Borrowers Study guides, Revision notes & Summaries
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HECM Practice Exam 2023 Questions and Answers
- Exam (elaborations) • 17 pages • 2023
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The HECM Saver was introduced as an option to lower the upfront cost of a HECM by reducing the upfront mortgage insurance premium to: 
a. 0. 
b. 0.01% of the Maximum Claim Amount. 
c. 1% of the Maximum Claim Amount. 
d. 1.25% of the Maximum Claim Amount. - ANSWER-b 
 
If repairs are required but can be completed after closing, the lender will create a repair set-aside in the amount of: 
a. 15% of the maximum claim amount. 
b. 100% of the actual cost of repairs. 
c. 100% of the estimated cost of...
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Refining_your_Graphs_VisualAnalytics_Week14_NEC_Solved
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1.	look at the first six rows of the asasec dataset 
2.	plot members v revenue for 2014 in a scatterplot with a confidence interval 
3.	switch from loess to ols and add the Journal variable 
4.	show the first six rows of studebt 
5.	create a faceted comparison of the two distributions - percent of all borrowers and Percent of all balances to show how student loan debt is distributed. 
6.	Compare this pair of graphs to the pie charts in figure 8.24 Which visualization do you find it easier to ma...
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CQIB Exam 2023 Questions and Answers
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Mutually owned co-operative financial institutions offering benefits to members through a trust-like structure" describes which type of Insurer/Fund Manager? - Answer- Friendly Society 
 
Which is the decision-making process of framing? - Answer- To remove the 'noise' from an issue to allow us to see the problem for what it is 
 
Under the RG271 what is the maximum timeframes for IDR response for a Superannuation trustee complaints? - Answer- 45 days after receiving the complaint 
 
In the se...
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REE Final Exam Questions with complete solutions
- Exam (elaborations) • 27 pages • 2024
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The element of an adjustable interest rate that is the "moving part" is the: 
A. Teaser rate 
B. Index 
C. Margin 
D. Adjustment period 
E. Adjustment caps Correct Answer-B. Index 
the index rate represents the lenders cost of funds. the index rate is determined by the market, whereas the other answers are all fixed and specified in the note. 
 
Suppose a bank recognizes substantial deterioration in a borrowers credit score and notifies him that he must pay his home equity line of credit in f...
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ASREB TEST QUESTIONS & ANSWERS SOLVED 100% CORRECT!! A borrower is required to put 10% down
- Exam (elaborations) • 19 pages • 2024
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ASREB TEST QUESTIONS & ANSWERS SOLVED 100% CORRECT!! 
 
A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered... 
Equity 
A broker, acting as a property manager, would be considered what type of agent? 
General 
A contract has been signed, but title has not yet been passed. The contract is... 
Executory 
A house cost $100,000. The buyer is making a down payment of 32,000 and getting a $68,000 loan. If there are 4 points, how much money will be pa...
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NSA Notary Signing Agent Questions & Answers Correct 100%(RATED A)
- Exam (elaborations) • 5 pages • 2023
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A Notary Signing Agent has been providing signing services with no incidents for over 10 years without having undergone a background screening. Therefore he or she: - ANSWERSMust still obtain and pass a background screening 
 
A Notary Signing Agent with nearly 10 years experience has reviewed and is completely familiar with all the documents in a loan package. When meeting with the borrower, the Notary Signing Agent may now: - ANSWERSPresent and state the general purpose of each document and ho...
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HECM REVERSE MORTGAGE: A LOAN AGAINST HOME EQUITY PROVIDING CASH AVANCES TO A BORROWER AND REQUIRING NO REPAYMENT UNTIL A FUTURE TIME
- Exam (elaborations) • 7 pages • 2023
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HOME EQUITY correct answer: HOME VALUE MINUS LIENS ON THE HOME 
 
PURPOSE OF A REVERSE MORTGAGE correct answer: GENERATE CASH 
 
FORWARD MORTGAGE PURPOSE correct answer: THE ORDINARY MORTGAGE MOST PEOPLE USE TO PURCHASE HOME 
 
FORWARD MORTGAGE correct answer: BORROWERS EQUITY INCREASES OVER TIME THE LOAN BALANCES DECREASES AS PAYMENTS ARE MADE TO LENDER 
 
REVERSE MORTGAGE correct answer: RISING DEBT FALLING EQUITY TRANSACTIONS 
 
HECM BASIC FEATURES correct answer: THE BORROWER RETAINS T...
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ECS1601 Assignment 4 Semester 2 2023 (SOLUTIONS/ANSWERS)
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ECS1601 Assignment 4 Semester 2 2023 (SOLUTIONS/ANSWERS) 
 
Question 1 
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Question text 
The distribution effects of inflation are best described by … 
a. 
the elderly benefiting at the expense of the young. 
b. 
creditors benefiting at the expense of debtors. 
c. 
borrowers benefiting at the expense of lenders. 
d. 
the poor benefiting at the expense of the rich. 
Clear my choice 
Question 2 
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Quest...
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REAL ESTATE FINANCE 1 - TEXAS, CHAMPIONS SCHOOL OF REAL ESTATE – FINANCE
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Loan Processing - 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 - Answer-The process of evaluating a borrowers 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 ...
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Aceable Agent Texas Real Estate Principles I questions and answers
- Exam (elaborations) • 5 pages • 2023
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Broker's Price Opinion (BPO) 
A broker's price opinion is the process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property 
 
 
 
Closing 
The completion of a real estate transaction in which the buyer receives ownership and the seller receives the contract amount 
 
 
 
Comparative Market Analysis (CMA) 
A report comparing the prices of sold homes that are similar to the subject property (called comparables), created by a license ho...
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