Correspondent lender Study guides, Class notes & Summaries
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CHAMPIONS REAL ESTATE FINANCE GRADED A+ ALREADY PASSED 2023
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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 Covers more than one piece of property. 
 
Wraparound Mortgage - c...
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Champions Real Estate Finance Final Exam With Correct Answers 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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Champions real estate finance Exam Questions with Verified Answers
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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 
 
U...
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Champions Real Estate Finance graded A+ already passed 2023
- Exam (elaborations) • 20 pages • 2023
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Champions Real Estate Finance graded A+ already passed 2023Loan-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 Covers ...
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NMLS Study Guide 2023-2024 with Complete Solutions
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NMLS Study Guide with Complete SolutionsNMLS Study Guide with Complete SolutionsNMLS Study Guide with Complete SolutionsNMLS Study Guide with Complete Solutions 
Portfolio Lender - ANSWER-Retail lender (ex. a bank, savings bank, credit union, or mortgage lender) that interacts directly with the borrower and actually makes the loan. If it holds, rather than sells, it's loans, it is called a portfolio lender. 
 
Correspondent Lender - ANSWER-Generally a smaller lender that takes apps and unde...
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Champions Real Estate Finance Latest Version Graded A+
- Exam (elaborations) • 33 pages • 2024
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Champions Real Estate Finance Latest 
 
Version Graded A+ 
 
Loan-to-Value Ratio (LTV) 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 Includes both real and personal property ( fixtures and furnishings) 
 
Blanket Mortgage Covers more than one piece of property. 
 
Wraparound ...
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REE Final Exam questions with complete solutions
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With respect to bearing the risk of future property price fluctuations, which of the following lending relationships is viewed as the most risky from the borrower's perspective? Correct Answer-Straight debt 
 
Developers may be attracted to a _______________________which enables them to proceed with construction without long term financing, if they expect to sell the project or refinance into a permanent loan before the term of the ______________________expires. Correct Answer-Mini-perm loan 
 ...
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Xinnix Ground School Exam Questions With Answers
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Xinnix Ground School Exam Questions With Answers 
first-time homebuyer 
Someone who has never owned a home 
 
 
Move-up homebuyer 
Currently owns, or has previously owned a home and is looking to move up in price, location, size, etc. 
 
 
Relocation Homebuyer 
Purchasing a new home in a different city or state due to job transfer or personal desire 
 
 
Affluent homebuyer 
Well seasoned in home buying process. Knowledgeable, financially savvy, busy. 
 
 
Empty-nester homebuyer 
Experienced home...
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Xinnix Ground School Exam Questions With Answers
- Exam (elaborations) • 7 pages • 2024
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Xinnix Ground School Exam Questions With Answers 
first-time homebuyer 
Someone who has never owned a home 
 
 
Move-up homebuyer 
Currently owns, or has previously owned a home and is looking to move up in price, location, size, etc. 
 
 
Relocation Homebuyer 
Purchasing a new home in a different city or state due to job transfer or personal desire 
 
 
Affluent homebuyer 
Well seasoned in home buying process. Knowledgeable, financially savvy, busy. 
 
 
Empty-nester homebuyer 
Experienced home...
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Champions - Real Estate Finance Questions And Answers 2024 100% Scores
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Champions - Real Estate Finance 
Questions And Answers 2024 100% 
Scores 
Loan Processing - CORRECT 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 - CORRECT ANSWER-The process of evaluating a borrower's loan 
application to determine the risk involved for the lender. 
Funding - CORRECT ANSWER-The process of transferring funds to a title or escrow 
company for disbursement. 
Servic...
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