Final Exam With Correct Answers 2024 Loan-to-Value Ratio (LTV) -CORRECT ANSWER-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. Package Mortgage -CORRECT ANSWER-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage -CORRECT ANSWER...

Champions Real Estate Finance 2024 Exam || Questions & Answers (Rated A+) Champions Real Estate Finance 2024 Exam || Questions & Answers (Rated A+) 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 broke...

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...

Loan Processing - ANSWERSThe process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision. Underwriting - ANSWERSThe process of evaluating a borrower's loan application to determine the risk involved for the lender. Funding - ANSWERSThe process of transferring funds to a title or escrow company for disbursement. Servicing - ANSWERSSending monthly payment statements and collecting monthly payments, maintaining paymen...

Champions real estate finance Correctly Answered 2024 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 - Answ...