Morgage Study guides, Class notes & Summaries

HUD Exam - Housing Affordability Questions and Answers Graded A All of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are typically comprised of lender fees, discount points, title insurance, home inspection fees, escrow deposit, property taxes, private mor...

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...

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? - ANSWER-TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - ANSWER-Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-occupied, residential refinance? - ANSWER-After 3 business-day rescission period...

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? - TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-occupied, residential refinance? - After 3 business-day rescission period What is the adjus...

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? - ANSWER-TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - ANSWER-Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-occupied, residential refinance? - ANSWER-After 3 business-day rescission period...

RECA Commercial EXAM 2 Correctly Solved 100% Pass Commercial real estate assets have a number of attributes that make them unique relative to other types of investments. These attributes include the following: (x10) *ANS* 1. They involve land 2.Transaction time frames are long 3. Transaction costs are high 4. they are expensive 5. They are long lasting 6. Highly regulated 7. have a long production cycle 8. are management intensive 9. are heterogeneous 10. Involve measuring return on ...

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? - TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-occupied, residential refinance? - After 3 business-day rescission period What is the adjus...

Morgage Agent Final Exam prep pt2...

Legal morgages_ third party right structure.

A blanket Morgage that allows for the release of a single parcel upon payment of a specified sum contains which clause? a. defeasance b. acceleration c. satisfaction d. release - ANSWER - d. release The Federal Housing Administration a. originates loans b. insures loans c. guarantees loans d. certifies loans - ANSWER - b. insures loans Construction loans are paid out in a. full at the begining of construction b. equal installments during the construction process c. full up...