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 p...
which agency insures deposits in bank and thrift i
the type of foreclosure that involves the lender f
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Champions school of real estate
Champions school of real estate
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By: ntrnwilhelm • 5 months ago
By: TIFFACADEMICS • 5 months ago
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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 -
Monetary inflation Which agency insures deposits in bank and thrift institution for up to $250,000? - CORRECT ANSWER -Federal Deposit Insurance Corporation prohibit housing discrimination based on sex, race, color, religion, national origin, disabilities, or familial status - CORRECT ANSWER -Federal Fair Housing All residential mortgage loan originators must now be registered with... - CORRECT ANSWER -Nationwide Mortgage Licensing System and Registry (NMLSR) The practice of refusing to provide financing in a particular area because of the location - CORRECT ANSWER -Redlining What was the Community Reinvestment Act (CRA)? - CORRECT ANSWER -Law against bank to ensure that banks would serve the needs of the community The Texas Veteran's Loan Program - CORRECT ANSWER -Buyes loans from lender To participate in the program, the Veteran obtains a FHA, VA, or conventional loan from participating lenders - CORRECT ANSWER -Texas Veteran's Loan Program Texas Veterans Land Loan - CORRECT ANSWER -Charges less in fees What is TDHCA? - CORRECT ANSWER -(Texas Department of Housing and Community Affairs) Responsible for affordable housing. The Housing Assistance Program... - CORRECT ANSWER -Is a loan that is eligible for Veterans, military member and their spouses The creditor must ensure that the consumer receives the Closing Disclosure form at lease ________ days before the consumer closes the loan - CORRECT ANSWER -3 Business days Freddie MAC is a federally chartered corporation for the purpose of... - CORRECT ANSWER -Purchasing mortgages in the secondary market. Created in the 1970 to purchase mortgages in the secondary market - CORRECT ANSWER -Freddie MAC The market where borrowers and mortgage lender come together to create and negotiate terms of a mortgage transaction is called... - CORRECT ANSWER -The Primary Market Addresses imbalance of mortgage credit among regions of the unite state by making funds available. (focus attention to help pump more money into the economy) - CORRECT ANSWER -Fannie Mae It standardized mortgage loans - CORRECT ANSWER -Fannie Mae Allows lenders to originate mortgage for sale rather than for portfolio investment. (lower rates better fees) - CORRECT ANSWER -Fannie Mae Primary Market lender include... - CORRECT ANSWER -Saving and loans, commercial banks, mutual saving banks, mortgage company's, credit union, individual, or any person or business that provide cash for someone seeking a mortgage While the majority of loans are sold in the secondary market, many of them are retained. What is this called? - CORRECT ANSWER -Portfolio loans Most mortgage brokers specialize as the "_____" between the borrower and the lender - CORRECT ANSWER -Middleman One advantage of municipal bonds is that... - CORRECT ANSWER -Interest paid to investor is not subject to federal income tax, making them appealing to investor who needs to shelter some income from taxation A claim, lien, charge, or liability attached to and binding real property - CORRECT ANSWER -Encumbrance A right given by law to certain creditors to have debts paid out of the properly of a defaulting debtor, usually through a court sale - CORRECT ANSWER -Lien A borrower is known as a - CORRECT ANSWER -Mortgagor
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