Wraparound mortgage Study guides, Class notes & Summaries

Champions real estate finance with Correct Solutions Latest Loan-to-Value Ratio (LTV) - 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 - Answer -Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - Answer -Covers more than one piece of...

Champions School of Real Estate - Real Estate Finance exam Correctly Answered 2024 Loan-to-Value Ratio (LTV) - 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 - Answer -Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - Answer -Cover...

true or false: financial decision making is based on the concept of wealth maximization - ANSWERtrue true or false: the internal rate of return is the interest rate for which a project's net present value (NPV) is exactly equal to zero - ANSWERtrue true or false: initial equity is the purchase price less any debt used to complete the purchase - ANSWERtrue which of the following is not a characteristic of risk? a) the later the cash flows are expected to be received, the greater the ri...

Abstract of Title A summary and certification by the abstractor of the history of the title to property form the original grant through all subsequent conveyances. Acceleration Clause The clause in a mortgage or deed o trust that can be enforced making the entire debt due immediately upon default of the borrower. Acceptance The expression of the intention of the person receiving an offer (offeree, usually the seller) to be bound by the terms of the offer. Accession Obtai...

Champions Real Estate Finance 2 Versions Exam With Perfect Questions And Answers The consummation of a real estate transaction in which all appropriate documents are signed and the proceeds of the mortgage loan are then disbursed by the lender. - Closing Includes collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance ( and managing escrow and impound funds) remitting funds to the note holder, and following up on delinquencie...

Real estate has been estimated to represent approximately - ANSWER-one-half of the world's total economic wealth. The buyer's ability to finance the property is an important, if not the -------, contingency in most residential transactions, and a significant driver in the entire real estate-based economy. - ANSWER-primary Texas is a: a. Lien Theory b. Title Theory - ANSWER-a. Lien Theory Lien Theory - ANSWER-In lien theory states such as Texas, the security for a mortgage is a lie...

When a deed in lieu of foreclosure is given to a lender, which of the following is true? - correct answer Time and cost are less B buys land from W using a deed of trust as security for the carryback. B makes all the payments except the final three and is now in default. W does nothing and decides not to foreclose until later. By doing this W is exercising his right of: - correct answer Forbearance A commercial building is sold in a foreclosure for $100,000 less than the balance due the le...

Champions real estate finance Exam Questions with Verified Answers Loan-to-Value Ratio (LTV) ANS-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 ANS-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage ANS-Covers more than one piece of propert...

When a deed in lieu of foreclosure is given to a lender, which of the following is true? - Time and cost are less B buys land from W using a deed of trust as security for the carryback. B makes all the payments except the final three and is now in default. W does nothing and decides not to foreclose until later. By doing this W is exercising his right of: - Forbearance A commercial building is sold in a foreclosure for $100,000 less than the balance due the lender. Which of the followi...

Illinois Real Estate Practice Exam Questions and Answers Objectives of Federal Reserve System - Answer- To counteract inflationary and deflationary trends, to create a favorable economic climate, to maintain sound credit conditions but NOT to control the secondary mortgage market Remainder Interest - Answer- A fee simple holder of a parcel of real estate grants a life estate to her daughter and stipulates that upon the daughters death, the property will pass to her grandson. The second es...