Study guides, Class notes & Summaries

Champions Real Estate Finance Study Guide Exam Final 2024 Congress created the Federal Housing Administration in - CORRECT ANSWER-1934 In order to qualify for exemption from capital gains, the property must have been the primary residence for two of the previous ___ years - CORRECT ANSWER-5 years A loan with no discount points is known as a - CORRECT ANSWER-Par loan What is Fiat money - CORRECT ANSWER-Currency that is not backed up by any precious metals At the treasury level, funds c...

Champions School Of Real Estate ( Real Estate Finance) 2024 Tested A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) - CORRECT ANSWER-Non-Conforming Loan VA - CORRECT ANSWER-Veteran's administration - assists veterans in the purchase of housing by guaranteeing loans) Seller's equity - CORRECT ANSWER-Cash price minus the loan balance A clause often found in a blanket loan allowing the borrower to obtain partial releases of specific lots by making required ...

Real Estate Finance 1 - Texas, Champions School Of Real Estate – Finance 2024 Latest Loan Processing - CORRECT 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 - CORRECT ANSWER-The process of evaluating a borrowers loan application to determine the risk involved for the lender. Funding - CORRECT ANSWER-The process of transferring funds to a title or escrow company for disburs...

Champions - Real Estate Finance Questions And Answers 2024 100% Scores Loan Processing - CORRECT 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 - CORRECT ANSWER-The process of evaluating a borrower's loan application to determine the risk involved for the lender. Funding - CORRECT ANSWER-The process of transferring funds to a title or escrow company for disbursement. Servic...

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 ANSW...

Champions Real Estate Finance (Questions And Answers) 2024 mortgage Broker - CORRECT ANSWER-Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - CORRECT ANSWER-Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - CORRECT ANSWER-Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at th...

Real Estate Finance Champions 2024 Final Test With Verified Answers Origination - CORRECT ANSWER-The process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower Credit reports will be ordered, in most cases from all three major national credit reporting agencies: - CORRECT ANSWER-Experian, Equifax, and TransUnion Not all creditors will report to all three, they will - CORRECT ANSWER-Each reporting agency will report a different cred...

Champions Real Estate Finance Final Exam With Correct Answers 2024 Loan-to-Value Ratio (LTV) -CORRECT ANSWER-The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage -CORRECT ANSWER-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage -CORRECT ANSWER...

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...

In ______ the Texas Real Estate Commission was established to administer and enforce the TRELA. - correct answer 1949 TREC has only _______ promulgated lease forms. - correct answer 2 promulgated form 공포된 양식 In the TAR® Seller's Disclosure the seller should _______. a. prepare the disclosure when the listing is taken b. be the only one completing this form or any part of it c. none of the above d. both a and b - correct answer d. both a and b The _______ statute pr...