A lender m - Study guides, Class notes & Summaries

M-100 THE ESSENTIALS OF COMMUNITY ASSOCIATION MANAGEMENT WITH COMPLETE SOLUTIONS 100% Characteristics of a Community Association Mandatory membership Mutually binding documents Lien-based assessments Purposes of a Community Association Business - Not for profit Government - Runs like a mini-government Community - Mutual reasons for buying into area 3 Basic Types of Community Associations Planned Community - Owners owns his lot/living unit and community owns common areas (tennis...

Loan Processing - ANSWERSThe process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision. Underwriting - ANSWERSThe process of evaluating a borrower's loan application to determine the risk involved for the lender. Funding - ANSWERSThe process of transferring funds to a title or escrow company for disbursement. Servicing - ANSWERSSending monthly payment statements and collecting monthly payments, maintaining paymen...

Xinnix SOAR Final Exam Questions and Answers 100% Pass FNMA and FHLMC are what type of loan? - Answer- conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - Answer- true conventional loans are not insured by the federal government - Answer- true Agency loans include FHA and VA loans - Answer- true the proceeds of a loan for cash out refinance may be used by the borrower to in...

Texas Salesperson Real Estate Exam (National) Latest 2023 Graded A Real Property Land and Improvements and the Right to Use Them Fixture Personal property that has been attached. "Installed" or "Annexation" Trade Fixtures Required to run a business. They may be removed from the property prior to the termination of the lease. (Doctors, Dentists, Chef, Barber) Non-homogeneity Land: No two pieces are exactly alike. Immobility Land: Cannot be moved Indestructibility Land: "Durability" - i...

State Examination for Hawaii real estate complete solutions At what point do obligations under the Landlord/Tenant Code End: A) The tenant vacates B) The tenant and Landlord resolve disbursement of the security deposit C) The tenant stops paying rent D) The landlord quits ️A) The tenant vacates What minimum % of condominium owners must vote to change the By-Laws: A) 50% B) 51% C) 65% D) 67% ️D) 67% An owner has a mortgage for $50,000 at 9% for 30 years with monthly paym...

Supervised Administration - correct answer -in a testate or intestate, the appointed personal representative must get court approval prior to disposing or conveying the estates property. Warranty Deed - correct answer -A deed used to convey real property which contains warranties of title and quiet possessions and grantor thus agrees to defend the premises against lawful claims of Special Warranty Deed - correct answer -A deed containing a covenant whereby the seller agrees to protect the ...

M-100 Focus : LEGAL BASIS Exam Questions With 100% Correct Answers Define a community association and its 3 characteristics - answerA community association is a legal entity in which the owners enjoy the protection, enhancement, maintenance and preservation of their homes and property. - Membership is mandatory - Governing documents bind the owner and the association to each other through mandated actions - Mandatory lien-based assessments (maintenance fees) are levied on each owner in o...

M-100 The Essentials of Community Association Management (Cert Exam) Latest Characteristics of a Community Association - CORRECT ANSWER-Mandatory membership Mutually binding documents Lien-based assessments Purposes of a Community Association - CORRECT ANSWER-Business - Not for profit Government - Runs like a mini-government Community - Mutual reasons for buying into area 3 Basic Types of Community Associations - CORRECT ANSWER-Planned Community - Owners owns his lot/living unit an...

M-100 The Essentials of Community Association Management Exam Questions And Answers (Verified And Updated) Characteristics of a Community Association - answerMandatory membership Mutually binding documents Lien-based assessments Purposes of a Community Association - answerBusiness - Not for profit Government - Runs like a mini-government Community - Mutual reasons for buying into area 3 Basic Types of Community Associations - answerPlanned Community - Owners owns his lot/living unit an...

Mortgage Agent Final Exam Sample Questions With Correct Answers (100% Correct 2023/2024). Home Buyer's Program (HBP) - ANSWER The Canada Revenue Agency (CRA) has a program entitled the Home Buyer's Program (HBP) that allows a first time buyer to use up to $25,000 of their RRSPs as a down payment without paying tax on the withdrawal. The amount removed must be repaid within 15 years. CRA defines a first time buyer as an individual or the individual's spouse, or common-law partner who has ...