Lifting clause - Study guides, Class notes & Summaries

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...

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...

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 ...

pearson vue practice exam questions and answers 100% pass Which of the following sections of an insurance policy would explain the term "auto" ? A.Declarations A. Declarations B.Definitions B. Definitions C.Insuring agreement C. Insuring agreement D.Obligations of the insurance company D. Obligations of the insurance company - Correct Answer ️️ -B In an application for marine insurance, a yacht owner states that the yacht will only be sailed on inland waters. If the insured...

Federal National Mortgage Association (FNMA) known as, Fannie Mae - ANSWERSbegan in 1938 as an agency of the federal government In 1968, Fannie Mae became a privately owned and managed corporation Fannie Mae operates exclusively in the secondary market and provides support to mortgage lending institutions in the primary market. Freddie Mac is a federally chartered corporation established as the Federal Home Loan Mortgage Corporation (FHLMC) - ANSWERSin 1970 for the purpose of purchasing mortg...

If contracted laundry services are provided off site: - ANSWER-The use of commercial laundry services is required by the contractor based on Department of Health. For residents with dementia, optimal food choices are best achieved by: - ANSWER-Good screening, proper nutrition and hydration, and pleasant meal times. Information should be added to an ICP: - ANSWER-At a minimum when the resident has a significant change of condition. A resident has the right to participate in social, relig...

SHRM-CP Practice Test 1 Questions With Correct Answers Latest 2024/2025 | Graded A+. When employees leave work early or purposefully work at a slow pace, they are engaging in: a. property deviance b. production deviance c. political deviance d. personal aggression - Correct Answer-b. production deviance Intentionally performing at a less than optimal rate In which business structure do partners exist mainly as investors, without much influence on daily operations? a. limited liability p...

SHRM CP Practice Test 1 Questions With Correct Answers Latest | Graded A+/ In which business structure do partners exist mainly as investors, without much influence on daily operations? a. limited liability partnership b. sole proprietorship c. general partnership d. joint venture - Correct Answer-a. limited liability partnership aka limited partnership, usually professional businesses like legal or accounting firms Which piece of legislation declared that back pay awards cannot be a par...

When does an Article 32 Investigation have to be conducted? - CORRECT ANSWER After Preferral, but prior to referral The maximum sentence for disobeying a lawful order is 2 years. In a Special Court-Martial. what is the maximum sentence that can be given? - CORRECT ANSWER 1 Year (12 months A Sgt was offered a Summary Court-Martial. Can he refuse it? Does he have to have a reason to refuse it? - CORRECT ANSWER He can refuse it and does not have to have a reason. What is the...