Reverse mortgage Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Reverse mortgage? On this page you'll find 969 study documents about Reverse mortgage.
All 969 results
Sort by
![RMLO - Champions School of Real Estate| 109 questions with 100% correct answers](/docpics/3611412/652864070e966_3611412_121_171.jpeg)
-
RMLO - Champions School of Real Estate| 109 questions with 100% correct answers
- Exam (elaborations) • 12 pages • 2023
- Available in package deal
-
- $15.99
- 1x sold
- + learn more
A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. 
secondary market 
 
 
 
The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. 
Federal Housing Finance Agency (FHFA) 
 
 
 
The ____ guarantee allows mortgage lenders to obtain a better price for their loan in the capital markets. 
Gov't. National Mortgage Association - Ginnie Mae 
 
 
 
T...
HECM Reverse Mortgage Complete Study Questions And Answers 2024 
 
HECM Reverse Mortgage Complete Study Questions And Answers 2024
![Balloon Mortgages, Reverse Mortgages || with 100% Errorless Answers.](/docpics/5382145/664c0b652dda4_5382145_121_171.jpeg)
-
Balloon Mortgages, Reverse Mortgages || with 100% Errorless Answers.
- Exam (elaborations) • 5 pages • 2024
-
Available in package deal
-
- $10.19
- + learn more
what is a balloon mortgage? correct answers requires a borrower to make 1 large payment at the end of the loan term, which is typically 5-7 years 
 
high cost mortgages may not include a balloon payment correct answers 
 
____________________ allows the borrower to request modification of the loan terms at maturity - borrower must qualify correct answers conditional refinance provision 
 
what is amortization? correct answers process of fully paying off a loan in regular payments over a specifi...
![Champions real estate finance Exam Questions with Verified Answers](/docpics/641c9c8db0438_2508019.jpg)
-
Champions real estate finance Exam Questions with Verified Answers
- Exam (elaborations) • 8 pages • 2023
-
Available in package deal
-
- $12.49
- 3x sold
- + learn more
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...
![Reverse Mortgages || All Answers Are Correct 100%.](/docpics/5382183/664c0d1bd5f27_5382183_121_171.jpeg)
-
Reverse Mortgages || All Answers Are Correct 100%.
- Exam (elaborations) • 5 pages • 2024
-
Available in package deal
-
- $10.29
- + learn more
Borrower's Estimated Closing Statement correct answers A settlement statement is a document given to borrowers at closing that itemizes services and fees charged to the borrower by the lender or broker. It also contains a good faith estimate. 
 
A settlement statement is a document that summarizes the terms and conditions of a settlement, most commonly a loan agreement. A loan settlement statement provides full disclosure of a loan's terms, but most importantly it details all of the fees and c...
![HECM REVERSE MORTGAGE EXAM QUESTIONS AND ANSWERS 100% PASS](/docpics/4766900/65f7354f509ce_4766900_121_171.jpeg)
-
HECM REVERSE MORTGAGE EXAM QUESTIONS AND ANSWERS 100% PASS
- Exam (elaborations) • 11 pages • 2024
-
- $12.49
- + learn more
HECM REVERSE MORTGAGE EXAM QUESTIONS AND 
ANSWERS 100% PASS 
HOME EQUITY - Answer- HOME VALUE MINUS LIENS ON THE HOME 
PURPOSE OF A REVERSE MORTGAGE - Answer- GENERATE CASH 
FORWARD MORTGAGE PURPOSE - Answer- THE ORDINARY MORTGAGE MOST 
PEOPLE USE TO PURCHASE HOME 
FORWARD MORTGAGE - Answer- BORROWERS EQUITY INCREASES OVER TIME 
THE LOAN BALANCES DECREASES AS PAYMENTS ARE MADE TO LENDER 
REVERSE MORTGAGE - Answer- RISING DEBT FALLING EQUITY TRANSACTIONS 
HECM BASIC FEATURES - Answer- THE BORROWE...
![Reverse Mortgages || with 100% Verified Solutions.](/docpics/5382191/664c0d5214754_5382191_121_171.jpeg)
-
Reverse Mortgages || with 100% Verified Solutions.
- Exam (elaborations) • 3 pages • 2024
-
Available in package deal
-
- $9.99
- + learn more
Who are reverse mortgages popular products for and why? correct answers Popular for older homeowners who have equity in their homes and little or no income. 
 
What do reverse mortgages allow people to do? correct answers Allow older homeowners to use equity in their homes to meet expenses of living or to pay for home improvements 
 
Are borrowers required to repay a reverse mortgage? correct answers They are not required to repay as long as they continue to live in the home 
 
At what age are r...
![HECM REVERSE MORTGAGE: A LOAN AGAINST HOME EQUITY PROVIDING CASH AVANCES TO A BORROWER AND REQUIRING NO REPAYMENT UNTIL A FUTURE TIME || very Flawless.](/docpics/5382154/664c0be8bd4f6_5382154_121_171.jpeg)
-
HECM REVERSE MORTGAGE: A LOAN AGAINST HOME EQUITY PROVIDING CASH AVANCES TO A BORROWER AND REQUIRING NO REPAYMENT UNTIL A FUTURE TIME || very Flawless.
- Exam (elaborations) • 7 pages • 2024
-
Available in package deal
-
- $10.39
- + learn more
HOME EQUITY correct answers HOME VALUE MINUS LIENS ON THE HOME 
 
PURPOSE OF A REVERSE MORTGAGE correct answers GENERATE CASH 
 
FORWARD MORTGAGE PURPOSE correct answers THE ORDINARY MORTGAGE MOST PEOPLE USE TO PURCHASE HOME 
 
FORWARD MORTGAGE correct answers BORROWERS EQUITY INCREASES OVER TIME THE LOAN BALANCES DECREASES AS PAYMENTS ARE MADE TO LENDER 
 
REVERSE MORTGAGE correct answers RISING DEBT FALLING EQUITY TRANSACTIONS 
 
HECM BASIC FEATURES correct answers THE BORROWER RETAINS TITLE T...
![HECM REVERSE MORTGAGE EXAM QUESTIONS AND ANSWERS 100% PASS](/docpics/4856169/660513e05df00_4856169_121_171.jpeg)
-
HECM REVERSE MORTGAGE EXAM QUESTIONS AND ANSWERS 100% PASS
- Exam (elaborations) • 11 pages • 2024
-
- $12.49
- + learn more
HECM REVERSE MORTGAGE EXAM QUESTIONS AND 
ANSWERS 100% PASS 
HOME EQUITY - Answer- HOME VALUE MINUS LIENS ON THE HOME 
PURPOSE OF A REVERSE MORTGAGE - Answer- GENERATE CASH 
FORWARD MORTGAGE PURPOSE - Answer- THE ORDINARY MORTGAGE MOST 
PEOPLE USE TO PURCHASE HOME 
FORWARD MORTGAGE - Answer- BORROWERS EQUITY INCREASES OVER TIME 
THE LOAN BALANCES DECREASES AS PAYMENTS ARE MADE TO LENDER 
REVERSE MORTGAGE - Answer- RISING DEBT FALLING EQUITY TRANSACTIONS 
HECM BASIC FEATURES - Answer- THE BORROWE...
![HECM Practice Exam 2023 Questions and Answers](/docpics/63bb222e60e34_2235028.jpg)
-
HECM Practice Exam 2023 Questions and Answers
- Exam (elaborations) • 17 pages • 2023
-
- $10.09
- 1x sold
- + learn more
The HECM Saver was introduced as an option to lower the upfront cost of a HECM by reducing the upfront mortgage insurance premium to: 
a. 0. 
b. 0.01% of the Maximum Claim Amount. 
c. 1% of the Maximum Claim Amount. 
d. 1.25% of the Maximum Claim Amount. - ANSWER-b 
 
If repairs are required but can be completed after closing, the lender will create a repair set-aside in the amount of: 
a. 15% of the maximum claim amount. 
b. 100% of the actual cost of repairs. 
c. 100% of the estimated cost of...
![Verkoop je kennis op stuvia](https://www.stuvia.com/hosted-imgs/app/stock-fotos/banner_seller_big.jpg)
$6.50 for your textbook summary multiplied by 100 fellow students... Do the math: that's a lot of money! Don't be a thief of your own wallet and start uploading yours now. Discover all about earning on Stuvia