Correspondent lender Study guides, Class notes & Summaries
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Champions Real Estate Finance (Questions And Answers) 2024
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Champions Real Estate Finance 
(Questions And Answers) 2024 
mortgage Broker - CORRECT ANSWER-Functions as a middleman between the 
borrower and the lender, negotiating, selling or arranging loans to be delivered to large 
investors 
Mortgage Banker - CORRECT ANSWER-Provide their own funds for the purpose of 
providing mortgage financing 
Correspondent Lender - CORRECT ANSWER-Smaller in scale then mortgage bankers 
or brokers, these lenders typically extended loans with their own funds at th...
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XINNIX Ground School Final (Questions & Answers) Rated 100%
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If the term of an ARM is 5 years or less, the qualifying rate is the Start Rate + 2% or the fully-indexed 
rate, whichever is greater - TRUE 
A program description contains the summary of eligibility requirements for a loan to be sold to a specific 
lender/investor - TRUE 
HOA dues are included in the PITI calculation. - FALSE 
The Correspondent lender is the "end" lender in a mortgage banker's transaction - TRUE 
What is their new loan amount and proposed monthly PITI based on 30-year fixed-...
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Champions Real Estate Finance EXAM 2024 Questions and Answers 100% accurate!
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Champions Real Estate Finance EXAM 2024 Questions and Answers 100% accurate!Loan Processing - ANSWERSThe process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision 
 
Underwriting - ANSWERSThe process of evaluating a borrower's loan application to determine the risk involved for the lender 
 
Funding - ANSWERSThe process of transferring funds to a title or escrow company for disbursement 
 
Servicing - ANSWERSSending month...
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Champions Real Estate Finance Q&A TEST
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Champions Real Estate 
Finance Q&A TEST 
Loan-to-Value Ratio (LTV) - ANSWER The percentage of the lesser of the appraised 
value or sales price that the lender will lend. 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 
80% of the sales price or appraised value, whichever is lower. 
Package Mortgage - ANSWER Includes both real and personal property ( fixtures and 
furnishings) 
Blanket Mortgage - ANSWER Covers more than one piece of property. 
Wraparo...
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Champions Real Estate Finance Review Exam 2024.
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Champions Real Estate Finance Review Exam age Broker - ANSWER Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors 
 
Mortgage Banker - ANSWER Provide their own funds for the purpose of providing mortgage financing 
 
Correspondent Lender - ANSWER Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk 
 
Origination - ANSWER The process of ...
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finance champions exam questions & answers 100% Accurate
- Exam (elaborations) • 11 pages • 2024
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ORIGINATION - ANSWER-THE PROCESS OF CREATING A NEW LOAN, INCLUDING ALL STEPS TAKEN BY THE LENDER TO ATTRACT AND QUALIFY A BORROWER. 
 
MORTGAGE BROKERS - ANSWER-HE MIDDLEMAN, BRINGING THE LENDER AND THE BORROWER TOGETHER IN A LOAN PROGRAM THAT MEETS THE BORROWER'S NEEDS 
 
MORTGAGE BANKERS - ANSWER-USE THEIR OWN FUNDS TO PROVIDE THE FINANCING FOR THE BORROWER. THEY TAKE THE APPLICATION, ORIGINATE, PROCESS, UNDERWRITE, CLOSE AND FUND THE LOAN. A CORRESPONDENT LENDER OPERATES SIMILARLY TO A MORTG...
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Champions real estate finance Exam Questions with Verified Answers
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mortgage Broker - correct answer-Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors 
 
Mortgage Banker - correct answer-Provide their own funds for the purpose of providing mortgage financing 
 
Correspondent Lender - correct answer-Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk 
 
Origination - correct answer-The process of creat...
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Champions Real Estate Finance Exam 2023-2024
- Exam (elaborations) • 21 pages • 2024
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Loan-to-Value Ratio (LTV) - ANSWER The percentage of the lesser of the appraised 
value or sales price that the lender will lend. 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 
80% of the sales price or appraised value, whichever is lower. 
Package Mortgage - ANSWER Includes both real and personal property ( fixtures and 
furnishings) 
Blanket Mortgage - ANSWER Covers more than one piece of property. 
Wraparound Mortgage - ANSWER Method of financing whi...
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Champions real estate finance Exam 2024 Questions and Answers 1oo% Correct!
- Exam (elaborations) • 8 pages • 2024
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Champions real estate finance Exam 2024 Questions and Answers 1oo% Correct!mortgage Broker - ANSWERFunctions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors 
 
Mortgage Banker - ANSWERProvide their own funds for the purpose of providing mortgage financing 
 
Correspondent Lender - ANSWERSmaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk 
 
O...
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Champions Real Estate Finance Final Exam With Correct Answers 2024
- Exam (elaborations) • 12 pages • 2024
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Champions Real Estate Finance Final 
Exam With Correct Answers 2024 
Loan-to-Value Ratio (LTV) -CORRECT ANSWER-The percentage of the lesser of the 
appraised value or sales price that the lender will lend. 
ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 
80% of the sales price or appraised value, whichever is lower. 
Package Mortgage -CORRECT ANSWER-Includes both real and personal property ( 
fixtures and furnishings) 
Blanket Mortgage -CORRECT ANSWER...
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