The lender Study guides, Class notes & Summaries
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HUD Certification Exam Questions And Answers 2023
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Deed Restrictions - Answer- Legally enforceable terms that govern the use of real estate 
 
Redlining - Answer- The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, disability, or familial status of the area's residents. 
 
Civil Rights Act of 1968 - Answer- Following the assassination of Dr. Martin Luther King Jr., Congress passed what monumental piece of legislation, which pr...
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Champions real estate finance Exam Questions with Verified Answers
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mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors 
 
Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing 
 
Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk 
 
Origination - Answer- The process of creating a new mortgage loan 
 
U...
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NC Post Licensing – 303 Correct 100%
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A Licensee may not earn compensation when there license - VIP - ANSWER is INACTIVE or EXPIRED 
 
A Licensee can receive compensation that was earned WHEN - VIPterm-0 - ANSWER the license was current and active even if inactive of expired after 
 
A BIC may NOT pay a licensee's ENTITY - ANSWER unless the entity has a firm license. 
 
A Licensee can share commission with parties BUT - ANSWER 1) Must be in writing - as part of the agreement 
 
2) Must be subject to Lender Approval in case of loans...
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HUD Housing Counselor Certification Practice
- Exam (elaborations) • 27 pages • 2023
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What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - Answer- 50% 
 
Which is the maximum recommended housing ratio for renting an apartment? - Answer- 30% 
 
Eligibility requirements for down-payment assistance programs include which factors? - Answer- Income, home-buyer education, purchase price 
 
The client is considering an FHA mortgage. What is the upfront mortgage insurance premium (UFMIP) for an 
FHA mortgage? - Answer- 1.7...
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McKissock Basic Appraisal Principles All Possible Questions and Answers 100% Solved
- Exam (elaborations) • 66 pages • 2024
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McKissock Basic Appraisal Principles 
All Possible Questions and Answers 
100% Solved 
An appraiser paid a referral fee in conjunction with an assignment. Which statement is TRUE 
regarding this situation, according to USPAP? The appraiser must disclose that a fee was 
paid, but does not have to disclose the amount paid. 
An appraiser finds out after completing an appraisal that the lender/client's loan did not close. 
What should the appraiser do regarding the appraisal fee? Charge the agr...
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WGU D196- Principles of Financial and Managerial Accounting COMPLETE EXAM REVIEW 2023 COURSE REQUIREMENT
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WGU D196- Principles of Financial and Managerial Accounting COMPLETE EXAM REVIEW 2023 COURSE REQUIREMENT 
 
bookkeeping - day to day keeping of transcations 
 
steps of decision making - identify issue 
gather information 
identify alternatives 
select option that most likely results in desired objective 
 
accounting - analysis of events 
record and report financial effects of business activities 
 
where does capital come from (3) - investors 
creditors(lenders) 
business itself (from earnings...
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REAL ESTATE FINANCE PRACTICE EXAM NEW SOLUTION 2023 COMPLETE EXAM UPDATE
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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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WISE PRACTICE TEST- COMPLETE STUDY GUIDE QUESTIONS AND ANSWERS 2023 NEW UPDATE
- Exam (elaborations) • 16 pages • 2023
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WISE PRACTICE TEST- COMPLETE STUDY GUIDE QUESTIONS AND ANSWERS 2023 NEW UPDATE 
 
Question : To qualify for a Federal Housing Administration (FHA) loan, a person must generally 
 
 
A high school student has begun to investigate the field of finance as a career choice. In deciding about the field, the student should focus on which question first? 
 
 
A: Will I find a balance between financial rewards and personal satisfaction from work? 
 
A company offers a defined-contribution pension pl...
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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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RECA Fundamentals of Mortgage Brokerage 2023 Exam
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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...