Nonrecourse - Study guides, Class notes & Summaries

Forbearance or Moratorium (to avoid foreclosure) - ANSWER waiver of principal payments (interest Only) Deferred interest (Principal only) Restructure the Mortgage loan - ANSWER involves lowering the interest rates, accruals of interest, or extended maturity date. nonrecourse loan - ANSWER borrower is not personal liable for the original loan, the lender could decided to make the borrower personally liable as part of the restructuring agreement. the process of redesigning a loan - ANSW...

A buyer's property has been foreclosed on because they were unable to pay the mortgage and taxes. What type of auction would normally be conducted? Courthouse auction A mortgage foreclosure sale was conducted in which the lender received less that the outstanding loan amount. What type of judgement could the lender file? Deficiency Judgement A lender has entered into an agreement with a defaulting borrower in which the lender has agreed to accept less than the outstanding loan b...

Superior School Real Estate Chap 11 Exam 2024 Questions and Answers Substitution of Entitlement -Answer-The process by which one veteran pledges entitlement for a VA loan he or she is assuming in order to free up the entitlement of the original veteran/borrower Conforming Loans -Answer-Those processed on uniform loan forms and according to FNMA/FHLMC guidelines Alienation Clause -Answer-also known as due-on-sale clause....clause in mortgage deed of trust provides that if a buyer sells pro...

NMLS Exam Questions and Answers 100% Pass Acceleration Clause - Correct Answer️️ -Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) - Correct Answer️️ -Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC - Correct Answer️️ -home valuation code of conduct Due on Demand Clause - Cor...

Forbearance or Moratorium (to avoid foreclosure) - ANSWER waiver of principal payments (interest Only) Deferred interest (Principal only) Restructure the Mortgage loan - ANSWER involves lowering the interest rates, accruals of interest, or extended maturity date. nonrecourse loan - ANSWER borrower is not personal liable for the original loan, the lender could decided to make the borrower personally liable as part of the restructuring agreement. the process of redesigning a loan - ANSW...

NMLS Exam Study Guide Questions and Answers Due on Demand Clause - Answer-(Considered a predatory practice) The lender can demand repayment of the loan in full at anytime for any reason HOEPA - Answer-Home Ownership and Equity Protection Act (Reg Z Sec 32) Amends TILA Nonrecourse Agreement - Answer-Loan agreement under which the collateral securing a loan is the unltimate source of repayment, and the lender cannot hold the borrower personably liable in the event of default. Lender can s...

NMLS Exam Questions with Correct A Acceleration Clause - Answer-Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) - Answer-Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC - Answer-home valuation code of conduct Due on Demand Clause - Answer-(Considered a predatory practice) The lender ...

CLFP Terms 4 Questions and Answers Latest Update | Graded A+. What information is reported on the income statement? correct answerIts a presentation of revenues and expenses for a specific time period (month, quarter, year). What information is reported on the statement of cash flows? correct answerIt shows cash receipts and payments during a specific period and includes non-cash expenses like depreciation and amortization. Equation for cash flow correct answer[net income + non-cash expense...

Forbearance or Moratorium (to avoid foreclosure) correct answers waiver of principal payments (interest Only) Deferred interest (Principal only) Restructure the Mortgage loan correct answers involves lowering the interest rates, accruals of interest, or extended maturity date. nonrecourse loan correct answers borrower is not personal liable for the original loan, the lender could decided to make the borrower personally liable as part of the restructuring agreement. the process of rede...

Question #1 of 75Question ID: Written verification of the financial status of the customer is needed for all of the following EXCEPT: A)real estate limited partnerships. B)real estate investment trusts. C)oil and gas limited partnerships. D)equipment leasing limited partnerships. correct answers Real estate investment trusts (REITs) do not require proof of financial status for investment. Limited partnerships and other DPPs do. Reference: 13.1.2 in the License Exam Question #2 of 75Q...