Conventional mortgages - Study guides, Class notes & Summaries

Gold Coast Chapter 13: Although there are a number of different methods for repaying a loan, there are only 3 types of mortgages: - correct answer FHA insured; VA guaranteed; And conventional. FHA insured mortgage loans: - correct answer The Federal Housing Administration (FHA) is a part of the U.S Department of Housing and Urban Development (HUD). ***The FHA DOES NOT make loans. Instead, it insures loans made by approved local lenders. The loan is funded by a lending institution, su...

Texas Principles of Real Estate 2 (2023/ 2024) Exam | Guide with Verified Answers| 100% QUESTION Loan Origination Fee? Answer: The financing charge that a lender requires. QUESTION VA Loan? Correct Answer: A loan made to qualified veterans for the purchase of real property wherein the Department of Veteran's Affairs guarantees the lender payment of the mortgage. Guarenteed Loan. QUESTION FHA Loans? Answer: Insured. 203b, 203h, Rehab loa...

Which of the following best defines negative amortization: A. It is the same as interest only, with no interest being paid. B. Not only is no principal being paid, but not all of the interest due is being paid, hence the loan balance is growing due to this deferred interest. C. It is the same as a partially amortized loan, with the principal reducing very slowly. D. The principal is reducing so slowly it is a negative factor in the lives of the borrowers. - correct answer ...

Xinnix SOAR Final questions and answers latest top score. FNMA and FHLMC are what type of loan? - correct rming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - correct conventional loans are not insured by the federal government - correct Agency loans include FHA and VA loans - correct the proceeds of a loan for cash out refinance may be used by the borrower ...

Real Estate Finance Champion School Exam || Questions & Answers (Graded A+) Real Estate Finance Champion School Exam || Questions & Answers (Graded A+) 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 fun...

REE 4204 TEST QUESTIONS WITH CERTIFIED ANSWERS – UPDATED Secondary Mortgage Market - Answer--A market for the purchase and sale of existing mortgages, - solved the miss-match problem where institutions were borrowing on a very short-term basis and lending on a long-term basis - Agencies and firms that purchase mortgages in the secondary market often raise funds by issuing bonds or other debt instruments, pledging the mortgages as collateral (mortgage-backed securities) so fan & fred b...

Back-end ratio - ANSWER The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly income equals 24%. Calculation: Deb...

Xinnix SOAR Final questions and answers 100% verified. FNMA and FHLMC are what type of loan? - correct rming the main purpose of the Consumer financial protection bureau (CFPB) is to help consumers understand the terms of their agreements with financial companies - correct conventional loans are not insured by the federal government - correct Agency loans include FHA and VA loans - correct the proceeds of a loan for cash out refinance may be used by the borrower...

RMLO - Champions School of Real Estate Questions and Correct Answers 2024 A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. - Answer -secondary market The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. - Answer -Federal Housing Finance Agency (FHFA) The ____ guarantee allows mortgage lenders to obtain a better price for their loan...

Back-end ratio Correct Answer The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly income equals 24%. Calculation...