Rated a 1 can a lender - Study guides, Class notes & Summaries

PSI REAL ESTATE SALESPERSON PRACTICE EXAM/A+ Rated/2024 A couple listed their home with a broker. After 2 months, the seller found a buyer, and the sale closed. The seller was not obligated to pay a commission to the broker. This listing was MOST likely 1. an exclusive agency listing. 2. an exclusive right to sell listing. 3. a net listing. 4. an advance fee listing. an exclusive agency listing What critical aspect of the property inspection process MUST licensees convey to prospect...

Florida Life, Health and Variable Annuity Exam/Answered/A+Rated/2023/2024 Categories of Life Insurance Ordinary, Industrial and Group Ordinary Life is individual life insurance that includes many types of TERM and PERMANENT insurance and is usually paid with monthly premiums. Is the principal type of life insurance purchased in the United States. Industrial Insurance small issue amounts with premiums collected weekly or monthly by agents at policyowner's home. Also known as BURIAL I...

Financial Analysis Questions and Answers Rated A+ Define financial analysis A systematic means of determining how well the assets of a business are being managed and controlled. Financial analysis is based on information found in financial statements.*The three most commonly used financial statements are:* *•Income Statement* (Statement of Profit and Loss; P and L). *•Balance Sheet* (Statement of Financial Condition). *•Statement of Cash Flows* (How much cash you bring in and how much cas...

Loan Signing Agent Vocabulary question & answers rated A+ - correct answer abbreviated term for the Universal Residential Loan Application 1-4 Family Rider (Assignment of Rents) - correct answer transfers the owner's right to collect rents to the lender. Could also say that additional property is subject to the security instrument such as appliances or heating and cooling equipment. It also can prohibit additional liens, offer rent loss insurance or even assignment of rents 80-10-10 Loan...

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 - ANSWER-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 - ANSWER-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, s...

HUD Practice Test and Correct Answers Already Rated A Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? Pay Stub A client would like to purchase a home within one year. The client is motivated to increase household income as a way to save for a down payment and qualify for a loan. Which is the best solution for the client to reach this goal? Find a second job A credit report may contain which information? The num...

MO Real Estate Exam Practice Questions and Answers Rated A Mo Statute 339 License Law RSMO 1986 License Law Any person who performs a RE service on behalf of another party for CONSIDERATION must be licensed; i.e. broker transactions, managing property, appraising, counseling, syndicating, auctioning Consideration Includes $ compensation, exchange of free services, or any other valuable good or service that a person expects to be paid (Vital in license law requirement) MO Real Estate Commissio...

Florida Life, Health and Variable Annuity Exam/Answered/A+Rated/2023/2024 Florida Life, Health and Variable Annuity Exam/Answered/A+ Rated/2023/2024 Categories of Life Insurance Ordinary, Industrial and Group Ordinary Life is individual life insurance that includes many types of TERM and PERMANENT insurance and is usually paid with monthly premiums. Is the principal type of life insurance purchased in the United States. Industrial Insurance small issue amounts with premiums collecte...

NMLS Practice Test Questions and answers, rated A+ 1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days - -•90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance - -cost of fund index 3) Subordinate financing relates to •seller financing. •second mortgages. •financing in the secondary mortgage market. •subprime loans. - -second mortgage 4) Explain what...

Mortgage Agent Final Exam Sample Questions With Correct Answers (100% Correct 2023/2024). Home Buyer's Program (HBP) - ANSWER The Canada Revenue Agency (CRA) has a program entitled the Home Buyer's Program (HBP) that allows a first time buyer to use up to $25,000 of their RRSPs as a down payment without paying tax on the withdrawal. The amount removed must be repaid within 15 years. CRA defines a first time buyer as an individual or the individual's spouse, or common-law partner who has ...