Champions Real Estate Finance Already Passed!! EXAM BUNDLE 2023

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 Small...

Loan-to-Value Ratio (LTV) - ANSWERThe 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 Mortgag...

Mortgage - ANSWER A pledge of real property as security for a debt. Deed of Trust - ANSWER A three party loan instrument - borrower, lender and trustee. Note, Promissory Note - ANSWER A personal promise to repay a debt. Mortgagor - ANSWER Borrower under a mortgage Mortgagee - ANSWER Lend...

The science that describes the management, creation, and study of money, banking, credit, investments, assets, and liabilities is - ANSWER Finance Most real estate cycles in Texas are determined by: - ANSWER Supply and demand __________________ measure(s) the wealth and resources of a particu...