Reverse mortgage defined Study guides, Class notes & Summaries
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![CFA Level 1 - 101 Must Knows 368 Questions with Verified Answers,100% CORRECT](/docpics/2866636/6480c71d49128_2866636_121_171.jpeg)
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CFA Level 1 - 101 Must Knows 368 Questions with Verified Answers,100% CORRECT
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CFA Level 1 - 101 Must Knows 368 Questions with Verified Answers 
 
Addition Rule of Probability - CORRECT ANSWER ADDITION: P(A or B) = P(A) + P(B) - P(AB) 
 
Roy's Safety First Criterion - CORRECT ANSWER Safety First Ratio = (E(R) - Rₜ) / σ 
 
Larger ratio is better 
 
If (Rₜ) is risk free rate, then it becomes Sharpe Ratio 
 
Sharpe Ratio - CORRECT ANSWER Sharpe Ratio = (E(R) - RFR) / σ 
 
Larger ratio is better 
 
If (Rt) is higher than RFR, then it becomes Safety First Ratio 
 
Centra...
![HECM Exam questions and correct answers](/docpics/5331992/6646f04dcf75b_5331992_121_171.jpeg)
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HECM Exam questions and correct answers
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HECM Exam questions and correct answers 
A reverse mortgage is... - ANSWERS a loan against the value of a home that provides 
cash advances to a borrower, requiring no repayment until a future time. 
A reverse mortgage is different from a home equity loan because - ANSWERS You do 
not have to make monthly repayments on a reverse mortgage 
A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, 
sells, or permanently moves away 
The purpose of a reverse mortgage is mo...
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NMLS Exam Questions with Correct Answers.docx
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NMLS Exam Questions with Correct A 
 
Acceleration Clause - Answer-Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) 
Alienation Clause (Due on Sale Clause) - Answer-Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) 
 
Appraiser Independance Requirements replaced HVCC - Answer-home valuation code of conduct 
 
Due on Demand Clause - Answer-(Considered a predatory practice) The lender ...
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Prepxl Practice Test 3: Exam Review Questions and answers/| LATEST UPDATE | EXAM PREDICTION QUESTIONS |
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Prepxl Practice Test 3: Exam Review 
Questions and answers/ 
In January of 2020, Wella and Kip agreed to purchase a home at a purchase price of $546,300. They 
would like to hold onto as much of their savings as they can, but they have chosen to make a down 
payment sufficient enough to qualify for a conforming loan. What is the minimum down payment they 
can make to reach the conforming loan limit but still retain savings? 
- $47,900 
- $35,900 
- $95,800 
- $54,900 - -$35,900. 
The down p...
![45 Hour Post License Real Estate Florida Test Questions With Answers Latest Updated 2024/2025 | 100% Verified.](/docpics/4830434/6602e7b2b69cf_4830434_121_171.jpeg)
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45 Hour Post License Real Estate Florida Test Questions With Answers Latest Updated 2024/2025 | 100% Verified.
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45 Hour Post License Real Estate Florida Test Questions With Answers Latest Updated 2024/2025 | 100% Verified. When consumers, lured by lower prices, venture back into the market, business activity increases 
and confidence begins to return. Slowly, production facilities gear up to meet the new consumer 
demand, capital begins to flow back into business enterprises, and additional employees are 
hired. 
The three types of operating expenses of an income property are 
A) 
fixed, debt service, and...
![NMLS Exam Practice Questions With Answers - Latest Updated 2023-2024](/docpics/3395734/64fac33444a69_3395734_121_171.jpeg)
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NMLS Exam Practice Questions With Answers - Latest Updated 2023-2024
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NMLS Exam Practice Questions With Answers - Latest Updated 2023-2024. Lender has how many days after settlement to refund any portion of charges on the 
HUD-1 that exceeded the acceptable variance - ANSWER 30 days 
TILA disclosure must be given to the applicant within how many days after receiving the 
signed loan application for a reverse mortgage - ANSWER 3 business days 
Truth in lending disclosure must be delivered within how many business days prior to 
closing a reverse mortgage - ANSWER ...
![45 Hour Post License Florida| 160 Questions| Accurate 100%](/docpics/4614182/65de0f75bf04d_4614182_121_171.jpeg)
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45 Hour Post License Florida| 160 Questions| Accurate 100%
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Farming - ANSWER Concentrating on one type of style of property or on one particular neighborhood 
 
A residential transaction os defined in F.S. 475 as the sale of any: - ANSWER - Duplex 
- improved residential property of four units or fewer, including condominium units 
-unimproved property intended for four units or fewer 
- agricultural properties of ten acres or less 
- leases with options to purchase all or a portion of improved property of four or fewer residential units 
- dispositions...
![NMLS Exam Questions With Answers Latest Updated 2023-2024 Graded A+](/docpics/3389301/64f96497ec403_3389301_121_171.jpeg)
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NMLS Exam Questions With Answers Latest Updated 2023-2024 Graded A+
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NMLS Exam Questions With Answers Latest Updated 2023-2024 Graded A+. A lender has how many days to refund excessive variances on a Closing Disclosure? - 
ANSWER 60 days 
Lender has how many days after settlement to refund any portion of charges on the 
HUD-1 that exceeded the acceptable variance - ANSWER 30 days 
TILA disclosure must be given to the applicant within how many days after receiving the 
signed loan application for a reverse mortgage - ANSWER 3 business days 
Truth in lending disclo...
![45 Hour Post License Real Estate Florida Test Questions With Answers Latest Updated 2024/2025 (GRADED)](/docpics/5010704/661d887d63013_5010704_121_171.jpeg)
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45 Hour Post License Real Estate Florida Test Questions With Answers Latest Updated 2024/2025 (GRADED)
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An economic recovery is defined as 
A) 
two successive quarterly declines in the gross domestic product. 
B) 
two successive quarterly increases in the gross domestic product. 
C) 
a period of higher housing prices. 
D) 
two successive periods of stock market gains. correct answers B) 
two successive quarterly increases in the gross domestic product. 
Explanation 
When consumers, lured by lower prices, venture back into the market, business activity increases 
and confidence begins to return. Sl...
![MA Real Estate Exam Study Guide 2024 Questions and Answers](/docpics/4644238/65e2d332a8e43_4644238_121_171.jpeg)
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MA Real Estate Exam Study Guide 2024 Questions and Answers
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MA Real Estate Exam Study Guide 2024 
Questions and Answers 
Appraisal - Answer- An estimation of a property's value, usually prepared by a 
professional who is licensed in this field. 
Brokerage - Answer- The business of bringing people together in a real estate 
transaction. 
Commerical - Answer- The types of properties that include office spaces, shopping 
centers, stores, theaters, hotels, parking facilities, etc. 
Development - Answer- The term for the construction of improvements upon the...
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