Delinquencies - Study guides, Class notes & Summaries

Real Estate Finance Champion School Exam || Questions & Answers (Graded A+) Real Estate Finance Champion School Exam || Questions & Answers (Graded A+) 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 borrowers loan application to determine the risk involved for the lender Funding - ANSWER - The process of transferring fun...

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 borrowers 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 reco...

HUD EXAM PREP 2024 WITH SOLUTIONS % Impact of Account Payment History on Credit Score - Answer -35% portion of credit score based on the payment history of accounts, including late payments, delinquencies, judgments, and liens % Impact of Amounts Owed on Accounts on Credit Score - Answer -30% portion of score based on the ratio of total credit extended to the amount of credit owed % Impact of Length of Credit History on Credit Score - Answer -15% portion of score based don the overall len...

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 borrowers 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 ...

Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies - ANSWER-Servicing The process of creating a new mortgage loan - ANSWER-Origination The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision - ANSWER-Loan Processing The process of transferring funds to a title of escrow company for disbursement - ANSWER-Funding The process of e...

% Impact of Account Payment History on Credit Score - correct answer35% portion of credit score based on the payment history of accounts, including late payments, delinquencies, judgments, and liens % Impact of Amounts Owed on Accounts on Credit Score - correct answer30% portion of score based on the ratio of total credit extended to the amount of credit owed % Impact of Length of Credit History on Credit Score - correct answer15% portion of score based don the overall length of credit...

Real Estate Finance 1 - Texas, Champions School Of Real Estate – Finance 2024 Latest Loan Processing - CORRECT 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 - CORRECT ANSWER-The process of evaluating a borrowers loan application to determine the risk involved for the lender. Funding - CORRECT ANSWER-The process of transferring funds to a title or escrow company for disburs...

The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. - Answer-Loan-to-Value Ratio (LTV) Includes both real and personal property ( fixtures and furnishings) - Answer-Package Mortgage Covers more than one piece of property. - Answer-Blanket Mortgage Method of financing which preserves the low, existing ...

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 paymen...

Florida Cam Actual Exam (Questions And Answers) A Community Association is generally defined as real or personal property, owned by two or more entities, which share the responsibility for the costs of maintenance and administration - CORRECT ANSWER-True Purchasers of a timeshare plan have a ten day contract rescission period in which to cancel the purchase - CORRECT ANSWER-True The Florida Fair Housing Act prohibits discrimination on the basis of handicap - CORRECT ANSWER-True A va...