Escrow funding Study guides, Class notes & Summaries

Wrongful or criminal deception intended to result in financial or personal gain is called: - Answer- fraud The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - Answer- 90 days __________ extend above the surface without limitation. - Answer- air rights An example(s) of an appurtenance would be: - Answer- easements There is no upper limit on the value of a Texas homestead. - Answer- true A(n) __________ is one that combines some of ...

Champions - Real Estate Finance Exam (2024) || Questions & Answers (Graded A+) Champions - Real Estate Finance Exam (2024) || Questions & Answers (Graded A+) Loan Processing - ANSWER - The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision. Underwriting - ANSWER - The process of evaluating a borrower's loan application to determine the risk involved for the lender. Funding - ANSWER - The process of transf...

Real Estate Finance champion school test Questions and Correct Solutions 2024 Loan processing - Answer -The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision Underwriting - Answer -The process of evaluating a borrowers 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 mon...

Real Estate Finance I – CHAMPIONS Exam 1 (2024) || Questions & Answers (Graded A+) Real Estate Finance I – CHAMPIONS Exam 1 (2024) || Questions & Answers (Graded A+) The minimum downpayment on a VA loan is: (a) 2% of the sales price (b) 0% of the sales price (c) 3.75% of the sales price (d) 1% of the sales price - ANSWER - B _________ is the process of creating a new mortgage loan. (a) Origination (b) Funding (c) Underwriting (d) Servicing * - ANSWER...

The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decisions. - ANSWER-loan processing The process of evaluating a borrower's loan application to determine the risk involved for the lender. - ANSWER-underwriting The process of transferring funds to a title or escrow company for disbursement. - ANSWER-funding Sending monthly payment statements and collecting monthly payments, maintaining payment records a...

Real Estate Finance Champion School Exam || Questions & Answers (Graded A+) Real Estate Finance Champion School Exam || Questions & Answers (Graded A+) Loan processing - ANSWER - The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision Underwriting - ANSWER - The process of evaluating a borrowers loan application to determine the risk involved for the lender Funding - ANSWER - The process of transferring fun...

Congress created the Federal Housing Administration in ___________. a. 1949 b. 1939 c. 1984 d. 1934 - ANSWER-(d) 1934 In order to qualify for exemption from capital gains, the property must have been the primary residence for two of the previous _____ years. a. 6 b. 3 c. 5 d. 4 - ANSWER-c. 5 A loan with no discount points is known as a(n) ________. a. Birdie loan b. Par loan c. Interim loan d. Air loan - ANSWER-b. Par loan Funding includes which of the following activi...

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 ...

Champions Real Estate Finance 2 Versions Exam With Perfect Questions And Answers The consummation of a real estate transaction in which all appropriate documents are signed and the proceeds of the mortgage loan are then disbursed by the lender. - Closing Includes collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance ( and managing escrow and impound funds) remitting funds to the note holder, and following up on delinquencie...

Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies. : Servicing The process of creating a new mortgage loan : Origination The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision : Loan Processing The process of transferring funds to a title or escrow company for disbursement : Funding The process of evaluating a borrower's loa...