The mortgage lender - Study guides, Class notes & Summaries

Champions Real Estate Finance graded A+ already passed 2023Loan-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 ...

GOLD COAST FINAL EXAM STUDY SET for 4/11 [100% Correct] 1 acre is how many square feet? *Ans* 43,560 A broker is entitled to compensation if they... *Ans* bring a buyer who brings an offer the seller was looking for A buyer drops off an escrow check on Monday. To avoid any trouble with FREC, the broker must deposit the check by close of business on which day? *Ans* Thursday A spouse who is left out of a will can claim? *Ans* Elective share 30% Abstract Continuation *Ans* history of ti...

Colibri School Exam NJ 2023(updated)question and answers rated A+In a real estate transaction the principal would BEST be described as the - correct answer Person represented by an agent Bert is showing his buyer a home in a historic district. The buyer mentions in passing that she would like to place solar panels on the roof. Beet knows that the homeowners association CC&Rs would prohibit this to protect the historic character of the neighborhood, but he doesn't tell the buyer for fear she...

Middleton Real Estate Final Exam Questions all of the following statements would be true of TRID except? - ANSWER TRID requires a closing disclosure to be provided to the buyer 2 days before the settlement date. which of the following is not required when recording the deed with the county clerks office? - ANSWER two witnesses which of the following was added to the federal fair housing act in 1988 when it was amended? - ANSWER familial status and handicapped calculate the transfer tax ...

California Legal Aspects of Real Estate Final Exam (Already Graded with a pass rate of 97%) California Legal Aspects of Real Estate Final Exam (Already Graded with a pass rate of 97%) A promissory note is: a. evidence of the debt b. evidence of a sale c. a security interest in the property for the lender d. the same as a mortgage or trust deed a. evidence of the debt In order to be considered an emancipated minor and have the capacity to contract, a minor must: a. be married, widow...

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...

appraisal CORRECT ANSWER value of a property maybe affected by social, economic, govt and environmental influences Loan-to-Value Ratio (LTV) CORRECT ANSWER The percentage of value or sales price that a lender is willing to finance. limited appraisal report CORRECT ANSWER exterior only/drive by inspection. deemed as low risk loan highest and best use of property CORRECT ANSWER legal use that gives the greatest return Principal of Contribution CORRECT ANSWER cost does not equal value ...

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 - ANS IS 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 - ANS IS 2 years Unscrupulous actions carried out by a lender to entice, induce and/or assist a borrower in taking a mortgage that carries high fees, a high interest rate, strips the borro...

H&R block Exam Questions And Answers Adjustable rate mortgage (ARM) - ans-(ARM) A mortgage that permits the lender to periodically adjust the interest rate to reflect fluctuations in the cost of money.

QUESTION 1 No person may carry on a regulated activity in the UK unless authorised or exempt (s19 FSMA). Need to ensure that the firm is not committing a criminal offence by carrying out a regulated activity without authority pursuant to S 23 FSMA, so we need to consider the effect of FSMA. 1. Are you in Business? a. For an activity to be a regulated activity under FSMA, it must be “carried on by way of business”. As the firm is providing a service for the client, it is in business for...