Freddie - Study guides, Class notes & Summaries

A borrower received $1,000 per month in rental income. How much of the income may be used to qualify the borrower for a loan? A. $1,000 B. $800 C. $750 D. $1,250 - ANSWERC. $750 Generally, 75% of rental income may be used to qualify a borrower for a loan. This formula is based on an industry standard that taxes, insurance, and maintenance costs will equal about 25% of the income that a property generates. In this case, 75% x $1,000 = $750. What is Freddie Mac's automated underwrit...

Freddie Mac Interview Questions With Correct Answers Tell Me About Yourself. - answerI'm in the process of completing my Master's in Information Systems with an IT focus. This program has provided me with a lot of experience with the Systems Development lifecycle, from creating functional requirements to coding, and finally implementation. My final project was a task management program my group and I created as we went through the entire systems development lifecycle. I have a pretty div...

Freddie MAC Exam Questions And Answers.

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...

Freddie MAC Exam Questions With Correct Answers SDLC - answerSoftware Development Life Cycle What position you want to interview for and why? - answerTechnology analyst Multi- dimensional including infrastructure, developer, data analytics, system analyst skills. I like how the technology analyst doesnt specifically focus on one area. The position is literally everything I have wanted because it will allow me to show/develop my IT, Business, and social skills Freddie Mac - answeris a gov...

Xinnix SOAR Final Questions With Verified Answers Graded A+ FNMA and FHLMC are what type of loan? conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies true conventional loans are not insured by the federal government true Agency loans include FHA and VA loans true the proceeds of a loan for cash out refinance may be used by the borrower to insure a new pool t...

FIN 537 Exam #1 Study Guide banks commercial - ANSWER-highly regulated financial institutions that deal with money and provide financial services; - deal mostly with ______ banks that accept deposits and provide loans intermediaries asset transactions - ANSWER-Banks are ________ between borrowers and savers - provide ______ transformation - provide financial ________ services valuable transactions - ANSWER-In ancient times, wealth was stored in the form of something _______ such ...

Freddie Mac - Credit Smart Exam Questions With Correct Answers The percentage of your gross monthly income that goes toward paying for your housing expenses is called the "housing expense ratio" and is based on the total housing payment, which includes: - answerPrincipal, interest, property taxes, homeowner's insurance, mortgage insurance, homeowner's or condo association fees Lenders don't include your future housing payment in your debt-to-income ratio, only all other outstanding d...

Champions Real Estate Finance Exam 2024 Questions and Answers (Graded A) Champions Real Estate Finance Exam 2024 Questions and Answers (Graded A) Champions Real Estate Finance Exam 2024 Questions and Answers (Graded A) 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 pro...

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 Covers more than one piece of property. Wraparound Mortgage - c...