Prepayment penalty - Study guides, Class notes & Summaries
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California State NMLS EXAM STUDY QUESTIONS 2024.
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California State NMLS EXAM STUDY QUESTIONS 2024. 
"Federal banking agencies" include: 
Answers 
 
A. The Director of the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, and FDIC 
 
B. Fannie Mae and Freddie Mac 
 
C. The Comptroller of the Currency and the National Credit Union Administration 
 
D. A and C - correct answer D. 
 
A borrower approaches a lender to refinance their existing negative amortization loan, which was originated by that 
same lender....
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NMLS MLO Exam Correct Questions & Answers(Latest Update 2023)
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What must a borrower do to avoid having late payments reported to a credit bureau? - ANSWER Pay within 30 days of due date 
 
Max penalty if a borrower is required to use a specific title company or settlement agent? - ANSWER 3 times the fee 
 
What should not be over-weighted in an analysis of borrower repayment capacity? - ANSWER Credit scores 
 
Max prepayment penalty on residential mortgages in the first year of the loan - ANSWER 3% 
 
What must condominium associations do with respect to pr...
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NMLS SAFE EXAM 2024 Questions With Verified Answers
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NMLS SAFE EXAM 2024 Questions With 
Verified Answers 
What does TILA stand for? - answerTruth-In-Lending Act, Regulation Z 
What is a HELOC loan? - answera secured loan in that you are borrowing against the equity 
that has been built in your house 
What is a REFI loan? - answer 
LTV stands for - answerLoan to Value 
Define PMI and state what the acronym stands for. - answerPrivate mortgage insurance- on 
conventional loans 
Define one time variable funding fee and people in what situations is i...
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Champions Powerhouse Training SAE 146 Questions with Verified Answers,100% CORRECT
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Champions Powerhouse Training SAE 146 Questions with Verified Answers 
 
An area of neighborhoods or sub divisons that 
is serviced by your firm. - CORRECT ANSWER Geographic Farm 
 
A plan by which you develop to gain name 
recognition - CORRECT ANSWER Marketing Plan 
 
Becoming different in your approach through 
growth and development - CORRECT ANSWER differentiate 
 
All the properties in a particular price range, 
in the area your firm services - CORRECT ANSWER economic farm 
 
Words or cont...
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NMLS MLO Exam 218 | with 100% Correct Answers | Updated & Verified
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What must a borrower do to avoid having late payments reported to a credit bureau? - ️️Pay within 30 days of due date 
 
Max penalty if a borrower is required to use a specific title company or settlement agent? - ️️3 times the fee 
 
What should not be over-weighted in an analysis of borrower repayment capacity? - ️️Credit scores 
 
Max prepayment penalty on residential mortgages in the first year of the loan - ️️3% 
 
What must condominium associations do with respect to proper...
Too much month left at the end of the money?
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sales general practice exam – Pearson Questions with 100% Correct Answer
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sales general practice exam – Pearson 
Questions with 100% Correct Answer 
Which of the following clauses in a conventional mortgage instrument entitles the 
lender to accelerate the loan if the loan is assumed? 
Prepayment 
Right-to-sell 
Due-on-sale 
Variable interest rate - Answer- Due-on-sale 
If the value of a property is affected by negative forces outside the property, which are 
beyond the control of the owner, this is referred to as: 
physical deterioration 
accrued depreciation 
func...
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Rockwell Cram Exam #4 Questions and Answers (Graded A)
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Rockwell Cram Exam #4 Questions and Answers (Graded A) Rockwell Cram Exam #4 Questions and Answers (Graded A) Rockwell Cram Exam #4 Questions and Answers (Graded A) Rockwell Cram Exam #4 Questions and Answers (Graded A) Rockwell Cram Exam #4 Questions and Answers (Graded A) 
Tina is representing the buyers in a transaction; she described the property's boundaries to her clients without clarifying that she was not sure that the boundaries were exactly precise. The buyers, upon taking possession...
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sc real estate exam practice questions and answers 100% pass
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sc real estate exam practice questions and 
answers 100% pass 
Darryl owns a property in a critical coastal area in South Carolina. What obligation does 
he have? - Correct Answer ️️ -Darryl must disclose that the property lies in a critical 
area and is subject to limitations. 
South Carolina licensee Joseph tells his client that a property is zoned as residential, 
even though he knows it's zoned as commercial. This violation is an example of 
______. - Correct Answer ️️ -Making a sub...
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REE 4204 exam 4, Real estate finance exam 3, REE 4202- Exam 2 Sirmans, Real estate finance Sirmans Exam 1 - Combined Test With Correct Revised Answers Guaranteed Pass!!
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REE 4204 exam 4, Real estate 
finance exam 3, REE 4202- Exam 2 
Sirmans, Real estate finance 
Sirmans Exam 1 - Combined Test 
With Correct Revised Answers 
Guaranteed Pass!! 
Mortgage Refinancing - ANSWER : ●Replaces an 
existing mortgage with a new mortgage without a property 
transaction. 
●Borrowers will most often refinance when market rates 
are low. 
●The refinancing decision compares the present value of 
the benefits (payment savings) to the present value of the 
costs (p...
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Mortgage Backed Securities Final Exam 2023 with complete solution
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Mortgage Backed Securities Final Exam 2023 with complete solution 
 
Why is prepayment less of an issue with commercial loans than it is with home mortgage loans? 
 
Explain Yield Maintenance & Defeasance prepayment restrictions. 
1) Commercial loans have strong call protections and penalties to the borrow if they prepay the loan. Home loans do not have prepayment penalties. 
 
Yield Maintenance Penalty - Present Value of lost payments will be paid to the lender to maintain their expected yield ...
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