Exam (elaborations)
Champions Real Estate Finance: Questions And Answers
- Course
- Institution
Champions Real Estate Finance: Questions And Answers
[Show more]
Seller
Follow
LeCrae
Reviews received
Content preview
Champions Real Estate Finance:Questions And Answers
mortgage Broker Correct Ans - Functions as a middleman between the
borrower and the lender, negotiating, selling or arranging loans to be
delivered to large investors
Mortgage Banker Correct Ans - Provide their own funds for the
purpose of providing mortgage financing
Correspondent Lender Correct Ans - Smaller in scale then mortgage
bankers or brokers, these lenders typically extended loans with their own
funds at their own risk
Origination Correct Ans - The process of creating a new mortgage loan
Underwriting Correct Ans - Detailed process of evaluating a borrowers
loan application to determine the risk involved for the lender
Closing/Settlement Correct Ans - Consummation of a contractual real
estate transaction in which all appropriate documents are signed and the
proceeds of the mortgage loan are then distributed by the lender
Funding Correct Ans - The process of transferring funds into a title or
escrow company for disbursement
Housing and Economic Recovery Act of 2008 (HERA) Correct Ans -
Designed to assist with recovery and revitalization of America's residential
housing market
SAFE Act (Secure & Fair Enforement of Mortgage Licensing Act) Correct
Ans - Sets a minimum standard for licensing and registering mortgage loan
originators.
M1 Correct Ans - Sum of currency held by the public and transaction
deposits at depository institutions
, M2 Correct Ans - M1 plus savings accounts, certificates of deposit, and
other liquid assets
monetary policy Correct Ans - Maintenance of a stable money supply
that provides for growth in the economy while keeping inflation in check.
Federal reserve is responsible for monetary policy
fiscal policy Correct Ans - Federal government spending.
The Federal Reserve Correct Ans - The central banking system of the
United States
Monetary inflation Correct Ans - Excess of money supply in the market
discount rate Correct Ans - Interest rate a Reserve Bank charges
eligible financial institutions to borrow funds on a short term basis.
federal funds rate Correct Ans - Is the rate that the federal reserve
charges banks for unsecured loans most of which are for a very short term
(sometimes overnight) banks use these to meet their liquidity requirements
when withdrawals threaten to exceed cash on hand
US Treasury Correct Ans - Primarily responsible for raising funds to
finance the operations of the US government. Management of fiscal policy
Office of the Comptroller of the Currency (OCC) Correct Ans - charters
and regulates national banks
US Mint Correct Ans - Make US coins
Department of housing and urban development (HUD 1965) Correct Ans
- Create strong sustainable inclusive communities and quality affordable
homes.
The Federal Housing Administration (FHA) Correct Ans - Provides
mortgage loans made by FHA approved lenders through the United States and
its territories
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LeCrae. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now