Loan origination - Study guides, Class notes & Summaries

Champions School Of Real Estate – FINANCE Exam || Complete Questions & Answers (Graded A+) Champions School Of Real Estate – FINANCE Exam || Complete Questions & Answers (Graded A+) The process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower are _____. - ANSWER - Origination activities The process of evaluating a borrower's loan application to determine the risk involved for the lender is - ANSWER - Underwriting Which of the ...

Champions School Of Real Estate Finance 2024 Tested And Verified Seller's market - CORRECT ANSWER-When supply is low and demand is high Buyer's market - CORRECT ANSWER-When supply is high and demand is low The process of creating a new mortgage loan - CORRECT ANSWER-Origination The detailed process of evaluating a borrower's loan application to determine the risk involved for the lender - CORRECT ANSWER-Underwriting When there is an excess of money supply in the market - CORRECT ANSWER...

SAFE Mortgage Loan Originator Test - National Component with Uniform State Content Questions and Answers Already Passed What does UST stand for? Uniform State Test Who does the CFPB protect? The Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? CFPB 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, securing, and p...

Real Estate Finance I-Champions Final Exam 2024 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 - CORRECT ANSWER-B _________ is the process of creating a new mortgage loan. (a) Origination (b) Funding (c) Underwriting (d) Servicing * - CORRECT ANSWER-A A veteran can have more than one VA loan: (a) If the prior VA loan was paid in full and the property disposed of (b) The prior VA l...

Real Estate Finance I-CHAMPIONS Questions and Answers 100% Accurate Real Estate Finance I-CHAMPIONS Questions and Answers 100% Accurate Real Estate Finance I-CHAMPIONS Questions and Answers 100% Accurate V 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

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 sales price of the comparable property. An option to purchase has bee...

Texas Promulgated Contracts-CHAMPIONS STUDY 2022-2023. The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilatera...

The SAFE Mortgage Loan Originator National Exam Study Guide practice exam 2 with Complete Solutions 1. Which of the following is NOT a loan origination activity? C. Assisting in a loan modification 2. A unilateral contract is binding on: A. One party 3. Loan originator organizations must keep compensation records for how many years? C. Three 4. Mortgage companies must submit a residential loan origination activity report to the NMLSR every: B. Three months 5. How many years m...

What does UST stand for? - Uniform State Test Who does the CFPB protect? - The Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? - CFPB 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, securing, and paying off mortgages. What is the purpose of RESPA? (3 things) - a.Protect consumers from excessive settlement costs and unea...

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-A A veteran can have more than one VA loan: (a) If the prior VA loan was paid in full and the property disposed of (b) The prior VA loan was assumed by an eligible ...