Federal home loan bank - Study guides, Class notes & Summaries

According to the FCRA, when must a credit agency give a consumer a free copy of his credit report? A.)If the loan application is denied because of information in the report B.) Whenever he request it A.)If the loan application is denied because of information in the report A Consumer comes into your office to apply for a loan. The Home Mortgage Disclosure Act requires you to collect information about her race. If she does not wish to provide information for that section of the application, ...

WASHINGTON STATE REAL ESTATE BROKER EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ -All of these - -A construction loan is a: -Short-term loan for financing the cost of construction -Loan in which the lender makes periodic payments -Loan in which payments are issued as the building progresses -All of these -Mortgage Insurance -Hazard insurance -Real estate taxes - -Escrow disbursements can pay for: -Similar properties currently on the market -Similar properties that have been on t...

Texas Principles of Real Estate 2 (2023/ 2024) Exam | Guide with Verified Answers| 100% QUESTION Loan Origination Fee? Answer: The financing charge that a lender requires. QUESTION VA Loan? Correct Answer: A loan made to qualified veterans for the purchase of real property wherein the Department of Veteran's Affairs guarantees the lender payment of the mortgage. Guarenteed Loan. QUESTION FHA Loans? Answer: Insured. 203b, 203h, Rehab loa...

NMLS S.A.F.E Exam Practice Questions and Answers Fully solved 2024 Enhancing protection and reducing fraud by directing states to adopt minimum uniform standards for the licensing and registration of residential mortgage loan originators was the purpose of the federal act known as the: a. S.A.F.E. Act b. Federal Trade Act c. Consumer Financial Protection Act d. Dodd-Frank Act a. S.A.F.E. Act Loan processors and underwriters may not: a. Communicate with consumers to obtain infor...

Depository Institution - ANSWERAny bank or savings association covered by the Federal Deposit Insurance Act. Bank--someone who has credit cards Immediate Family Member - ANSWERThis includes parent, child, spouse, sibling, grandparent, grandchild, adoptive relationships, stepchild and stepparent. No aunts, uncles and cousins. Mortgage Loan Originator - ANSWERAn individual who helps a consumer obtain or apply for a residential mortgage loan. By definition, the mortgage loan originator expect...

conventional loans not apart of government financing programs government financing programs encourage home ownership by making loans affordable. Allow borrowers to use more leverage than a bank would normally allow loan to value ratio banks typically prefer 80% Federal Housing Administration Master01 | November, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ -insures lenders to make loans with more than 80% LTV (usually up to 96.5%) -puts in limitati...

According to the FCRA, when must a credit agency give a consumer a free copy of his credit report? A.)If the loan application is denied because of information in the report B.) Whenever he request it - A.)If the loan application is denied because of information in the report A Consumer comes into your office to apply for a loan. The Home Mortgage Disclosure Act requires you to collect information about her race. If she does not wish to provide information for that section of the applicatio...

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...

NMLS QUESTIONS WITH SOLUTIONS, GRADED A+ Acceleration Clause Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:03 / 0:15 Full screen Appraiser Independance Requirements replace...

What is the Great Recession? correct answers greatest economical crash since great depression() from housing market banks collapsed, auto industry bankrupt, stock market lost 33.8 percent of value, unemployment around 10%, 2.6 mill lost jobs, 4 mill homes foreclosed, 49 mill people food insecure, what are some factors that caused the Great Recession? correct answers financial crash in 2008, elite deviance, people assumed housing prices always go up What is a flipper? correct answers ...