Nonrecourse Study guides, Class notes & Summaries
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CHAMPIONS REAL ESTATE FINANCE GRADED A+ ALREADY PASSED 2023
- Exam (elaborations) • 22 pages • 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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Bermuda Real Estate Exam Questions with Correct Answers Graded A+
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Bermuda Real Estate Exam Questions 
with Correct Answers Graded A+ 
Defect/Cloud in the title Conflicting claims that prevent the absolute legal conveyance of 
CLEAR TITLE 
Period to Period is a type of leasehold that: Has no specific expiration but the length is 
specified (like a month to month lease) 
Net Lease lease in which the tenant pays some or all of the operating expenses of the 
property in addition to rent. Often commercial. 
Adverse Possession A person takes possession & use of ...
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Bermuda Real Estate and Licensing Exam with Complete Solution Latest 2024/2025.
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Bermuda Real Estate and Licensing Exam with Complete Solution Latest 2024/2025. 
Defect/Cloud in the title - Ans Conflicting claims that prevent the absolute legal 
conveyance of CLEAR TITLE 
Period to Period is a type of leasehold that: - Ans Has no specific expiration but the 
length is specified (like a month to month lease) 
Net Lease - Ans lease in which the tenant pays some or all of the operating 
expenses of the property in addition to rent. Often commercial. 
Adverse Possession - Ans A ...
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Champions real estate finance Exam Questions with Verified Answers
- Exam (elaborations) • 8 pages • 2023
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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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NMLS Exam Questions with Correct Answers
- Exam (elaborations) • 31 pages • 2024
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NMLS Exam Questions with Correct Answers 
 
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) Th...
Too much month left at the end of the money?
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NMLS QUESTIONS WITH SOLUTIONS, GRADED A+
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NMLS QUESTIONS WITH SOLUTIONS, GRADED A+ 
Acceleration Clause 
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) 
Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) 
 
 
 
 
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Appraiser Independance Requirements replace...
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Bermuda Real Estate and Licensing Exam with Complete Solution Latest 2024/2025.
- Exam (elaborations) • 18 pages • 2024
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Bermuda Real Estate and Licensing Exam with Complete Solution Latest 2024/2025. 
Defect/Cloud in the title - Ans Conflicting claims that prevent the absolute legal 
conveyance of CLEAR TITLE 
Period to Period is a type of leasehold that: - Ans Has no specific expiration but the 
length is specified (like a month to month lease) 
Net Lease - Ans lease in which the tenant pays some or all of the operating 
expenses of the property in addition to rent. Often commercial. 
Adverse Possession - Ans A ...
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NMLS STUDY GUIDE QUESTIONS 2024.
- Exam (elaborations) • 42 pages • 2024
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NMLS STUDY GUIDE QUESTIONS 2024. 
Acceleration Clause - correct 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) - correct 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 - correct answer home valuation code of conduct 
 
Due on Demand Clause - correct answer (Considered a ...
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NMLS Exam Study Guide Questions and Answers
- Exam (elaborations) • 31 pages • 2024
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NMLS Exam Study Guide Questions and Answers 
 
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 seize (and sell) the collateral but cannot seize non-pledged asset or property. 
 
ReConveyance - Answer-Method in which a lein is removed from a property when payment is made in full. 
 
Dodd-Frank Wall Street Reform and Consumer P...
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NMLS questions with correct answers
- Exam (elaborations) • 52 pages • 2023
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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 can demand repayment of the loan in full at ...
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