Escrow funding Study guides, Class notes & Summaries

Real Estate Finance I-CHAMPIONS Exam | 60 Questions and Answers. 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 - Answer- B _________ is the process of creating a new mortgage loan. (a) Origination (b) Funding (c) Underwriting (d) Servicing * - 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 ...

Real Estate Finance I-CHAMPIONS Exam Questions And Answers. 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 B _________ is the process of creating a new mortgage loan. (a) Origination (b) Funding (c) Underwriting (d) Servicing 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 V...

Loan Processing - ANSWER-The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision Underwriting - ANSWER-The process of evaluating a borrower's loan application to determine the risk involved for the lender Funding - ANSWER-The process of transferring funds to a title or escrow company for disbursement

NMLS SAFE EXAM 2024 QUESTIONS AND ANSWERS ALREADY PASSED What does TILA stand for? Truth-In-Lending Act, Regulation Z What is a HELOC loan? a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? LTV stands for Loan to Value Define PMI and state what the acronym stands for. Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? Disabled ...

a running stream is considered - ANSWER-real property water found on the land in watercourses, such as natural springs, streams, or rivers and in bodies of water, such as ponds or lakes is called - ANSWER-surface water What is riparian rights - ANSWER--riparian property owners have reasonable use of the follow water - the owner of property bordering a stream or river has riparian rights -the owner of adjacent land may not lawfully divert all available waterand thereby deprive a riparian ...

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

2 general forms of wcc in the housing system correct answers 1. mortgage frauds -defined as the intentional misstatement of information which is relied on by a lender or underwriter to provide funding to purchase or to insure a mortgage loan 2. rental/landlord fraud -landlord failure to provide rental properties that are safe, inhabitable, and up to code (slumlords) mortgage fraud enforcement: -which unit of the FBI is charged with investigating schemes and frauds perpetrated agains...

Champions Real Estate Finance Exams Questions and Answers 100% Correct Champions Real Estate Finance Exams Questions and Answers 100% Correct Champions Real Estate Finance Exams Questions and Answers 100% Correct Loan Processing -ANSWER- The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision Underwriting -ANSWER- The process of evaluating a borrower's loan application to determine the risk involved for the len...

Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies. a. Loan processing b. funding c. Servicing d. Origination - ANSWER-C. Servicing The process of creating a new mortgage loan. a. Underwriting b. Loan processing c. Origination d. Funding - ANSWER-C. Origination The process of collecting information about a borrower in order to build a loan file, that will be used to make a underwriting decision. ...

Champions Real Estate Finance Exam Questions and Answers 100% Accurate Champions Real Estate Finance Exam Questions and Answers 100% Accurate Champions Real Estate Finance Exam Questions and Answers 100% Accurate Loan Processing -ANSWER- The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision Underwriting -ANSWER- The process of evaluating a borrower's loan application to determine the risk involved for the len...