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Champions School of Real Estate - Real Estate Finance Questions & Correct Answers Package/ Graded A+
Champions School of Real Estate - Real Estate Finance Questions & Correct Answers Package/ Graded A+
[ Mehr anzeigen ]Champions School of Real Estate - Real Estate Finance Questions & Correct Answers Package/ Graded A+
[ Mehr anzeigen ]Character, Credit Score, Capacity, Capitol, and Collateral 
: What do creditors use to approve loans? 
Par Loan 
: A loan that is made at the current market rate of interest. 
Origination 
: The process of creating a new mortgage loan, including all steps taken by a lender, to attract 
and qualify ...
Vorschau 1 aus 4 Seiten
In den EinkaufswagenCharacter, Credit Score, Capacity, Capitol, and Collateral 
: What do creditors use to approve loans? 
Par Loan 
: A loan that is made at the current market rate of interest. 
Origination 
: The process of creating a new mortgage loan, including all steps taken by a lender, to attract 
and qualify ...
mortgage Broker 
: Functions as a middleman between the borrower and the lender, negotiating, selling or 
arranging loans to be delivered to large investors 
Mortgage Banker 
: Provide their own funds for the purpose of providing mortgage financing 
Correspondent Lender 
: Smaller in scale then mor...
Vorschau 3 aus 21 Seiten
In den Einkaufswagenmortgage Broker 
: Functions as a middleman between the borrower and the lender, negotiating, selling or 
arranging loans to be delivered to large investors 
Mortgage Banker 
: Provide their own funds for the purpose of providing mortgage financing 
Correspondent Lender 
: Smaller in scale then mor...
Loan-to-Value Ratio (LTV) 
: 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 
: In...
Vorschau 4 aus 37 Seiten
In den EinkaufswagenLoan-to-Value Ratio (LTV) 
: 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 
: In...
Mortgage Loans 
: Most common choice for financing real property. Can be conventional or non-conventional 
Conventional Loan 
: Neither federally insured nor guaranteed 
Non-conventional Loan 
: Federally insured/guaranteed mortgage loans to encourage ownership (FHA, VA, USDA) 
Contract for Deed 
: ...
Vorschau 2 aus 13 Seiten
In den EinkaufswagenMortgage Loans 
: Most common choice for financing real property. Can be conventional or non-conventional 
Conventional Loan 
: Neither federally insured nor guaranteed 
Non-conventional Loan 
: Federally insured/guaranteed mortgage loans to encourage ownership (FHA, VA, USDA) 
Contract for Deed 
: ...
Seller's market 
: When supply is low and demand is high 
Buyer's market 
: When supply is high and demand is low 
The process of creating a new mortgage loan 
: Origination 
The detailed process of evaluating a borrower's loan application to determine the risk involved for 
the lender 
: Underw...
Vorschau 2 aus 13 Seiten
In den EinkaufswagenSeller's market 
: When supply is low and demand is high 
Buyer's market 
: When supply is high and demand is low 
The process of creating a new mortgage loan 
: Origination 
The detailed process of evaluating a borrower's loan application to determine the risk involved for 
the lender 
: Underw...
Sending monthly payment statements and collecting 
monthly payments, maintaining payment 
records and following up on delinquencies. 
: Servicing 
The process of creating a new mortgage loan 
: Origination 
The process of collecting information about a borrower in order to build a loan file that wil...
Vorschau 3 aus 20 Seiten
In den EinkaufswagenSending monthly payment statements and collecting 
monthly payments, maintaining payment 
records and following up on delinquencies. 
: Servicing 
The process of creating a new mortgage loan 
: Origination 
The process of collecting information about a borrower in order to build a loan file that wil...
A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) 
: Non-Conforming Loan 
VA 
: Veteran's administration - assists veterans in the purchase of housing by guaranteeing loans) 
Seller's equity 
: Cash price minus the loan balance 
A clause often found in a blanket loan al...
Vorschau 3 aus 19 Seiten
In den EinkaufswagenA loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) 
: Non-Conforming Loan 
VA 
: Veteran's administration - assists veterans in the purchase of housing by guaranteeing loans) 
Seller's equity 
: Cash price minus the loan balance 
A clause often found in a blanket loan al...
The process of creating a new mortgage loan, including all steps taken by a lender to attract and 
qualify a borrower are _____. 
: Origination activities 
The process of evaluating a borrower's loan application to determine the risk involved for the lender 
is 
: Underwriting 
Which of the follo...
Vorschau 2 aus 10 Seiten
In den EinkaufswagenThe process of creating a new mortgage loan, including all steps taken by a lender to attract and 
qualify a borrower are _____. 
: Origination activities 
The process of evaluating a borrower's loan application to determine the risk involved for the lender 
is 
: Underwriting 
Which of the follo...
Blanket Loan 
: Several pieces of property secured by a single loan (several lots on one note) 
Package Loan 
: A loan secured by real property plus personal property 
Down Payment Assistance Programs 
: Government and private programs whose stated purpose is to help buyers to become 
homeowners 
S...
Vorschau 3 aus 18 Seiten
In den EinkaufswagenBlanket Loan 
: Several pieces of property secured by a single loan (several lots on one note) 
Package Loan 
: A loan secured by real property plus personal property 
Down Payment Assistance Programs 
: Government and private programs whose stated purpose is to help buyers to become 
homeowners 
S...
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