Correspondent lenders - Study guides, Class notes & Summaries

Champions Real Estate Finance Exam Questions with correct Answers 100% Verified 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 ri...

Servicing - ANSWER-Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies Benefits of home ownership: - ANSWER-Occupancy, Tax Benefits, Pride of Ownership, Security, Investment Character - ANSWER-the willingness of a borrower to make on-time payments Capacity - ANSWER-the measure of the borrowers ability to repay the debt Capital - ANSWER-the sum of all assets that the borrower has accumulated Collateral - ...

mortgage 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 creating a new mortgage loan Underwrit...

Champions real estate finance with Correct Solutions Latest 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...

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...

Champions real estate finance Correctly Answered 2024 mortgage 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 - Answ...

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 monthly payment statements and collecting monthly payments, maintaining payment r...

Underwriting -ANSWER- The process of evaluating a borrower's loan application to determine the risk involved for the lender Funding -ANSWER- The process of transferring funds to a title or escrow company for disbursement Servicing -ANSWER- Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies Benefits of home ownership: -ANSWER- Occupancy, Tax Benefits, Pride of Ownership, Security, Investment Character -ANS...

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...

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 ...