Finance exam Champions Questions With complete Solutions

origination - ANSWER-process of creating a new mortgage loan funding - ANSWER-The process of transferring funds to a title or escrow company for disbursement underwriting - ANSWER-process of evaluating a borrowers loan application to determine the risk involved for the lender servicing - ANSWER-sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies processing - ANSWER-collecting info about a borrower in order to build a loan file that will be used to make an underwriting decision Fair housing protected categories - ANSWER--race -color -national origin -sex -religion -families with children -disabilities RMLOs - ANSWER-Residential Mortgage Loan Originators RMLO registration - ANSWER-must be educated and register with the NMSLR (nationwide mortgage licensing system and registry)