Alta loan policy Study guides, Class notes & Summaries

Modern Real Estate Practice in Illinois Already Graded A+ abstract of title the condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete and accurate. acceleration clause the clause in a mortgage or deed of trust that can be enforced to make the entire debt due immediately if the borrower defau...

NMLS Exam Practice Questions With Answers - Latest Updated 2023-2024. Lender has how many days after settlement to refund any portion of charges on the HUD-1 that exceeded the acceptable variance - ANSWER 30 days TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage - ANSWER 3 business days Truth in lending disclosure must be delivered within how many business days prior to closing a reverse mortgage - ANSWER ...

California Real Estate Exam 2023 Question Bank, Over 700 Questions And Answers Broker A receives two offers on Seller B's house, which is listed for sale at $250,000. The first offer is for all cash at $200,000. The second offer is for 20% down with 80% financing for the full price. What should the broker do with respect to both offers? Present both offers to the seller as soon as possible. The two primary documents dealing with payment of a loan are the mortgage or deed of trust and a pr...

ASREB Exam Questions With Complete Solutions. Salesperson is working for a principal, but the salesperson exceeds authority in agreement. Principal does nothing to correct the actions, and the public is led to believe the actions were okay. Agency? Estoppel Amount stated in a purchase contract in case the buyer breaches is called: Liquidated In a sublease with a positive leasehold who benefits from excess rent? Sub-lessor Property taxes are 1,525. 1st half paid by seller closes November...

Ad Valorem Tax -:- A tax levied according to the value of the property Alta or Lender's Policy -:- The lender's title insurance policy which offers coverage in the amount of the loan which includes a site visit to discover unrecorded encumbrances Assessed Value -:- A percentage of the appraised value, as determined by law, upon which the tax rate will be levied to determine the property tax. Attorney's Opinion -:- A lawyer's examination and evaluation of the history of title...

Abstract of Title - Answer The condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property - certification by the abstractor that the history is complete and accurate. 213 Acceleration Clause - Answer Clause in a mortgage or deed of trust that can be enforced to make the entire debt due immediately if the borrower defaults on payment or covenant. Accession - Answer A...

Ad Valorem Tax correct answers A tax levied according to the value of the property Alta or Lender's Policy correct answers The lender's title insurance policy which offers coverage in the amount of the loan which includes a site visit to discover unrecorded encumbrances Assessed Value correct answers A percentage of the appraised value, as determined by law, upon which the tax rate will be levied to determine the property tax. Attorney's Opinion correct answers A lawyer's examinatio...

Federal and State Exam Terms for Idaho Real Estate Questions and Answers The condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property - certification by the abstractor that the history is complete and accurate. 213 - Answer️️ -Abstract of Title Clause in a mortgage or deed of trust that can be enforced to make the entire debt due immediately if the borrower d...

California Real Estate Exam 2023 Question Bank, Over 700 Questions And Answers Broker A receives two offers on Seller B's house, which is listed for sale at $250,000. The first offer is for all cash at $200,000. The second offer is for 20% down with 80% financing for the full price. What should the broker do with respect to both offers? Present both offers to the seller as soon as possible. The two primary documents dealing with payment of a loan are the mortgage or deed of trust and a pr...

Abandonment - Answers The failure to occupy and use property that may result in loss of rights Abatement of Nuisance - Answers Extinction or termination of a nuisance Abstract of Judgement - Answers A condensation of the essential provisions of a court judgement Abstract of Title - Answers A summary or digest of all transfers, conveyances, legal proceedings, and any other facts relied on as evidence of title, showing continuity of ownership, together with any other elements of record wh...