Conventional loan - Study guides, Class notes & Summaries
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Champions School Of Real Estate – FINANCE Exam || Complete Questions & Answers (Graded A+)
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Champions School Of Real Estate – FINANCE Exam || Complete Questions & Answers (Graded A+) 
Champions School Of Real Estate – FINANCE Exam || Complete Questions & Answers (Graded A+) 
 
The process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower are _____. - ANSWER - Origination activities 
 
The process of evaluating a borrower's loan application to determine the risk involved for the lender is - ANSWER - Underwriting 
 
Which of the ...
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Champions School Of Real Estate Finance 2024 Tested And Verified
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Champions School Of Real Estate 
Finance 2024 Tested And Verified 
Seller's market - CORRECT ANSWER-When supply is low and demand is high 
Buyer's market - CORRECT ANSWER-When supply is high and demand is low 
The process of creating a new mortgage loan - CORRECT ANSWER-Origination 
The detailed process of evaluating a borrower's loan application to determine the risk 
involved for the lender - CORRECT ANSWER-Underwriting 
When there is an excess of money supply in the market - CORRECT ANSWER...
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MLO Test Questions and answers correctly solved 2023/2024
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MLO Test Questions and answers correctly solved 2023/2024Which of the following best describes a 2nd mortgage loan? 
(A) A conventional mortgage that is conforming 
(B) A conventional mortgage that is non-conforming 
(C) A conforming loan that is non-conventional 
(D) A non-conforming loan that is non-conventional - correct answer (B) A conventional mortgage that is non-conforming 
 
WHY? 
 
Non-conforming because it is a Second Mortgage and that falls outside the Frannie Mae - Freddie Mac guide...
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RMLO - Champions School of Real Estate| 109 questions with 100% correct answers
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A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. 
secondary market 
 
 
 
The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. 
Federal Housing Finance Agency (FHFA) 
 
 
 
The ____ guarantee allows mortgage lenders to obtain a better price for their loan in the capital markets. 
Gov't. National Mortgage Association - Ginnie Mae 
 
 
 
...
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CHAMPIONS REAL ESTATE FINANCE GRADED A+ ALREADY PASSED 2023
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Loan-to-Value Ratio (LTV) - correct answer 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. 
 
Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) 
 
Blanket Mortgage - correct answer Covers more than one piece of property. 
 
Wraparound Mortgage - c...
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Champions real estate finance Exam Questions with Verified Answers
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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...
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HUD Certification Questions and Answers 100% Pass
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HUD Certification Questions and Answers 100% Pass 
Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? 
Pay stub 
Retirement plan statement 
List of assets Current lease Pay stub 
A client would like purchase a home within one year. The client is motivated to increase household income as a way to save for a down payment and qualify for a loan. Which is the best solution for the client to reach this goal? 
Find a second job 
Bo...
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45 Hour Post Licensing Exam Correct 100%
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A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for - ANSWER $300,000 
 
What facts need not be disclosed in a real estate transaction? - ANSWER The property was the site of a homicide. 
 
What is a good graphic to show a seller that there will be more activity if the property is competitively priced? - ANSWER The pricing pyramid 
 
A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. Prorati...
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RECA Fundamentals Exam Questions and Answers Already Passed
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RECA Fundamentals Exam Questions and Answers Already Passed 
Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) 
Which entity has the authority to amend the Real Estate Act Provincial Legislature 
Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) 
Which of the following will occur to the supply of a good when ther...
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45 Hour Post Licensing Exam Questions with 100% Correct Answers
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A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for Correct Answer $300,000 
 
What facts need not be disclosed in a real estate transaction? Correct Answer The property was the site of a homicide. 
 
What is a good graphic to show a seller that there will be more activity if the property is competitively priced? Correct Answer The pricing pyramid 
 
A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee i...
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