Champions finance stuvia - Study guides, Class notes & Summaries
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Real Estate Finance Champions Study Guide Questions And Answers(SCORED A)
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VA loan requirements - ANSWERS· Must be honorably discharged 
· Must meet service requirements 
· Time frame of service; number of days active duty 
· Must obtain certificate of eligibility 
 
Loan terminology - origination, funding, underwriting, servicing - ANSWERS· Origination: Process of creating a new mortgage loan; includes steps to attract and qualify a borrower 
· Funding: Process of transferring funds to a title or escrow company for disbursement 
· Underwriting: Process of evalu...
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Real Estate Finance Champions Questions & Answers (RATED A)
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Origination - ANSWERThe process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower 
 
Credit reports will be ordered, in most cases from all three major national credit reporting agencies: - ANSWERExperian, Equifax, and TransUnion 
 
Not all creditors will report to all three, they will - ANSWEREach reporting agency will report a different credit score for the borrower 
 
Underwriting - ANSWERThe detailed process of evaluating a borrower's l...
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Real Estate Finance Champions Exam Questions & Answers 100% Accurate
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Real Estate Finance Champions Exam Questions & Answers 100% AccurateReal Estate Finance Champions Exam Questions & Answers 100% AccurateReal Estate Finance Champions Exam Questions & Answers 100% AccurateOrigination - ANSWER-The process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower 
 
Credit reports will be ordered, in most cases from all three major national credit reporting agencies: - ANSWER-Experian, Equifax, and TransUnion 
 
Not al...
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Champions Real Estate Finance Exam Questions and Answers 100% Accurate
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Loan Processing - ANSWER-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 - ANSWER-The process of evaluating a borrower's loan application to determine the risk involved for the lender 
 
Funding - ANSWER-The process of transferring funds to a title or escrow company for disbursement 
 
Servicing - ANSWER-Sending monthly payment statements and collecting monthly payments, maintaining payment r...
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Champions Real Estate Finance Exams Questions and Answers 100% Solved
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Underwriting -ANSWER- The process of evaluating a borrower's loan application to determine the risk involved for the lender 
 
Funding -ANSWER- The process of transferring funds to a title or escrow company for disbursement 
 
Servicing -ANSWER- Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies 
 
Benefits of home ownership: -ANSWER- Occupancy, Tax Benefits, Pride of Ownership, Security, Investment 
 
Character -ANS...
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Champions RE - Finance Exam Questions & Answers 100% verified
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3 major credit reporting agencies - ANSWER-Experian, Equifax, TransUnion 
 
Origination - ANSWER-Process of creating a new mortgage loan, including all steps by a lender to attract and qualify a borrower. 
 
Loan Processing - ANSWER-Building a file that will be used to make an underwriting decision 
 
Underwriting - ANSWER-The process of evaluating a borrower's loan application to determine risk; in-depth analysis of borrower's credit history. 
 
Closing - ANSWER-Consummation of a contractual ...
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Champions Real Estate Finance Exam Questions and Answers 100% Accurate
- Exam (elaborations) • 8 pages • 2024
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Underwriting -ANSWER- The process of evaluating a borrower's loan application to determine the risk involved for the lender 
 
Funding -ANSWER- The process of transferring funds to a title or escrow company for disbursement 
 
Servicing -ANSWER- Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies 
 
Benefits of home ownership: -ANSWER- Occupancy, Tax Benefits, Pride of Ownership, Security, Investment 
 
Character -ANS...
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Champions Real Estate Finance Exam Questions and Answers 100% Correct
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Servicing - ANSWER-Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies 
 
Benefits of home ownership: - ANSWER-Occupancy, Tax Benefits, Pride of Ownership, Security, Investment 
 
Character - ANSWER-the willingness of a borrower to make on-time payments 
 
Capacity - ANSWER-the measure of the borrowers ability to repay the debt 
 
Capital - ANSWER-the sum of all assets that the borrower has accumulated 
 
Collateral - ...
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Champions Real Estate Finance 100% Correct!!
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_____ 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. - ANSWERClosing 
 
The primary determinants of real estate values are supply and _____. - ANSWERDemand 
 
_____ is something of value that can be pledged as security for repayment of a loan. - ANSWERCollateral 
 
Servicing includes which of the following activities? - ANSWERMaintaining records of payment 
 
The monetary poli...
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TX Real Estate Finance – Champions Questions And Answers 100% Correct!
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lenders bear less risk in making an FHA loan beacuse the FHA - ANSWERSFHA is default insurance that will pay a claim to a lender in the event of a default by the homeowner 
 
portfolio loan - ANSWERSretained by the lender and it is not sold in the secondary market. commercial banks are active in residential mortgage lending 
 
an appropriate loan for a property in need of significant rehabilitation would be - ANSWERSconstruction to permanent loan 
 
a borrower plans to be in a home long term, or...
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