Hud terms - Study guides, Class notes & Summaries

HUD Housing Counseling Exam Questions and Answers 100% Pass Civil Rights Act of 1866 - Correct Answer ️️ -Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - Correct Answer ️️ -banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 - Correct Answer ️️ -added gender (sex) to the protected classes Fair Housing Amendments ...

HUD Allocates funds, develops regulations and procedures, contracts with PHAs to carry them out, and monitors PHA performance & compliance. Lease The contract between a tenant and a landlord Includes: a. The names of the owner and tenant b. The address of the unit rented c. The term of the lease (initial and renewal terms) d. A specification of what utilities and appliances are to be supplied by the owner e. A specification of what utilities and appliances are to be supplied by the te...

OHIO Lead Risk Assessor Study Guide/Terms Questions and Answers 100% Pass Lead was used in paint because it - Correct Answer ️️ -Adds durability and serves as a drying agent. Lead is sometimes found in drinking water because lead is in - Correct Answer ️️ -Pipe solder and plumbing fixtures. What form of lead is often found in house paint? - Correct Answer ️️ -WHITE LEAD How much lead must be present in a painted surface for it to be considered lead-based paint by HUD? - Corre...

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 - Answer- The process of creating a new mortgage loan U...

HUD Exam Prep Questions and Answers 100% Pass Conventional Loan - Correct Answer ️️ -Front end 28% Back end 36% can go up to 45% to 50%(debt to income), backed by private lenders. AKA prime loans. Good credit, 20% down payment. May have interest only terms FHA - Correct Answer ️️ -Front end 31% Back end 43% Limited funds, bad credit, bankruptcy, high debt to income ratio. EEM (Energy) FHA - Correct Answer ️️ -Front end 33% Back end 45% VA - Correct Answer ️️ -41% USDA -...

Nan McKay Housing Choice Voucher Specialist Exam | Questions and Answers | Latest Version | Already Passed **Question:** What responsibilities do owners typically have in housing arrangements? **Answer:** Owners are responsible for selecting and screening tenants, as well as enforcing lease agreements. **Question:** What legislative role do states play in the administration of public housing? **Answer:** States pass legislation that establishes Public Housing Authorities (PHA...

HUD Certification Exam Questions and Answers 100% Pass Deed Restrictions - Correct Answer ️️ -Legally enforceable terms that govern the use of real estate Redlining - Correct Answer ️️ -The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, disability, or familial status of the area's residents. Civil Rights Act of 1968 - Correct Answer ️️ -Following the assass...

A discount point is BEST described as a charge the borrower pays to: A.) A lender to decrease the interest rate on the mortgage loan B.) A mortgage broker at the time of application to obtain a favorable rate C.) The seller as part of the closing costs of a loan D.) A lender to ensure against foreclosure - correct answer A.) A lender to decrease the interest rate on the mortgage loan A buyer has made an earnest money payment of $5,000. The buyer pays an additional $2,000 in option money...

EPA Lead Risk Assessor Exam 2023EPA 40 CFR Part 745 - correct answer LBP Poisoning Prevention in certain residential structures What does EPA 40 CFR Part 745 contain? - correct answer -defines LBP hazard and other related terms -training, accreditation, work practice standards -applicable to target housing and child occupied facilities -renovation safe work practices -recordkeeping/reporting requirements -LPB disclosure to buyers/renters -pre reqs for becoming certified -regulatory l...

Allocates funds, develops regulations and procedures, contracts with PHAs to carry them out, and monitors PHA performance & compliance. : HUD The contract between a tenant and a landlord Includes: a. The names of the owner and tenant b. The address of the unit rented c. The term of the lease (initial and renewal terms) d. A specification of what utilities and appliances are to be supplied by the owner e. A specification of what utilities and appliances are to be supplied by the tenan...