Nonrecourse - Study guides, Class notes & Summaries

Acceleration Clause - 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) - Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC - home valuation code of conduct Due on Demand Clause - (Considered a predatory practice) The lender can demand repayment of the loan in full at anytime for any reason ...

45 hours Post Licensing Chapter 10-13 Corre Forbearance or Moratorium (to avoid foreclosure) - ANSWER waiver of principal payments (interest Only) Deferred interest (Principal only) Restructure the Mortgage loan - ANSWER involves lowering the interest rates, accruals of interest, or extended maturity date. nonrecourse loan - ANSWER borrower is not personal liable for the original loan, the lender could decided to make the borrower personally liable as part of the restructuring agreement...

Acceleration Clause 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) Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC home valuation code of conduct Due on Demand Clause (Considered a predatory practice) The lender can demand repayment of the loan in full at anytime for any reason HOEP...

Answer the following question as it relates to corn pay ments in the 2002 farm bill assuming: the target price is $4.00/bu the marketing loan rate is $2.50/bu the direct payment rate is $0.50/bu market price for com of $3.50/bu If the market price decreases by $1.25/bu to $2.25/bu, what would be the impact on counter-cyclical payments. direct payments, and marketing loan gains/loan deficiency payments? (i.e. CCPs go from xx to xx, etc) correct answers CCPs target $ - DP - higher or other 2...

Forbearance or Moratorium (to avoid foreclosure) correct answers waiver of principal payments (interest Only) Deferred interest (Principal only) Restructure the Mortgage loan correct answers involves lowering the interest rates, accruals of interest, or extended maturity date. nonrecourse loan correct answers borrower is not personal liable for the original loan, the lender could decided to make the borrower personally liable as part of the restructuring agreement. the process of rede...

Acceleration Clause correct answers 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) correct answers Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC correct answers home valuation code of conduct Due on Demand Clause correct answers (Considered a predatory practice) The lender can dema...

restraint on alienation - ANSWER-Mortgage law prohibits enforcement of any trust deed provision which purports to restrict the owner's right to sell, lease or encumber their property, called a: due-on - ANSWER-Garn-St. Germain Federal Depository Institutions Act of 1982 (Garn) provides general guidelines for ____________ enforcement. mortgage-backed bonds - ANSWER-Garn-St. Germain Federal Depository Institutions Act of 1982 (Garn) provides general guidelines for ____________ enforcement. ...

Defect/Cloud in the title - Ans Conflicting claims that prevent the absolute legal conveyance of CLEAR TITLE Period to Period is a type of leasehold that: - Ans Has no specific expiration but the length is specified (like a month to month lease) Net Lease - Ans lease in which the tenant pays some or all of the operating expenses of the property in addition to rent. Often commercial. Adverse Possession - Ans A person takes possession & use of a property belonging to another. Possession m...

Forbearance or Moratorium (to avoid foreclosure) - ANSWER waiver of principal payments (interest Only) Deferred interest (Principal only) Restructure the Mortgage loan - ANSWER involves lowering the interest rates, accruals of interest, or extended maturity date. nonrecourse loan - ANSWER borrower is not personal liable for the original loan, the lender could decided to make the borrower personally liable as part of the restructuring agreement. the process of redesigning a loan - ANSW...

Forbearance or Moratorium (to avoid foreclosure) correct answers waiver of principal payments (interest Only) Deferred interest (Principal only) Restructure the Mortgage loan correct answers involves lowering the interest rates, accruals of interest, or extended maturity date. nonrecourse loan correct answers borrower is not personal liable for the original loan, the lender could decided to make the borrower personally liable as part of the restructuring agreement. the process of redesign...