Loan origination exam 1 - Study guides, Class notes & Summaries

Superior School of Real Estate Final Exam Questions and Answers 100% Pass Which of the following would create legally binding acceptance of a written offer? The seller's agent emails the buyer's agent that the seller signed the offer as written. A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet. A comparable property has 2750 square feet. The estimated value of 450 additional square feet is $22,500. The broker should... Add $22,500 to the s...

HECM Exam questions and correct answers A reverse mortgage is... - ANSWERS a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future time. A reverse mortgage is different from a home equity loan because - ANSWERS You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is mo...

Post-Licensing Practice Exam for Florida Real Estate Sales Associates Accurate 100% FHA requirements for housing expense ratios (HER) and total obligations ratio (TOR) are - ANSWER 28% (HER) and 36% (TOR). Yesterday, a broker obtained a 90-day listing contract that has a self-renewing provision extending the agreement an additional 60 days after expiration unless either party cancels in writing. The listing contract is - ANSWER void. Unlicensed personal assistants - ANSWER who are dir...

Superior School of Real Estate Final Exam| Questions and Answers, 100% Correct| Latest 2024 Superior School of Real Estate Final Exam| Questions and Answers, 100% Correct| Latest 2024 Which of the following would create legally binding acceptance of a written offer? The seller's agent emails the buyer's agent that the seller signed the offer as written. A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet. A comparable property has 27...

NM Real Estate Practice Exam Questions with Verified Solutions Feet in an acre 43,560 ft Feet in a Mile 5,280 ft A Plat An unofficial map or plan of a parcel of land that's been or will be subdivided to show the boundaries of each created lot Metes and Bounds Description using compass headings and directions Lot and Block Land description which provides plat reference Oversees Fannie Mae and Freddie Mac and regulates the Federal Home Loan Bank Federal Housing Finance Agency...

PreLicensing Final Exam (LATEST UPDATE) Questions and Answers Graded A+. A broker advertises his listing as waterfront. The property has a great view of the lake, but there is another lot located b/w the listed property & the lakeshore. The listing agent may be guilty of Willful B. Misrepresentation A broker engaging in property management is generally tasked by the property owner with C. Reinvesting profits to build the owner's investment portfolio A broker is aware the public road in f...

SAFE Mortgage Loan Originator Test - National Component with Uniform State Content Exam Questions With Verified Answers What does UST stand for? - answerUniform State Test Who does the CFPB protect? - answerThe Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? - answerCFPB is now in charge of implementing and enforcing most of the provisions of federal lending laws that relate to protecting consumers while they are shopping for,...

The SAFE Mortgage Loan Originator National Exam Study Guide practice Exam 2 Questions With 100% Correct Answers 1. Which of the following is NOT a loan origination activity? - answerC. Assisting in a loan modification 2. A unilateral contract is binding on: - answerA. One party 3. Loan originator organizations must keep compensation records for how many years? - answerC. Three 4. Mortgage companies must submit a residential loan origination activity report to the NMLSR every: - answerB....

PreLicensing Final Exam| Q & A, 100% verified| 2024 PreLicensing Final Exam| Q & A, 100% verified| 2024 A broker advertises his listing as waterfront. The property has a great view of the lake, but there is another lot located b/w the listed property & the lakeshore. The listing agent may be guilty of Willful B. Misrepresentation A broker engaging in property management is generally tasked by the property owner with C. Reinvesting profits to build the owner's investment portfolio...

Champions Real Estate Finance Practice Exam || Questions & Answers (100% Verified) Champions Real Estate Finance Practice Exam || Questions & Answers (100% Verified) A __________ is a permanent change in one or more of the terms of a borrower's loan. Loan Qualification Loan Modification Loan Approval Loan Origination - ANSWER - Loan Modification What time period must borrowers have in job history with the same employer to qualify? 2 months 6 months 1 year 2 years - AN...