Morgage - Study guides, Class notes & Summaries

The following contributed to the increase in foreclosure rates, except: A. Subprime lending B. Risky loan products with feature like negative amortization C. Demand from the secondary market D. Homeowners paying off mortgages early E. Using teaser rates to qualify more borrowers. - Answer-D. Homeowners paying off mortgages early. Making Home Affordable was created in order: A. To make it easier for borrowers to understand loan terms, to require homeownership counseling for some mortgage...

NMLS Safe Test Mortgage Licensing Practice Exam Questions With Verified Answers Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - answerTILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - answerLoan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-o...

HUD Exam - Avoiding Foreclosure 1The following contributed to the increase in foreclosure rates, except: A. Subprime lending B. Risky loan products with feature like negative amortization C. Demand from the secondary market D. Homeowners paying off mortgages early E. Using teaser rates to qualify more borrowers. - ANSWER D. Homeowners paying off mortgages early. Making Home Affordable was created in order: A. To make it easier for borrowers to understand loan terms, to require homeowne...

Bookkeepers typically... -ANSWER- Record financial transactions, reconcile bank accounts, manage accounts receivable, manage accounts payable, work with tax preparers and assist with tax compliance, and generate financial statements. As a bookkeeper what would Honesty mean? -ANSWER- Reporting financial data accordingly and timely, owning up to and trying ti fix any mistakes, and being open and transparent with clients about their business. As a bookkeeper what would Objectivity mean? -ANSW...

The following contributed to the increase in foreclosure rates, except: A. Subprime lending B. Risky loan products with feature like negative amortization C. Demand from the secondary market D. Homeowners paying off mortgages early E. Using teaser rates to qualify more borrowers. - ANSWER D. Homeowners paying off mortgages early. Making Home Affordable was created in order: A. To make it easier for borrowers to understand loan terms, to require homeownership counseling for some mortgag...

The following contributed to the increase in foreclosure rates, except: A. Subprime lending B. Risky loan products with feature like negative amortization C. Demand from the secondary market D. Homeowners paying off mortgages early E. Using teaser rates to qualify more borrowers. - ANSWER D. Homeowners paying off mortgages early. Making Home Affordable was created in order: A. To make it easier for borrowers to understand loan terms, to require homeownership counseling for some mortgag...

Civil Service Spelling Exam 148 Questions with Verified Answers Genius - CORRECT ANSWER Genius Plagiarize - CORRECT ANSWER Plagiarize Accommodate - CORRECT ANSWER Accommodate Lightning - CORRECT ANSWER Lightning Acquaintance - CORRECT ANSWER Aquaintance Prairie - CORRECT ANSWER Prairie Peaceable - CORRECT ANSWER Peaceible Environment - CORRECT ANSWER Enviroment Dining - CORRECT ANSWER Dining Peculiar - CORRECT ANSWER Peculiar Committee - CORRECT ANSWER Committee ...

How must the cost of borrowing be expressed in a borrower disclosure form? - ANSWER The cost of borrowing must be disclosed as an annual percentage rate, section 8.1 of Regulation 191/08 states that it must also be disclosed in dollars and cents over the course of the term for all fixed and variable rate mortgages. When or under what circumstances would a Broker not have to supply his or her borrower with a borrower disclosure form? - ANSWER If the brokerage does not require the borrower t...

Bookkeeping Class by Intuit Bookkeepers typically... - Answer- Record financial transactions, reconcile bank accounts, manage accounts receivable, manage accounts payable, work with tax preparers and assist with tax compliance, and generate financial statements. As a bookkeeper what would Honesty mean? - Answer- Reporting financial data accordingly and timley, owning up to and trying ti fix any mistakes, and being open and transparent with clients about their business. As a bookkeeper w...

Champion Real Estate Prep Questions and Answers Dodd-Frank Act (the Wall Street Reform and Consumer Protection Act) - Answer-Combined TILA and RESPA into TRID Gross income multiplier - Answer-Price divided by rent equals 2 - Answer-A broker can offer a guaranteed buyback of a property after ___ yr pd of ownership 10 - Answer-The borrower has __ days after receiving LE to respond to lender Release clause - Answer-In blanket loan. Allows borrower to obtain partial releases of specific lot...