Real Estate Finance Exam Questions & Answers 100% Correct

Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies - ANSWER-Servicing The process of creating a new mortgage loan - ANSWER-Origination The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision - ANSWER-Loan Processing The process of transferring funds to a title of escrow company for disbursement - ANSWER-Funding The process of evaluating a borrower's loan application to determine the risk involved for the lender - ANSWER-Underwriting The owner occupies the residence - ANSWER-Occupancy Mortgage interest and property taxes may be tax-deductible - ANSWER-Tax Benefits Many homeowners see the home as a sign of accomplishment - ANSWER-Pride of Ownership Homeownership protects the individual or family from future income rates - ANSWER-Security Properties are purchased and held in anticipations of income, appreciation, or both - ANSWER-Investment