Champions School Of Real Estate - FINANCE EXAM QUESTIONS & ANSWERS 100% ACCURATE

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 following Federal Fair Housing statues prohibit housing discrimination - ANSWER-National Origin All residential mortgage loan originators must now be registered with the ______. - ANSWER-Nationwide Mortgage Licensing System and Registry (NMLSR) A young couple would like to buy a rundown house, with a high credit score, but the lender refuses to sell in that location. What is the lender guilty of? - ANSWER-Redlining under the Community Reinvestment Act (CRA) The ______ prohibits Redlining. - ANSWER-Community Reinvestment Act The state of Texas plays a role in affordable housing through the _______. - ANSWER-The Texas Department of Housing and Community Affairs (TDHCA) To participate in the Texas Veterans Loan Board Program a veteran can obtain any of these loans: A. VA B. FHA C. Conventional D. All of the above - ANSWER-D. All of the above