Borrower mortgagor - Study guides, Class notes & Summaries

Champions Real Estate Finance Exam (2024/ 2025) 100% Correct Questions and Verified Answers| Grade A Q: The money that mortgage companies use to make loans come from the sale of ________, which is considered a business transaction, not a savings account deposit procedure. Answer: Bonds Q: Government entities regularly sell bonds to Answer: Fund major capital investments Q: Advantage of municipal bonds is Answer: That the interest paid to investors is not subj...

A __________ is a permanent change in one or more of the terms of a borrower's loan. Loan Qualification Loan Modification Loan Approval Loan Origination - ANS IS Loan Modification What time period must borrowers have in job history with the same employer to qualify? 2 months 6 months 1 year 2 years - ANS IS 2 years Unscrupulous actions carried out by a lender to entice, induce and/or assist a borrower in taking a mortgage that carries high fees, a high interest rate, strips the borro...

Borrower (Mortgagor) (Ans- An individual who applies for and receives funds in the form of a loan and is obligated to repay the loan in full under the terms of the loan. Title (Ans- Document that gives evidence of ownership of a property. Also indicates the rights of ownership and possession of the property. Individuals who will have legal ownership in the property are considered "on title" and will sign the mortgage and other documentation Refinancing (Ans- The process of paying ...

PSI NJ Real Estate Exam, PSI Practice Test|100% Verified Complete solutions|Newly Updated 2023! Water Rights The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is an agent to the broker and a subagent to the principal. Depreciation is calculated based on the Cost of the building only. When a property owner uses his home as collateral for a loan and creates a lien i...

mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer- The process of creating a new mortgage loan U...

Champions Real Estate Finance Exam (Latest 2024/ 2025 Update) 100% Correct Questions and Verified Answers| Grade A Q: All residential mortgage loan originators must register with Answer: NMLSR National Mortgage Licensing System & Registry Q: Who is responsible for affordable housing Answer: TDHCA Texas Department of Housing & Community Affairs Q: Who is applicable to all federally related mortgage loans Answer: RESPA Real Estate Settlement Procedure Act ...

N7. The instrument that the purchaser gives promising to pay back a loan is a: A. Mortgage B. Lien C. Deed of trust D. Note - ANSWERSD. Note. The promissory note, often called the "note," is the promise made by the buyer to the lender to repay the loan. N7. Who must sign the mortgage and the note? A. Mortgagor B. Mortgagee C. Trustee D. Beneficiary - ANSWERSA. Mortgagor. The borrower is the mortgagor. Remember borrower and mortgagor. N7. Who gives real estate as security for ...

Title Theory - lender owns, borrower has equitable title Hypothecation - pledging property as collateral for a loan without giving up possession Mortgagee - Lender Mortgagor - borrower Non Judicial foreclosure - *CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after 125 days Strict foreclosure - No sale. Full legal title given to lender, loss of equity for borrower Judicial foreclosure - done through courts in *Title Theory states Conversion...

Title Theory (Ans- lender owns, borrower has equitable title Hypothecation (Ans- pledging property as collateral for a loan without giving up possession Mortgagee (Ans- Lender Mortgagor (Ans- borrower Non Judicial foreclosure (Ans- *CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after 125 days Strict foreclosure (Ans- No sale. Full legal title given to lender, loss of equity for borrower Judicial foreclosure (Ans-...

COLORADO REAL ESTATE EXAM PREP EXAM REVIEW QUESTIONS AND ANSWERS. VERIFIED. Title Theory - -lender owns, borrower has equitable title Hypothecation - -pledging property as collateral for a loan without giving up possession Mortgagee - -Lender Mortgagor - -borrower Non Judicial foreclosure - -*CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after 125 days Strict foreclosure - -No sale. Full legal title given to lender, loss of equity for b...