What is a lenders yield - Study guides, Class notes & Summaries

The amount the borrower makes prior to any deductions for taxes or insurance is: A) Guaranteed income B) Net income C) Gross income D) Gross margin - Gross income _______: In the Texas Constitution, a principle residence of a family or adult single person is protected from forced sale for all debt except: property taxes; federal tax liens of both spouses; a home equity lien.....etc... - Homestead ______ ______ ____: lenders use what is called a front-end ratio, which is reflected as a pe...

CMB Exam – Study Questions With 100% Verified Answers According to federal law, which of the following transactions are subject to the three-day right of rescission? - answerPrimary residence for rate/term and/or cash-out refinance. What federal law governs right of rescission? - answerTruth in Lending Act What are 3 borrower qualifications unique to the VA loan product? - answer1. Certificate of Eligibility 2. Active or previous duty service w/ entitlement available 3. VA loans do not...

1.The practice of getting people to sell their homes at bargain prices by suggesting that certain ethnic groups are going to move into the area is nicknamed: 1.Price fixing 2.Redlining 3.Steering 4.Blockbusting - Correct Choice:4 2.You and the borrower believe an Adjustable Rate Mortgage would be best for the borrower. What is the name of the booklet you are required to give? 1.CHARM Booklet 2.ARM Disclosure 3.Fair Lending Practices Booklet 4.RESPA Booklet - Correct Choice:1 3.How many d...

What is a Lender's Yield? correct answers Implicit interest rate received on a loan. What are Third-Party Expenses? correct answers Up-front expenses incurred by borrower but, not paid to lender. What is not a Third-Party Expense? correct answers Mortgage Insurance Premium Lender's Title Insurance Charges to record your mortgage Appraisal Mortgage Payment Survey What is the effect of paying Third-Party payments on the borrower? correct answers Borrow net less cash at loan closing...

Rockwell Exam Real Estate Classes WA Final Exam 1 Questions and Answers!A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed - ANSWER b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated as the r...

Texas Real Estate Finance Final Ex Why do lenders collect reserve funds at the property closing? A) To get a higher yield in their investment B) To be sure money will be available for tax and insurance purposes C) To have extra money that will accrue interest D) To hedge against increases in taxes or insurance premiums - ANSWERSB) To be sure money will be available for tax and insurance payments The cost recovery period for land improvements is how long? A) 15 years B) 25 years C) 2...

TEXAS SAE: REAL ESTATE APPRAISAL EXAM WITH COMPLETE SOLUTIONS Which two terms are synonymous and are defined as the amount of rent typical for properties that are comparable to the subject property? Economic rent, market rent Which of the following properties would you expect to appraise highest? Q1, C1 There are many advantages to holding property within a trust. One of the most important advantages is that some trusts ______. Avoid probate Ken, Barbie, and Skipper owned a property as...

Rockwell Exam Real Estate Classes WA Final Exam 2023/2024 With Complete Solution 100%Correct. A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed - answerb. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will ...

Retained Earnings represent... - correct answer a) Stockholder's equity b) Earned through profitable operations c) Not yet used for dividends Par Value is... - correct answer An arbitrary amount assigned by a company to a share of stock upon original issuance Why do investors purchase preferred stock? - correct answer Pays a fixed dividend Receives dividends before common stockholders Receives assets before common stockholders if corporation ...

TEXAS SAE: REAL ESTATE APPRAISAL EXAM WITH COMPLETE SOLUTIONS Which two terms are synonymous and are defined as the amount of rent typical for properties that are comparable to the subject property? Economic rent, market rent Which of the following properties would you expect to appraise highest? Q1, C1 There are many advantages to holding property within a trust. One of the most important advantages is that some trusts ______. Avoid probate Ken, Barbie, and Skipper owned a property as...