Wraparound mortgage Study guides, Class notes & Summaries

The final decision on the listing price for a property is made by the a) listing broker b) sponsoring broker c) seller d) appraiser - c) seller A rectangular parcel of land is 260 feet deep and 50 yards wide. How many square feet does it contain? a) 13,000 sq. ft. b) 36,400 sq. ft. c) 39,000 sq. ft. d) 52,000 sq. ft. - c) 39,000 sq. ft. A fee simple holder of a parcel of real estate grants a life estate to his son and stipulates that upon the son's death the property will pass to ...

When a deed in lieu of foreclosure is given to a lender, which of the following is true? - correct answer Time and cost are less B buys land from W using a deed of trust as security for the carryback. B makes all the payments except the final three and is now in default. W does nothing and decides not to foreclose until later. By doing this W is exercising his right of: - correct answer Forbearance A commercial building is sold in a foreclosure for $100,000 less than the balance due th...

Champions Real Estate Finance Exam 2024 || Questions & Answers (Graded A+) Champions Real Estate Finance Exam 2024 || Questions & Answers (Graded A+) Loan-to-Value Ratio (LTV) - 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 - ANSWER - Includes both real and persona...

Loan-to-Value Ratio (LTV) - correct answerThe 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 answerIncludes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answerCovers more than one piece of property. Wraparound Mortgage - corr...

Real Estate Finance AYPO Exam 2024 Real estate has been estimated to represent approximately -Answer-one-half of the world's total economic wealth. The buyer's ability to finance the property is an important, if not the -------, contingency in most residential transactions, and a significant driver in the entire real estate-based economy. -Answer-primary Texas is a: a. Lien Theory b. Title Theory -Answer-a. Lien Theory Lien Theory -Answer-In lien theory states such as Texas, the secur...

Real estate has been estimated to represent approximately - ANSWER-one-half of the world's total economic wealth. The buyer's ability to finance the property is an important, if not the -------, contingency in most residential transactions, and a significant driver in the entire real estate-based economy. - ANSWER-primary Texas is a: a. Lien Theory b. Title Theory - ANSWER-a. Lien Theory Lien Theory - ANSWER-In lien theory states such as Texas, the security for a mortgage is a lie...

Loan-to-Value Ratio (LTV) - 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 - Answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - Answer Covers more than one piece of property. Wraparound Mortgage - Answer Method of ...

Champions Real Estate Finance 2 Versions Exam With Perfect Questions And Answers The consummation of a real estate transaction in which all appropriate documents are signed and the proceeds of the mortgage loan are then disbursed by the lender. - Closing Includes collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance ( and managing escrow and impound funds) remitting funds to the note holder, and following up on delinquencie...

Abstract of Title A summary and certification by the abstractor of the history of the title to property form the original grant through all subsequent conveyances. Acceleration Clause The clause in a mortgage or deed o trust that can be enforced making the entire debt due immediately upon default of the borrower. Acceptance The expression of the intention of the person receiving an offer (offeree, usually the seller) to be bound by the terms of the offer. Accession Obtai...

Champions Real Estate Finance Questions and Answers Loan-to-Value Ratio (LTV). Package Mortgage Blanket Mortgage. Wraparound Mortgage. Open-End Mortgage. Budget Mortgage Collateral -Dependent Loans Character. Capacity. Capital. Collateral Yield Originator. Mortgage Broker) Mortgage Banker Correspondent Lender. Processing. Underwriting. Closing Servicing. Supply and Demand Funding The Safe Act M1. M2 Fiat Money Monetary Policy ...