Champion School Of Real Estate

CHAMPION SCHOOL OF REAL ESTATE

An area of neighborhoods or subdivisions that is serviced by your firm. - ANS Geographic Farm A plan by which you develop to gain name recognition - ANS Marketing Plan Becoming different in your approach through growth and development - ANS differentiate All the properties in a particular price range, in the area your firm services - ANS economic farm Words or content by which top producers are using to be successful. - ANS hot buttons Building ________________...

Loan processing - ANS The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision Underwriting - ANS The process of evaluating a borrowers loan application to determine the risk involved for the lender Funding - ANS The process of transferring funds to a title or escrow company for disbursement Servicing - ANS Sending monthly payment statements and collecting monthly payments maintaining payment ...

_____ is the consummation of a contractual real estate transaction in which all appropriate documents are signed, and the mortgage loan proceeds are disbursed by the lender. - ANS Closing The primary determinants of real estate values are supply and _____. - ANS Demand _____ is something of value that can be pledged as security for repayment of a loan. - ANS Collateral Servicing includes which of the following activities? - ANS Maintaining records of payment The monet...

Brokerage - ANS The aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction Property Managers are generally responsible for the following - ANS Day to Day operations, Maintenance and Tenant Relations RMLO - ANS Mortgage Brokers are known as NAR - ANS The largest trade organization representing real estate professionals is Value - ANS A fair return or equivalent in goods, services, or money for something ...

RMLO - ANS Residential Mortgage Loan Originator Riparian Rights - ANS Unrestricted rights granted to owners of land located along the course of a river or stream. Littoral Rights - ANS Unrestricted rights granted to owners whose land borders oceans and large, navigable lakes that have a tide. Fannie Mae (FNMA) 1938 - ANS The Federal National Mortgage Association, which is a congressionally chartered, shareholder-owned company that is the nation's largest supplier of h...

Mortgage loan originators who make cold calls must comply with the requirements of the National Do-NotCall registry and the Do-Not-Call rules. The loan originator needs to update any download of the registry at least every: - ANS 31 days The appraisal approach that is used as the best indicator of value for existing properties is - ANS market data approach The Equal Credit Opportunity Act, is implemented by the CFPB's: - ANS regulation B FHA sellers are permitted to provi...

Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies. - ANS Servicing The process of creating a new mortgage loan - ANS 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 - ANS Loan Processing The process of transferring funds to a title or escrow company for disbursement - ANS Funding The process o...

Loan Estimate (LE) - ANS A document delivered or mailed to customers by a lender within 3 business days of mortgage application. The _______ ______ provides an estimate of closing costs and fees as well as the loan terms. Appraisal Independence Requirements (AIR) - ANS Prohibit a mortgage lender, broker, or a real estate agent or broker pressuring an appraiser to reach certain value in conjunction with an appraisal of real property. Periodic Rate Cap - ANS Is a limitation on ho...

Primary Mortgage Market - ANS The market where borrowers and mortgage originators come together to negotiate terms and effectuate mortgage transaction. Mortgage brokers, mortgage bankers, credit unions and banks are all part of the primary mortgage market. Secondary Mortgage Market - ANS A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages. Commercial Banks - ANS Working capital is primarily generated through depos...