CHAMPIONS REAL ESTATE FINANCE
COMPREHENSIVE PROPERTY INVESTMENT
REVIEW SHEET FULL SOLUTIONS
●● Underwriting
Answer: The process of evaluating a borrower's 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 monthly payment statements and collecting monthly
payments, maintaining payment records and following up on
delinquencies
●● Benefits of home ownership:
Answer: Occupancy, Tax Benefits, Pride of Ownership, Security,
Investment
●● Character
Answer: the willingness of a borrower to make on-time payments
,●● Capacity
Answer: the measure of the borrowers ability to repay the debt
●● Capital
Answer: the sum of all assets that the borrower has accumulated
●● Collateral
Answer: something of value that can be pledged as security for
repayment of the loan
●● Mortgage Banker
Answer: entities which provide their own funds for the purpose of
providing mortgage financing, as opposed to commercial banks
●● Correspondent Lender
Answer: Usually smaller in scale than mortgage bankers or brokers,
these lenders typically extend loans with their own funds
●● Capital Gains Tax for Married Couple & Filing Jointly
Answer: 500k & 250k
, to qualify the property must have been the individuals primary residence
for 2 of the previous 5 years
●● Housing and Economic Recovery Act of 2008
Answer: Signed by President George Bush to help with the recovery of
America's residential housing market
●● When was the Federal Housing Association (FHA) created?
Answer: 1929
1934 X
1912
2008
●● Who funds the FHA?
Answer: American Tax Payers
The FED
Fannie Mae
The FHA funds itself X
●● How long is the lifespan of a $20 bill?
Answer: More than 15 years
Less than 10 years X
Less than 5 years
COMPREHENSIVE PROPERTY INVESTMENT
REVIEW SHEET FULL SOLUTIONS
●● Underwriting
Answer: The process of evaluating a borrower's 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 monthly payment statements and collecting monthly
payments, maintaining payment records and following up on
delinquencies
●● Benefits of home ownership:
Answer: Occupancy, Tax Benefits, Pride of Ownership, Security,
Investment
●● Character
Answer: the willingness of a borrower to make on-time payments
,●● Capacity
Answer: the measure of the borrowers ability to repay the debt
●● Capital
Answer: the sum of all assets that the borrower has accumulated
●● Collateral
Answer: something of value that can be pledged as security for
repayment of the loan
●● Mortgage Banker
Answer: entities which provide their own funds for the purpose of
providing mortgage financing, as opposed to commercial banks
●● Correspondent Lender
Answer: Usually smaller in scale than mortgage bankers or brokers,
these lenders typically extend loans with their own funds
●● Capital Gains Tax for Married Couple & Filing Jointly
Answer: 500k & 250k
, to qualify the property must have been the individuals primary residence
for 2 of the previous 5 years
●● Housing and Economic Recovery Act of 2008
Answer: Signed by President George Bush to help with the recovery of
America's residential housing market
●● When was the Federal Housing Association (FHA) created?
Answer: 1929
1934 X
1912
2008
●● Who funds the FHA?
Answer: American Tax Payers
The FED
Fannie Mae
The FHA funds itself X
●● How long is the lifespan of a $20 bill?
Answer: More than 15 years
Less than 10 years X
Less than 5 years
