Mortgage bankers - Study guides, Class notes & Summaries

Principles of Real Estate 1- Champions School of Real Estate Questions and Answers Already Passed a freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of A.) scarcity B.) Fixity C.) Situs D.) Modification D.) Modification The supply of Real Estate is affected by A.) Land cost B.) Building codes C.) Government regulations D.) All of these D.) All o...

Xinnix SOAR Final Questions With Verified Answers Graded A+ FNMA and FHLMC are what type of loan? conforming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies true conventional loans are not insured by the federal government true Agency loans include FHA and VA loans true the proceeds of a loan for cash out refinance may be used by the borrower to insure a new pool t...

This form of occupancy would have the lowest interest based on risk - owner-occupied This form of occupancy would have the highest interest based on risk - non-owner occupied Characterized by ownership extending only to the interior dwelling and the shared ownership of common external areas by residents - Condominium Conforming mortgage limit for a single-family residence in most states is: - $484,350 The following entities buy or guarantee loans secured by real estate on the secondary mark...

Champions Real Estate Finance Exam 2024 Questions and Answers (Graded A) Champions Real Estate Finance Exam 2024 Questions and Answers (Graded A) Champions Real Estate Finance Exam 2024 Questions and Answers (Graded A) Federal National Mortgage Association (FNMA) known as, Fannie Mae - ANSWER-began in 1938 as an agency of the federal government In 1968, Fannie Mae became a privately owned and managed corporation Fannie Mae operates exclusively in the secondary market and pro...

Recourses of foreclosure - borrower can come back through - equity of redemption -statutory The possibility that the actual outcome will vary from what was expected when the asset was purchased. - Risk fixed amount of money paid or received at the end of every period - Ordinary annuity future cash inflow or outflow occurring only once - lump sum payment What are the four time Value of money operations - Compounding Operations 1. Future value of a lump sum 2. Future value of an annuity ...

Xinnix Ground School Exam Questions With Answers first-time homebuyer Someone who has never owned a home Move-up homebuyer Currently owns, or has previously owned a home and is looking to move up in price, location, size, etc. Relocation Homebuyer Purchasing a new home in a different city or state due to job transfer or personal desire Affluent homebuyer Well seasoned in home buying process. Knowledgeable, financially savvy, busy. Empty-nester homebuyer Experienced home...

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. - Answer-Loan-to-Value Ratio (LTV) Includes both real and personal property ( fixtures and furnishings) - Answer-Package Mortgage Covers more than one piece of property. - Answer-Blanket Mortgage Method of financing which preserves the low, existing ...

Mortgage bankers are highly leveraged - Very sensitive to disruptions in the loan making and selling pipeline and can fail in days Alt-A loans - Conventional loans with less stringent underwriting requirements higher LVT lower credit scores reduced documentation of income or assets Somewhere in between conventional and subprime in terms of quality. Commercial banks - Depository lenders that typically made business-related real estate loans and only home loans for business clients. They ...

SAFE Exam Test With 100% Correct And Verified Answers Title X - Correct Answer-Created the CFPB IN 2011 A part of the Dodd Frank Act Dodd-Frank Wall Street Reform Act - Correct Answer-July 2010 Created to promote financial stability Created two titles- Title X and Title XIV CFPB - Correct Answer-Consumer financial protection bureau Created by Title X, under the Dodd Frank act Government entity that regulates laws and regulations 2010 Protects consumers from abusive practices ...

The amount the borrower makes prior to any deductions for taxes or insurance is: A) Guaranteed income B) Net income C) Gross income D) Gross margin - Gross income _______: In the Texas Constitution, a principle residence of a family or adult single person is protected from forced sale for all debt except: property taxes; federal tax liens of both spouses; a home equity lien.....etc... - Homestead ______ ______ ____: lenders use what is called a front-end ratio, which is reflected as a pe...