Subordination clause - Study guides, Class notes & Summaries

A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) : Non-Conforming Loan VA : Veteran's administration - assists veterans in the purchase of housing by guaranteeing loans) Seller's equity : Cash price minus the loan balance A clause often found in a blanket loan allowing the borrower to obtain partial releases of specific lots by making required lump sum payments. : Release Clause One percent of a loan that is a loan processing fee : Origination Point 2 ...

After a trustee's sale, there is money left over after paying the beneficiary of the first trust deed. This money would go first to the: Ans Beneficiary of the second (the second in line to receive what they are owed) The owner of the property encumbered with a first and second trust deed wants to refinance the first trust deed. What should the second trust deed contain? Ans A subordination clause (a clause where the holder of a mortgage/trust deed permits an additional (NEW) lien to t...

Blanket Loan : Several pieces of property secured by a single loan (several lots on one note) Package Loan : A loan secured by real property plus personal property Down Payment Assistance Programs : Government and private programs whose stated purpose is to help buyers to become homeowners Subordination Clause : a clause allowing a lender to move to or take a lower lien position Mortgage : Lender under a mortgage 2 Non-Judicial Foreclosure : foreclosure that does not require court ...

Syntax - how words are put together to form sentences Coordination - How to connect ideas together Subordination - How you make one idea subordinate to another idea Modifier - a descriptive phrase or word Comma Splice - when two complete sentences are tied together with a comma Run-on Sentence - Two sentences put together without appropriate puncuation Sentence Fragment - an incomplete sentence Simple Sentence - one independent clause Compound Sentence - two or more independent clauses 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 owneroccupied, residential refinance? - ANSWER-After 3 business-day rescission period W...

Real Estate- Maine Learning GroupEquitable Right of Redemption - correct answer The right of a defaulted borrower to redeem the property after foreclosure proceedings have begun & before the foreclosure sale by paying off the loan balance, plus interest until the day of payoff & costs. Written Policy Manual - correct answer Identifies & describes the types of real estate brokerage relationships in which the broker & affiliated licenses may engage. (Maine requirement) National Association o...

Amenities of residential real estate are: - A) The property's physical attributes B) Measurable on the market C) Not considered by appraisers because they are intangible qualities D) Related to its capacity to provide shelter effectively B) To restore an old home to its original condition without making any changes in the floor plan or style is referred to as - A) Rehabilitiation B) Modernization C) Reclamation D) Remodeling A) One who takes in severalty most generally takes title...

ILTS ELEMENTARY EDUCATION ALL CONTENT COMBINED LATEST QUESTIONS WITH CORRECT ANSWERS | GRADED A+. Nouns - ANSWER- A person, place, thing, or idea Common Noun - ANSWER- The class or group of people, places, and things (not capitalized) Proper Nouns - ANSWER- The names of a specific person, place, or thing (capitalized) General Nouns - ANSWER- The names of conditions or ideas Specific Nouns - ANSWER- Names people, places, and things that are understood by using your senses Collective Nouns...

Champions School Of Real Estate National/State Finance Exam || Questions & Answers (100% Correct) Champions School Of Real Estate National/State Finance Exam || Questions & Answers (100% Correct) Blanket Loan - ANSWER - Several pieces of property secured by a single loan (several lots on one note) Package Loan - ANSWER - A loan secured by real property plus personal property Down Payment Assistance Programs - ANSWER - Government and private programs whose stated purpose is to help buye...

The Gig Economy- Worker or Self Employed LATEST EDITION 2024/25 GUARANTEED GRADE A+ Preliminary Matters - The disputed cases of employment status often reflect a distinction between the written documentation (which uses the language of entrepreneurial freedom for those who provide work) and the reality of those working arrangements. This reality often reveals a high degree of control over the conduct of work through algorithms. These algorithms deploy ratings systems (such as used by Uber) for...