Champions School Of Real Estate – FINANCE Questions & Answers (rated A)

Champions School Of Real Estate – FINANCE Questions & Answers (rated A) The process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower are _____. - ANSWERSOrigination activities The process of evaluating a borrower's loan application to determine the risk involved for the lender is - ANSWERSUnderwriting Which of the following Federal Fair Housing statues prohibit housing discrimination - ANSWERSNational Origin All residential mortgage loan originators must now be registered with the ______. - ANSWERSNationwide Mortgage Licensing System and Registry (NMLSR) A young couple would like to buy a rundown house, with a high credit score, but the lender refuses to sell in that location. What is the lender guilty of? - ANSWERSRedlining under the Community Reinvestment Act (CRA) The ______ prohibits Redlining. - ANSWERSCommunity Reinvestment Act The state of Texas plays a role in affordable housing through the _______. - ANSWERSThe Texas Department of Housing and Community Affairs (TDHCA) To participate in the Texas Veterans Loan Board Program a veteran can obtain any of these loans: A. VA