Construction loan - Study guides, Class notes & Summaries

Xinnix Ground School Mortgage Final Exam Questions and Answers 100% Pass On an FHA loan the upfront MIP should be included when calculating cash-to-close. False The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) False A 3-Year ARM adjusts every 3 years True A Loan Officer can locate the summary of the eligibility requirements for a loan to be sold to a specific lender/investor in the lender specs. False A HELOC loan has an interest only payment ...

MAC2602 Assignment 3 (VERIFIED ANSWERS) Semester 2 2024 - Due 16 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. . 1.1 Select one example of what should be reflected in a mission statement. a) We are a distribution organisation that provides fresh produce and high-quality produce to a network of independent retailers who trade under our brands. We are not in the grocery business; we are in the people business. b) Nothing means more to us than our valued customers, and...

With respect to bearing the risk of future property price fluctuations, which of the following lending relationships is viewed as the most risky from the borrower's perspective? Correct Answer-Straight debt Developers may be attracted to a _______________________which enables them to proceed with construction without long term financing, if they expect to sell the project or refinance into a permanent loan before the term of the ______________________expires. Correct Answer-Mini-perm loan ...

(Fair and Accurate Credit Transactions Act of 2003) FACTA Purpose is to... - ... address the problem of identity theft. To facilitate consumer's access to information retained by the CRAs, and to improve the accuracy of consumer reports. (FCRA) The National Consumer Assistance Plan (NCAP) aims to... - ...improve consumer experience, data accuracy, and quality. (HMDA) In addition to originations, reportable HMDA data includes... - - Loan Applications - Loan Denials - Loan Approvals - Loa...

Which statement provides the basic justification for zoning? A. There must be regulations in place to prevent pollution B. The government does not want to encourage land development C. The inappropriate use of one's property may affect the value of another D. Professional planners want to control development - Answer- C. The inappropriate use of one's property may affect the value of another What is the rationale behind government planning of real estate development? A. To manage futu...

The coverage territory of the Business Auto form provides for "worldwide liability coverage" for private passenger autos that the insured: a) Hires, leases, rents or borrows without a driver while outside the United States, its territories and possessions. b) Purchases while outside the United States, its territories and possessions. c) Sells while outside the United States, its territories and possessions. d) Occupies while outside the United States, its territories and possession...

Which of the following is responsible for determining whether to issue a license approval? - The NMLS - The Governor - The Legislature - The Commissioner - The Commissioner. The Commissioner or state regulator for financial institutions determines licensing eligibility. A subordinate lien that allows a borrower to pay down principal and continue to make withdrawals is known as: - A reverse mortgage - An ARM - A home equity line of credit - A piggyback loan - A home equity line of cred...

Deed of Trust Loan - correct answer Deed wherein legal title in real property is transferred to a trustee, which holds it as security for a loan Factors influencing real estate supply - correct answer - Labor force availability - Construction and material costs - Government controls - Govt. financial policies Factors influencing real estate demand - correct answer - Population - Demographics - Employment and wage levels Realtor - correct answer Member of the National Associ...

Deed of Trust Loan - correct answer Deed wherein legal title in real property is transferred to a trustee, which holds it as security for a loan Factors influencing real estate supply - correct answer - Labor force availability - Construction and material costs - Government controls - Govt. financial policies Factors influencing real estate demand - correct answer - Population - Demographics - Employment and wage levels Realtor - correct answer Member of the National Associ...

Covis Brandeis Ans- A pioneer legal reformer, who was nominated by Woodrow Wilson to the supreme court in 1916 Federal Farm Loan Act (1910) Ans- A US federal law aimed at increasing credit to rural family farmers. It did so by creating a farm loan board/farm loan banks Federal Highway Act Ans- Appropriating $25 billion for the construction of interstate highways over a 20-year period, it was the largest public works project in American history to that point. When did social reform ...