Makes up 15 of fico score Study guides, Class notes & Summaries

UGBA 135 Final Exam 2023 Questions and Answers 100% Verified;These are acual quiz What is the biggest problem facing us in the future? - Longevity, not retirement Where is the burden of saving and investing for retirement and health care shifting? - From employer to employee What percentage of households have income of more than $113,000? - 10% What percentage of households earn $160,000? - 5% What is a common trait of millionaires? - The ability to communicate and sell their ideas ...

What is the biggest problem facing us in the future? - Answer- Longevity, not retirement Where is the burden of saving and investing for retirement and health care shifting? - Answer- From employer to employee What percentage of households have income of more than $113,000? - Answer- 10% What percentage of households earn $160,000? - Answer- 5% What is a common trait of millionaires? - Answer- The ability to communicate and sell their ideas Where can the lender not take out money ...

Credit Report a compilation of data about you that has been gathered by credit reporting agencies or "credit bureaus" Length of Credit History Makes up 15% of FICO score Type __ of credit use makes up 10% of FICO score New Credit or Inquiries Makes up 10% of FICO score Amounts Owed Makes up 30% of FICO score Payment History Makes up 35% of FICO score Fair Credit Reporting Act (FCRA) act that protects privacy of background information and ensures...

997 NMLS Questions with Answers The practice of getting people to sell their homes at bargain prices by suggesting that certain ethnic groups are going to move into the area is nicknamed: -Price fixing -Redlining -Steering -Blockbusting>>>> Blockbusting You and the borrower believe an Adjustable Rate Mortgage would be best for the borrower. What is the name of the booklet you are required to give? -CHARM Booklet -ARM Disclosure -Fair Lending Practices Booklet -RESPA Bo...

Civil Rights Act of 1866 - ANSWER-Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - ANSWER-banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 - ANSWER-added gender (sex) to the protected classes Fair Housing Amendments Act of 1988 - ANSWER-Added Disability and familial status to protected classes. Real Estate Settlement a...

Rental Obstacle + Solutions: Low Income - ANSWER--Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - ANSWER-Prioritize "needs over "wants" -reduce or eliminate "wants" -cancel or downgrade services(e.g. cable, telephone) -limit miscellaneous spending - stick to a shopping list - pay off a loan or credi...

HUD Housing Counseling Exam, question and answer, graded A+ Civil Rights Act of 1866 Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 added gender (sex) to the protected classes Fair Housing Amendments Act of 1988 Added Disability and familial status to prote...

Abstract of title (Title Report) - ANSWER-A written history of all the transactions related to the title for a specific tract of land. This will include a history of all liens, judgements, easements and covenants on the property Abusive - ANSWER-Under the Dodd-Frank Act, this is act of a Loan Originator taking advantage of the borrower's lack of knowledge in the mortgage process. Accrued Interest - ANSWER-This is the interest that is charged over the course of the payment period. Addit...