Forward mortgage purpose - Study guides, Class notes & Summaries

NMLS EXAM QUESTIONS AND ANSWERS LATEST UPDATED Fraud for money Laundering -Criminal uses scheme known as value tampering -Criminal offers to buy house at reduced rate -Seller must sell at appraised value on paper, but after closing, seller give the criminal the difference in cash. Adverse Action An unfavorable credit decision rendered against a consumer made on the basis of information contained on the credit application. If a lender takes adverse action against an applicant, the ...

"The act of transferring an interest in property or some right (such as contract benefits) to another" is the definition of assignment novation codicil acceptance assignment What is the mean of the following set of gross rent multipliers? (95, 93, 120, 94, 93, 129) 93 94.5 101.5 104 104 Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:00 Full screen Forty percent of the houses in a neighborhood are Colonials...

Barney Fletcher Final Exam | 100 Questions with 100% Correct Answers | Verified | Latest Update 2024 B. an exclusive right to sell listing - -A seller wants to list the property with a broker, but wants to avoid paying any commission should the seller be fortunate enough to sell the property. himself. Which of the following should the seller avoid signing? A. an exclusive agency listing B. an exclusive right to sell listing C. an open listing D. all listings C. do not tell them even ...

FLORIDA Real Estate Class Exam - Questions and Answers A buyer bought a property without telling the seller or broker of his intended purpose for the property. The contract contained no contingency clause and was properly signed and executed. The buyer is now unable to obtain the zoning he planned for the commercial project he needs for this property and he is unable to use the property. What is the status of the contract at this time? This is a valid, enforceable, executed contract A broker a...

Aviation Law - Final Exam Questions & Answers Your willingness to put up your property for collateral to secure payment of a loan. - Answer ️️ -What is Security Interest? Security Interest for a loan against land and buildings. - Answer ️️ -What is a Mortgage? Security Interest for a loan against anything other than land and buildings. - Answer ️️ -What is a Financial Statement? Skin in the Game & Cover the Equity - Answer ️️ -What are the two reasons for why a bank requi...

HUD Exam- Homeownership Questions and Answers 100% Pass Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? A. Debt to-income ratios B. Annual gross income C. Savings D. Options A, B, C E. None of the above - Correct Answer ️️ -D. Options A, B, and C A person or company that makes loans for real estate purchases. "Loan officer" is a related term that refers to a representative of a lending or mortgage com...

Aviation Law - Final Exam Questions & Answers Your willingness to put up your property for collateral to secure payment of a loan. - Answer ️️ -What is Security Interest? Security Interest for a loan against land and buildings. - Answer ️️ -What is a Mortgage? Security Interest for a loan against anything other than land and buildings. - Answer ️️ -What is a Financial Statement? Skin in the Game & Cover the Equity - Answer ️️ -What are the two reasons for why a bank requi...

Michigan Real Estate Exam (set 9) Questions and Answers Calder's Construction Company has built a home in a new subdivision which was sold 6 months after it was built, for $48,500. This amount reflected a loss of 3%. Knowing this, what was the original asking price on the home? $50,000 To figure this out, take the sale price and divide it by 97% (100%-3% loss=97%). So, $48,500/97% = $50,000. A seller was selling an unimproved 1.1-acre lot for $10,000. The seller listed the property ...

Module 21 Basic Appraisal Principles Questions and Answers Latest Updated effective date the date to which an appraiser's analyses, opinions, and conclusions apply; also referred to as date of value. relevant characteristics features that may affect a property's value or marketability such as legal, economic, or physical characteristics physical characteristics attributes of a property that are observable or measurable as a matter of fact, as distinguished from opinions and c...

Federal National Mortgage Association (FNMA) known as, Fannie Mae - ANSWER-began in 1938 as an agency of the federal government In 1968, Fannie Mae became a privately owned and managed corporation Fannie Mae operates exclusively in the secondary market and provides support to mortgage lending institutions in the primary market. Freddie Mac is a federally chartered corporation established as the Federal Home Loan Mortgage Corporation (FHLMC) - ANSWER-in 1970 for the purpose of purchasing mortg...