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REAL ESTATE FINANCE PRACTICE EXAM NEW SOLUTION 2023 COMPLETE EXAM UPDATE $10.49
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REAL ESTATE FINANCE PRACTICE EXAM NEW SOLUTION 2023 COMPLETE EXAM UPDATE

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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...

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  • August 7, 2023
  • 11
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • real estate finance
  • real estate
  • real estate finance practice exam new solution
  • is a permanent change in one or more of the terms
  • what time period must borrowers have in job
  • unscrupulous actions carrie

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  • Real Estate Finance & Investments
  • Real Estate Finance & Investments
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REAL ESTATE FINANCE PRACTICE EXAM NEW SOLUTION 2023
COMPLETE EXAM UPDATE

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 borrower of equity,
or places the borrower in a lower credit rated loan to benefit the lender.

Predatory lending
Sub prime Mortgage
Participation Agreement
Fraud - ANS IS Predatory lending

Why do lender care about unpaid taxes?

They want to ensure your mortgage payment is not late It
makes the loan difficult to sell in the secondary market
Unpaid property taxes are a superior lien to the right of the lender
Lenders don't care about unpaid taxes - ANS IS Unpaid property taxes are a
superior lien to the right of the lender

A burden, obstruction, or impediment on the property that lessens its value or makes it
less marketable.
Lien
Interest
Encumbrance
Mortgage - ANS IS Encumbrance

Which party is not included on the deed of trust?

Mortgagor
Mortgagee
Trustor

, Trustee - ANS IS Trustor

The mortgage or deed of trust will contain ___________ that permits the lender to
demand that the entire balance of the loan be repaid if the borrower defaults.
Due on sale clause
Acceleration clause
Alienation clause
Balloon clause - ANS IS Acceleration clause

One of the largest buyers of securities is _________.

Credit Unions
Pension Funds
China
American Public - ANS IS Pension Funds

A company or individual that originates mortgage loans and sells them to investors,
while taking care of borrowers loan payments, records, taxes, and insurance.

Mortgage Bankers
Mortgage Brokers
Loan Originators
Secondary Market - ANS IS Mortgage Bankers

The largest buyer of residential mortgages in the United States today.
FHLMC
GNMA
Banks
FNMA - ANS IS FNMA

Provides cash advances to members, including community banks, thrifts, credit
unions and community development financial institutions.

FNMA
FHLMC
FHLB
Banks - ANS IS FNMA

Loan amount is $337,500. Down payment is $37,500. What is the LTV?

10%
11%
90%
91% - ANS IS 90%

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