Study guides, Class notes & Summaries

REAL ESTATE FINANCE CHAMPIONS EXAM NEWEST 2024 ACTUAL EXAM COMPLETE 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERFIED ANSWERS) |ALREADY GRADED A+

What does the Federal Housing Administration statues prohibits? - Answer-Prohibits discrimination based on: NATIONAL ORIGIN Race color Religion Sex Families with children Disabilities Loan not intended for sale in the secondary market. b/c it is retained by the lender in their investment portfolio - Answer-Portfolio Loan What is TDHCA? - Answer-(Texas Department of Housing and Community Affairs) Responsible for affordable housing. Is the process of creating a new mortgage loan. ...

Real Estate Finance Champions Elaborated 100% Ad valorem (according to value) - Taxes are assessed based upon the assessed value of the property and the existing tax rate. The assessed value for tax purposes is determined by the taxing authority and may be well above or below the value based upon a real appraisal. Advantage of municipal bonds is - That the interest paid to investors is not subject to federal income tax, making them appealing to investors who need to shelter some ...

Real Estate Finance Champions Exam/60 Questions and Answers/A+ Graded

Real Estate Finance Champions-with 100% verified solutions

Real Estate Finance Champions-with 100% verified solutions

Real Estate Finance Champions-with 100% verified solutions

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-Lender under a mortgage Beneficiary - ANSWER-Lender under a deed of trust Trustor - ANSWER-Borrower under a deed of trust Trustee - ANSWER-A third party under a deed of trust who acts as an agent...

VA loan requirements - ANSWER-· Must be honorably discharged · Must meet service requirements · Time frame of service; number of days active duty · Must obtain certificate of eligibility Loan terminology - origination, funding, underwriting, servicing - ANSWER-· Origination: Process of creating a new mortgage loan; includes steps to attract and qualify a borrower · Funding: Process of transferring funds to a title or escrow company for disbursement · Underwriting: Process of evalu...