Real Estate Finance – Champions Questions & Answers 100% Correct!!
2 keer bekeken 0 keer verkocht
Vak
Real Estate Finance champions
Instelling
Real Estate Finance Champions
Mortgage - ANSWERSA pledge of real property as security for a debt.
Deed of Trust - ANSWERSA three party loan instrument - borrower, lender and trustee.
Note, Promissory Note - ANSWERSA personal promise to repay a debt.
Mortgagor - ANSWERSBorrower under a mortgage
Mortgagee - ANSWERSLen...
Real Estate Finance – Champions
Questions & Answers 100% Correct!!
Mortgage - ANSWERSA pledge of real property as security for a debt.
Deed of Trust - ANSWERSA three party loan instrument - borrower, lender and trustee.
Note, Promissory Note - ANSWERSA personal promise to repay a debt.
Mortgagor - ANSWERSBorrower under a mortgage
Mortgagee - ANSWERSLender under a mortgage
Beneficiary - ANSWERSLender under a deed of trust
Trustor - ANSWERSBorrower under a deed of trust
Trustee - ANSWERSA third party under a deed of trust who acts as an agent for the
lender
Power of Sale - ANSWERSA clause in a deed of trust allowing non-judicial foreclosure
Non-judicial foreclosure - ANSWERSForeclosure that does not require court
proceedings or a judgment of foreclosure - the result of power of sale clause in a deed
of trust
Hypothecation - ANSWERSThe action of pledging real property as security for a debt
Acceleration Clause - ANSWERSA clause in a mortgage allowing the lender to declare
the whole amount of the principal due and payable in the event of default by the
borrower.
Alienation Clause - ANSWERS"Due on Sale" clause stating that the balance of the debt
becomes due if the property is sold by the mortgagor
Defeasance Clause - ANSWERSA clause stating that the lien on the property is
defeated when the debt is repaid
Escalation Clause - ANSWERSA clause allowing the lender to raise the existing interest
rate - although most often associated with an Adjustable Rate Mortgage, it can be used
to overcome an alienation clause
, Prepayment Clause - ANSWERSA clause stating that the borrower can pay the entire
amount or the stated amount prior to the due date in the note and whether there will be
a penalty associated with that prepayment.
Subordination Clause - ANSWERSA clause allowing a lender to move to or take a lower
lien position
Assumption Clause - ANSWERSA clause outlining the obligations of the original
borrower and a new borrower in the event the loan is assumed
Straight Assumption - ANSWERSA new borrower assumes the payments and liability
on an existing loan and usually releasing the original borrower from liability
Assumption "subject to" - ANSWERSA new borrower assumes the payments but not
the liability on an existing loan - the original borrower remains liable
FHA - ANSWERSFederal Housing Administration - aids in home financing by insuring
high LTV loans with more lenient qualifying ratios.
MIP - ANSWERSMortgage Insurance Premium - insurance on the FHA loan - insures
the whole loan
VA - ANSWERSVeterans Admin - assists veterans in the purchase of housing by
guaranteeing loans.
DD 214 - ANSWERSVeterans discharge papers - provided to demonstrate eligibility for
a VA loan
Certificate of Eligibility - ANSWERSEvidence of VA approval of a qualified veteran for a
VA loan
CRV - ANSWERSVA appraisal - Certificate of Reasonable Value
Funding Fee - ANSWERSA fee required to be paid by the buyer, seller or included in
the loan at closing on all VA loans
Amortization - ANSWERSThe repayment or satisfaction of a debt by installment
payments of principal and interest on a regular basis
Conventional Loan - ANSWERSA loan that is neither federally insured nor guaranteed -
a private sector loan
Fixed Rate Amortized Loan - ANSWERSA loan with equal regular payments of principal
and interest until the debt is fully repaid or amortized
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper papersbyjol. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €10,64. Je zit daarna nergens aan vast.
