Borrower Study guides, Class notes & Summaries
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CHAMPIONS REAL ESTATE FINANCE GRADED A+ ALREADY PASSED 2023
- Exam (elaborations) • 22 pages • 2023
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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 Covers more than one piece of property. 
 
Wraparound Mortgage - c...
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2022 /23 PSC - Finance and Business Exam Notes
- Other • 26 pages • 2023
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QUESTION 1A – FSMA REGULATIONS 
No person may carry on a regulated activity in the UK unless authorised or exempt (s19 FSMA). 
Need to ensure that the firm is not committing a criminal offence by carrying out a regulated activity 
without authority pursuant to S 23 FSMA, so we need to consider the effect of FSMA. 
1. Are you in Business? 
a. For an activity to be a regulated activity under FSMA, it must be “carried on by way of business”. 
As the firm is providing a service for the client,...
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NMLS Test Prep CompuCram Test | 120 Questions with 100% Correct Answers | Verified | Latest Update 2024
- Exam (elaborations) • 12 pages • 2024
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A borrower signs the note and mortgage for a refinance on his principal residence on Thursday, Dec. 31. 
What is the earliest day the funds for this loan could be disbursed (assuming no bona fide financial 
hardship)? - Wednesday, Jan. 6 
Who manages the National Do Not Call Registry? - Federal Trade Commission 
What federal legislation regulates credit reporting agencies and lenders concerning credit reporting? - 
FCRA 
What is not prohibited to be included in the loan terms for HOEPA covered i...
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NMLS Practice Test Hard Questions With Correct Answers 2024.
- Exam (elaborations) • 27 pages • 2024
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NMLS Practice Test Hard Questions With Correct Answers 2024.A discount point is BEST described as a charge the borrower pays to: 
 
A.) A lender to decrease the interest rate on the mortgage loan 
B.) A mortgage broker at the time of application to obtain a favorable rate 
C.) The seller as part of the closing costs of a loan 
D.) A lender to ensure against foreclosure - correct answer A.) A lender to decrease the interest rate on the mortgage loan 
 
A buyer has made an earnest money payment of...
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U.S. Forces Drivers Training Program for Europe Final Exam 2 He Questions and Answers 100% Correct
- Exam (elaborations) • 37 pages • 2024
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U.S. Forces Drivers Training Program 
for Europe Final Exam 2 He Questions 
and Answers 100% Correct 
For registration purposes, the insurance policy cannot substitute for the insurance confirmation 
card as proof of automobile insurance under German law and U.S. Forces regulations. (para 
33e(3)) 
a. True. 
b. False. True 
License plates issued to drivers by the Registry of Motor Vehicles automatically become the 
driver's property. (para 33c(1)(a)) 
a. True. 
b. False. False 
The driver...
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Champions Real Estate Finance Exam Questions and Answers 2023
- Exam (elaborations) • 4 pages • 2023
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_____ is the consummation of a contractual real estate transaction in which all appropriate documents are signed, and the mortgage loan proceeds are disbursed by the lender. - Answer- Closing 
 
The primary determinants of real estate values are supply and _____. - Answer- Demand 
 
_____ is something of value that can be pledged as security for repayment of a loan. - Answer- Collateral 
 
Servicing includes which of the following activities? - Answer- Maintaining records of payment 
 
The monet...
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NSA Notary correct answers 100% rated
- Exam (elaborations) • 5 pages • 2023
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NSA Notary correct answers 100% rated 
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: 
Must 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: 
Present and state the general purp...
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Gold Coast 45 Hour Exam Questions (exam version H 2023) Answer Key at the end
- Exam (elaborations) • 12 pages • 2023
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Gold Coast 45 Hour Exam Questions (exam version H 2023) Answer Key at the end 
Gold Coast 45 Hour Exam Questions (exam 
version H 2023) Answer Key at the end 
Property managers who are employed and compensated by community 
associations are required to obtain and maintain which type of license? 
CAM 
What term is used for the practice of specializing in one particular residential 
neighborhood or type of property? 
Farming 
upon closing a sales transaction who pays the sales associate their ...
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REAL ESTATE FINANCE PRACTICE EXAM NEW SOLUTION 2023 COMPLETE EXAM UPDATE
- Exam (elaborations) • 11 pages • 2023
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A __________ is a permanent change in one or more of the terms of a borrower's loan. 
Loan Qualification 
Loan Modification 
Loan Approval 
Loan Origination - ANS IS Loan Modification 
What time period must borrowers have in job history with the same employer to qualify? 
2 months 
6 months 
1 year 
2 years - ANS IS 2 years 
Unscrupulous actions carried out by a lender to entice, induce and/or assist a borrower 
in taking a mortgage that carries high fees, a high interest rate, strips the borro...
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RECA Fundamentals of Mortgage Brokerage 2023 Exam
- Exam (elaborations) • 41 pages • 2023
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Which of the following is part of RECA's commitment to consumer protection? - AnswerWhat are some benefits that mortgage brokerage trade associations offer their 
members? - Answer- Licensing Standards for mortgage industry members 
Which entity has the authority to amend the Act? - Answer- Provincial Legislators 
Which of the following represents an accountability mechanism that RECA must comply 
with under the Act? - Answer- Previous Fiscal year 
In addition to mortgage brokerage trade associ...
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