CHAMPIONS SCHOOL OF REAL ESTATE FINANCE EXAM WITH GUARANTEED ACCURATE ANSWERS
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Course
CHAMPIONS SCHOOL OF REAL ESTATE FINANCE
Institution
CHAMPIONS SCHOOL OF REAL ESTATE FINANCE
Sending monthly payment statements and collecting
monthly payments, maintaining payment
records and following up on delinquencies. - ACCURATE ANSWERS Servicing
The process of creating a new mortgage loan - ACCURATE ANSWERS Origination
The process of collecting information about a borrower i...
CHAMPIONS SCHOOL OF REAL ESTATE
FINANCE EXAM
CHAMPIONS SCHOOL OF REAL ESTATE FINANCE EXAM WITH GUARANTEED
ACCURATE ANSWERS
Sending monthly payment statements and collecting
monthly payments, maintaining payment
records and following up on delinquencies. - ACCURATE
ANSWERS✔✔ Servicing
The process of creating a new mortgage loan - ACCURATE
ANSWERS✔✔ Origination
The process of collecting information about a borrower in order to build
a loan file that will be used to make an underwriting decision -
ACCURATE ANSWERS✔✔ Loan Processing
,The process of transferring funds to a title or escrow company for
disbursement - ACCURATE ANSWERS✔✔ Funding
The process of evaluating a borrower's loan application to determine the
risk involved for the lender - ACCURATE ANSWERS✔✔ Underwriting
When was the FHA created? - ACCURATE ANSWERS✔✔ 1934
Who funds the FHA? - ACCURATE ANSWERS✔✔ The FHA funds
itself
How long is the lifespan of a $20 bill? - ACCURATE ANSWERS✔✔
7.9 years
What is the "prime rate?" - ACCURATE ANSWERS✔✔ The interest
rate that is determined by individual banks
Who provides VA home loans? - ACCURATE ANSWERS✔✔ Private
lenders
The USDA Single Family Housing Direct Home Loan is also known as
____________ - ACCURATE ANSWERS✔✔ Section 502 Direct Loan
Program
, In order to qualify for exemption from capital gains, the property must
have been the primary residence for two of the previous
_______________ years. - ACCURATE ANSWERS✔✔ 5 years
A loan with no discount points is known as a _____________. -
ACCURATE ANSWERS✔✔ Par Loan
Relates to federal government spending - ACCURATE ANSWERS✔✔
Fiscal Policy
Insures deposits in banks and thrift
institutions - ACCURATE ANSWERS✔✔ Federal Deposit Insurance
Corporation
Set by the board of directors of the
Federal Reserve Banks, subject to
approval by the Board of Governors - ACCURATE ANSWERS✔✔
Discount Rate
Policy that deals with interest rates
and the supply of money in the US
economy. - ACCURATE ANSWERS✔✔ Monetary Policy
Buying or selling government securities by the Federal Reserve -
ACCURATE ANSWERS✔✔ Open-Market Operations
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