Borrowers Study guides, Class notes & Summaries
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REAL ESTATE FINANCE PRACTICE EXAM NEW SOLUTION 2023 COMPLETE EXAM UPDATE
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A __________ is a permanent change in one or more of the terms of a borrower's loan. 
Loan Qualification 
Loan Modification 
Loan Approval 
Loan Origination - ANS IS Loan Modification 
What time period must borrowers have in job history with the same employer to qualify? 
2 months 
6 months 
1 year 
2 years - ANS IS 2 years 
Unscrupulous actions carried out by a lender to entice, induce and/or assist a borrower 
in taking a mortgage that carries high fees, a high interest rate, strips the borro...
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Real Estate Finance I-Champions Final Exam 2024
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Real Estate Finance I-Champions Final 
Exam 2024 
The minimum downpayment on a VA loan is: 
(a) 2% of the sales price 
(b) 0% of the sales price 
(c) 3.75% of the sales price 
(d) 1% of the sales price - CORRECT ANSWER-B 
_________ is the process of creating a new mortgage loan. 
(a) Origination 
(b) Funding 
(c) Underwriting 
(d) Servicing 
* - CORRECT ANSWER-A 
A veteran can have more than one VA loan: 
(a) If the prior VA loan was paid in full and the property disposed of 
(b) The prior VA l...
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HECM REVERSE MORTGAGE: A LOAN AGAINST HOME EQUITY PROVIDING CASH AVANCES TO A BORROWER AND REQUIRING NO REPAYMENT UNTIL A FUTURE TIME || very Flawless.
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HOME EQUITY correct answers HOME VALUE MINUS LIENS ON THE HOME 
 
PURPOSE OF A REVERSE MORTGAGE correct answers GENERATE CASH 
 
FORWARD MORTGAGE PURPOSE correct answers THE ORDINARY MORTGAGE MOST PEOPLE USE TO PURCHASE HOME 
 
FORWARD MORTGAGE correct answers BORROWERS EQUITY INCREASES OVER TIME THE LOAN BALANCES DECREASES AS PAYMENTS ARE MADE TO LENDER 
 
REVERSE MORTGAGE correct answers RISING DEBT FALLING EQUITY TRANSACTIONS 
 
HECM BASIC FEATURES correct answers THE BORROWER RETAINS TITLE T...
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CHAMPIONS REAL ESTATE FINANCE GRADED A+ ALREADY PASSED 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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Financial Resource management in healthcare WGU C428. Exam questions and answers, 100% Accurate. VERIFIED 2024
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to operate, any business must have assets; to acquire assets, the business must raise - -capital 
capital comes in two forms - -risk and inflation 
__ and __ are long term debt contracts under which a borrower agrees to make a series of interest and 
principal payments on specific dates to the lender - -term loans and bonds 
a term loan is generally provided by a - -single lender 
bond is typically offered to the - -public and sold to many investors 
bonds issues by the federal government - -tre...
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NSA Notary Signing Agent | 2023 | Questions with 100% Correct Answers | Updated & Verified
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A Notary Signing Agent has been providing signing services with no incidents for over 10 years 
without having undergone a background screening. Therefore he or she: - Must still obtain 
and pass a background screening 
A Notary Signing Agent with nearly 10 years experience has reviewed and is completely familiar 
with all the documents in a loan package. When meeting with the borrower, the Notary Signing 
Agent may now: - Present and state the general purpose of each document and how it must 
b...
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Champions real estate finance Exam Questions with Verified Answers
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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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CMCP CHAPTER 5 EXAM 2024 WITH 100% CORRECT ANSWERS a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at some date in the future, generally with interest - correct answer Credit a system used by l
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CMCP CHAPTER 5 EXAM 2024 WITH 100% CORRECT ANSWERS 
 
 
a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at some date in the future, generally with interest - correct answer Credit 
 
a system used by lenders to gauge the creditworthiness of potential borrowers. The system weighs five characteristics of the borrower and conditions of the loan - correct answer five Cs of credit 
 
What are the five Cs of credit - correct answer character, ...
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45 Hour Post License Florida Exam with veried questions & 100% correct answers latest 2024 update graded A+
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45 Hour Post License Florida Exam with veried questions & 100% correct answers latest 2024 update graded A+ 
The __________ prohibits discrimination based on race in the purchase, sale, or lease of real property. - ANSWER>>>Civil Rights Act of 1866 
Fair housing laws prohibit ______, ________, and _________. - ANSWER>>>Steering or Channeling, Blockbusting, Redlining 
absentee owners - ANSWER>>>owners who buy income property as investments and depend on professionals to...
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ASREB TEST QUESTIONS & ANSWERS SOLVED 100% CORRECT!! A borrower is required to put 10% down
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ASREB TEST QUESTIONS & ANSWERS SOLVED 100% CORRECT!! 
 
A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered... 
Equity 
A broker, acting as a property manager, would be considered what type of agent? 
General 
A contract has been signed, but title has not yet been passed. The contract is... 
Executory 
A house cost $100,000. The buyer is making a down payment of 32,000 and getting a $68,000 loan. If there are 4 points, how much money will be pa...
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