100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
REAE 3325 Exam 3 - Chapters 11-13 + 16 with Complete Questions and Answers 100% Correct $12.49   Add to cart

Exam (elaborations)

REAE 3325 Exam 3 - Chapters 11-13 + 16 with Complete Questions and Answers 100% Correct

 1 view  0 purchase
  • Course
  • REAE 3325
  • Institution
  • REAE 3325

REAE 3325 Exam 3 - Chapters 11-13 + 16 with Complete Questions and Answers 100% CorrectREAE 3325 Exam 3 - Chapters 11-13 + 16 with Complete Questions and Answers 100% CorrectREAE 3325 Exam 3 - Chapters 11-13 + 16 with Complete Questions and Answers 100% Correct Mortgage banking companies: a. Coll...

[Show more]

Preview 2 out of 11  pages

  • October 29, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • REAE 3325
  • REAE 3325
avatar-seller
NursingTutor1
REAE 3325 Exam 3 - Chapters 11-13 + 16
with Complete Questions and Answers
100% Correct

Mortgage banking companies:
a. Collect monthly payments and forward them to the mortgage investor.
b. Arrange home loan originations, but do not make the actual loans.
c. Make home loans and fund them permanently.
d. None of the above. - ANSWER-a. Collect monthly payments and forward them to the
mortgage investor.


In the last 20 years, the mortgage banking industry has experienced:
a. Nearly complete obsolescence.
b. Decentralization.
c. Limited consolidation.
d. Rapid consolidation. - ANSWER-d. Rapid consolidation.


Currently, which type of financial institution in the primary mortgage market provides the
most funds for the residential (owner-occupied) housing market?
a. Life insurance companies.
b. Thrifts
c. Credit unions.
d. Commercial banks - ANSWER-d. Commercial banks


For conforming conventional home loans, the standard payment ratios for underwriting
are:
a. 28 percent and 36 percent.

, b. 25 percent and 33 percent.
c. 29 percent and 41 percent.
d. 33 percent and 56 percent. - ANSWER-a. 28 percent and 36 percent.


The numerator of the standard housing expense (front-end) ratio in home loan
underwriting includes:
a. Monthly principal and interest.
b. Monthly principal, interest, and property taxes.
c. Monthly principal, interest, property taxes, and hazard insurance.
d. All of these plus monthly obligations extending 10 months or more. - ANSWER-c.
Monthly principal, interest, property taxes, and hazard insurance.


Over the last two decades the reduced importance of certain institutions in the primary
mortgage market has been largely offset by an expanded role for others. Which has
diminished, and which has expanded?
a. Commercial bankers; thrifts.
b. Mortgage banking; commercial banks.
c. Commercial banks; mortgage banking.
d. Thrifts; mortgage banking and commercial banks. - ANSWER-d. Thrifts; mortgage
banking and commercial banks.


Warehousing in home mortgage lending refers to:
a. Short-term loans made by mortgage bankers to commercial banks.
b. Short-term loans made by commercial banks to mortgage bankers.
c. Long-term loans made by commercial banks to mortgage bankers.
d. Short-term loans to finance the construction of builder warehouses. - ANSWER-b.
Short-term loans made by commercial banks to mortgage bankers.


The most profitable activity of residential mortgage bankers normally is:
a. Loan origination.
b. Loan servicing.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 NursingTutor1. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

83637 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.49
  • (0)
  Add to cart