Recourse debt - Study guides, Class notes & Summaries

HECM Exam questions and correct answers A reverse mortgage is... - ANSWERS a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future time. A reverse mortgage is different from a home equity loan because - ANSWERS You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is mo...

NMLS Practice Test Questions and Answers latest updated 2024 1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days •90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance cost of fund index Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:07 / 0:15 Full screen 3) Subordinate financing relates to ...

HECM Exam questions and correct answers A reverse mortgage is... - ANSWERS a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future time. A reverse mortgage is different from a home equity loan because - ANSWERS You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is mo...

Loan Security Learning Objectives - 01. Compare different types of security and assets used as security 02. Determine the security value of different assets based on MAST principles 03. Discuss the role of legal counsel and the importance of legal representation Security is a form of - insurance that is provided by the borrower. • No loan should be granted if the lender expects security will have to be enforced or realized. • Security is taken as a final safeguard in case of default. ...

IRS forms - correct answer-1040 Individuals 1065 partnerships Schedule A itemized deductions Schedule K-1 partnership distributions AGI - correct answer-Wages, salaries + ordinary dividends + rental real estate income= total income - Qualified plan/IRA contribution= AGI AGI Self Employed - correct answer-LLC Income + other income = total income -(SUBTRACT) HSA, half self-employment tax paid, SEP contribution, self-employed health insurance deduction = AGI Above the line deductio...

HCAD final Questions with Accurate Answers 2024 Many facilites employ or contract with ________________________ to perform accounting/financial analysis large corporations What has led to increased healthcare costs? -"Defensive medicine" -uninsured -prescriptions -living longer -more care -lifestyle choices -technology advances -chronic disease What has led to decreased healthcare costs? -preventative care -technology (limiting error) -education -improved management...

RSK 4802 EXAM PACK 2022 JANUARY /FEBRUARY 2016 QUESTION1.1 ai) Risk management is an important process because it empowers a business with the necessary tools so that it can adequately identify and deal with potential risks. Once a risk has been identified, it is then easy to mitigate it. In addition, risk management provides a business with a basis upon which it can undertake sound decision-making. -For a business, assessment and management of risks is the best way to prepare for even...

NMLS Practice Test 100% Correct Solved 1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days - Correct Answer️️ -•90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance - Correct Answer️️ -cost of fund index 3) Subordinate financing relates to •seller financing. •second mortgages. •financing in the secondary mortgage market. •subprime loans. - Correc...

NATIONAL REAL ESTATE EXAM PRACTICE TEST 100% SOLVED 2024 In most cases, broker compensation, as a percentage of home price, falls somewhere between: - Answer- 5-7% A Christian organization owns a fourplex. It wants to rent to only Christian tenants. Under the federal Fair Housing Act, is this legal? - Answer- Yes. Religious organizations which rent to tenants for residential purposes are exempt from the Fair Housing Act What happens to trade fixtures after a business moves out of a leased...

When buying receivables without recourse the purchaser assumes the risk of collectibility and absorbs any credit loss. In the gross method, sales discounts are reported as a deduction from sales For receivables sold with recourse the seller guarantees payment to the purchaser if they debtor fails to pay. The net amount reported for short-term receivables is not affected when a specific account receivable is determined to be uncollectible. bank balance vs cash account bank balance- deposits i...