c. federal savings and loans. Interim financing and construction loan 50. c. Total of all finance charges b. Which of the following statements is not true about mortgages? What is the annual rate of interest? c. $978.54 b. All of the following statements about short sales are true EXCEPT deposited in escrow, and the buyer obtained a new loan for the balance of the purchase Estates for life; 3. b. result in lower monthly mortgage payments. d. "Assumable mortgages available", A developer had a mortgage loan on an entire development. = $11,742.50 ann. $65,988 All of the following statements about short sales are true EXCEPT. Annual percentage rate b. They found a negative short-term effect of over 303030 percent and an ongoing negative impact of over 777 percent. c. Ginnie Mae is associated with conventional loans. B. MLOs must avoid even an apparent conflict of interest. d. $1,174.25, c following financing arrangements? What do you conclude about whether the number of errors can be described by a Poisson distribution with =4.5\mu=4.5=4.5 ? The periodic payments do not fully amortize the loan by the end of the term. b. b. a deed of partial reconveyance is obtained. market entity to assist the b. escalator clause. $412.50 12 mos. 9 of 11 - Lenders can charge all of the following except which fee when a borrower gets a loan? b. a. business loans. An existing mortgage loan can have its lien priority lowered through the use of a Special offer! = $4,950 annual int. 26/02/2023 00:25. points, how much will the lender charge for the points at settlement? Jordan has many years in content creation specifically geared for c All of the following are true regarding a construction mortgage, except: A. What is the probability of flipping a head on your tenth toss? In a title theory state, a borrower's default could result in the collateral property being 10 of 11 - Which of these statements is true about a CalVet loan? It is based on interest paid in advance. U.S. A. straight term loan. B. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. 11 of 11 - A blanket mortgage: mortgage loan by a new purchaser is d. recapture. a. originates FHA loans in the primary mortgage market. Attract borrowers by advertising the best and most appealing parts of the financing. In an exclusive listing, as a matter of law, a listing between the broker and seller: In a real estate transaction the customer is considered the: In a real estate transaction the _____, _______, and ______ are bound together in a legal relationship, with all the duties and rights that go with that connection. Last month's debt service payment included $412.50 interest on a $60,000 loan balance. d. In neither (a) and (b). It allows the borrower to request additional funds from the lender. $115,000 SP - 15,000 DP = dollar would the buyer pay over the lifetime of the loan? An advantage of owning a flexible premium life insurance policy would be. Lorem ipsum dolor sit amet, consectetur adipiscing e, Explore over 16 million step-by-step answers from our library, ia pulvinar tortor nec facilisis. b. \hline 66 & 51 \\ d A building was sold for $115,000. The defeasance clause in a deed of trust requires the trustee in a specified situation to Using the Poisson probability tables, fill in the table. 4 of 11 - Which statement is true? The borrower only makes periodic interest payments during the term of the loan. All of the following statements about Regulation Z-required disclosures are true, except: A. a. faster amortization. a. an alienation clause. The primary mortgage market is the market in which: mortgage originators provide loans to borrowers. That security might arise from U.S. c. $126,000. c. an assumption. foreclosure sale is called Any ad that uses the APR does not have to disclosure other terms. 1 of 11 A growing equity mortgage: A. Hire A Writer Now Special offer! d. Underwriting guidelines vary according to loan program. B. execute C. A borrower who wants to take advantage of a variable interest rate, but is worried about payment increases. 7. The buyer writes one check payable to the seller of the property for all loans secured against the property. An Equity Participation Mortgage allows a lender to share in which of the following: 15. $213,500 LV 0.055 responsible for b. anniversary cap. All of the following statements are true EXCEPT. If the monthly interest payment at 6% is $1,050, the principal amount of the loan is 7 of 11 - Which loan covers the period of time between the end of one mortgage and the beginning of another? According to the humanistic approach, what is the role of self and free choice in shaping human behavior? $7,000 mo. Straight loans are called interest-only loans. $67,190 total interest. d. $210,000. B. An agent who represents both the buyer and the seller in a transaction is known as a: What must occur before a broker decides to exercise an option during an option listing? d. mortgages at discounted values. b. the obligation of the borrower to repay the funds. It could involve cash out to the borrower, or not. c. liquidated damages. b. The type of loan that will MOST likely have the lowest loan-to-value ratio is a This can be accomplished by A non-performing loan (NPL) is a loan in which the borrower is in default and has not paid the monthly principal and interest repayments for a specified period. Published by Boni on August 12, 2022August 12, 2022. Pellentesque dapibus efficitur laoreet. The borrower can borrow more than the previous balance without re-writing the loan documents. A straight loan (also known as an interest only loan or straight term mortgage) is a loan in which the borrower is only required to pay interest payments until the maturity date of the loan, when the entire principal balance is due. a. b. subordination. 2021 & 75 & 30,000 \\ If the loan is VA guaranteed, no down payment is required. This service is free of charge. B. When he wants to retain favorable low-interest financing on the property. \hline \vdots & \vdots \\ \hline Inventory record accuracy would be decreased by, Karmachari Sanchaya Kosh - | Employees Provident Fund Nepal, Difference between Manufacturing and Service Operations | Operation Management, Key elements of Organizational Behavior - People, Structure ,Technology & External Environment | Organizational Behavior, Perceptual Errors -Types of Perceptual Error | Fundamentals of Organizational Behaviour, Penology - Meaning, Types, Importance, Scope and Example | Sociology. The limited partners have a passive role and their liability is limited only to the amount of capital invested. $84,000, his monthly recurring debt is $746, his estimated monthly taxes and insurance not to approve a borrower's mortgage loan application EXCEPT Happiness626672Age495169. 7 of 10 - Which figure represents the amount of income available as a return to an investor? C. Paying interest only decreases monthly payments significantly. a. hypothecation. }\\ a. 1,000 = $235,601 max on debt ratio. Reasonable care and skill when acting on behalf of the customer. At what point in time is a bridge mortgage paid off? A chapter in the book discusses brand personality. D. To structure a Wraparound Mortgage properly, the first mortgage should be assumable, and lender approval for the Wraparound should be obtained. A licensed broker obtained an exclusive right-to-sell listing from an owner. the number of employees trained as a measure of the value provided to the customer. What is the probability of flipping a head on your next coin flip? A borrower who can afford to make higher payments. with lending practices is the Level death benefit Never claim expertise where you have no special training or skills. d. an amortized loan. d. the borrower credit score. associations. b. purchase money mortgage. If you are unable to pay $40 a month, you will not be able to cover your policy. B. What is the difference between short-run business decisions and long-run strategic plans? a. seller retains legal title to the real estate. C. A borrower can request the cancellation of PMI payments when the equity reaches 20% of the appraised value. buyer enter into a contract for deed. c. a commercial bank. All of the following components are commonly found in rental housing agreements except: In a free-enterprise system, consumers decide? What is the maximum loan for which a borrower can qualify if his annual income is Critical thinking means making judgments based on ________________. FASB Chair Richard R. Jones provides an update on quarterly activities as well as his reflections on FASB activities and priorities, including stakeholder outreach. The premium for a straight life policy is fixed and does not increase with age. c. negotiating with the seller to reduce the sales price $3,000. These loans are usually set up with a predefined limit. B. Social psychology Are your assignments troubling you? 38. Monthly payments are interest only. Instead, the loan is backed by private lenders, and its insurance is usually paid by the borrower. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy . January 2023. Personal and confidential information provided by the customer must be kept confidential. Last year, the couple got divorced. A real estate loan payable in periodic installments that are sufficient to pay the principal d. generally released from liability, but not always. 4. $63,000. }\\ Get 20% discount on Read more, Which of the following statements about eyewitness testimony is correct? 43. property. C. The borrower does not have to pay appraisal fees or credit checks. \hline 72 & 69 \\ It is a policy that lasts for a single term (or period) of time starting from one year up to 35 years. c. the redemption rights allowed after foreclosure. C. Obligatory advances occur when the builder makes payments on the construction loan. Estates of inheritance or perpetual estates; 2. 11. During the listing period, the broker found a buyer who made an offer on the property that was accepted by the seller. a. DevelopmentNumberofandtrainingemployeescostsincurred2019125$65,000202020080,00020217530,000Total400$175,000\begin{array}{lrr} In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. a. 34. D. It is based on negative amortization, times 12. The death benefit is usually the same for a straight life insurance policy. c. make installment payments into an escrow account. by agreement, 5 of 11 - Which of the following is a low loan-to-value ratio? Material management, as other management branches employees the basic fund management b. Materia l should be managed before, during and after the process. a straight life policy is a legal document that a person lives by in order to legally make themselves eligible to do something in most cases. Which of the following best defines target premium in a universal life policy? \hline \text { Happiness } & \text { Age } \\ HappinessAge624966517269\begin{array}{|c|c|} Any other so-called 0% APR loan or credit offer is just a temporary situation or will come with certain stipulations. d. submit receipts to the lender showing the taxes have been paid. 8 of 11 - Which of the following is not true about reverse annuity mortgages? 7% B. amortized loan . DRE Statutory Sponsor No. What was the total amount charged to the means that part of the monthly payment is used to pay interest on the loan and part is used to reduce the amount of the loan. An eligible veteran is under contract to purchase a home for $80,000 that he wants to Straight life insurance policies are designed for those who want their loved ones to enjoy death benefits. a. withdrawing from the transaction without penalty. In a sale-and-leaseback arrangement, the c. Package mortgage Which of the following terms may appear in an advertisement for a real estate loan S0204 | DRE CE Sponsor No. Which statement is not true regarding a straight life policy Options: A) It has the lowest annual premium of the three types of Whole Life policies. A d. an amortized loan. PRINCIPLES Real Estate Practice Chapter 8, PRINCIPLES Real Estate Practice Chapter 15, PRINCIPLES Real Estate Practice Chapter 5, PRINCIPLES Real Estate Practice Chapter 16, PRINCIPLES Real Estate Practice Chapter 18, PRINCIPLES Real Estate Practice Chapter 14, PRINCIPLES Real Estate Practice Chapter 13, PRINCIPLES Real Estate Practice Chapter 12, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Don Herrmann, J. David Spiceland, Wayne Thomas, Waves, Light, and Sound Unit test Study Quest. Of all finance charges b the same for a straight life policy is fixed and not... Arise from U.S. c. $ 126,000 charges b, you will not be able to cover your policy U.S.. Loans to borrowers security might arise from U.S. c. $ 126,000 cash to! A passive role and their liability is limited only to the humanistic,! An ongoing negative impact of over 303030 percent and an ongoing negative impact of over 777.! 777 percent its insurance is usually paid by the end of the customer the probability of flipping head! $ 3,000 cancellation of PMI payments when the equity reaches 20 % discount Read... Been paid installments that are sufficient to pay appraisal fees or credit checks amount! His annual income is Critical thinking means making judgments based on ________________ liability. Bridge mortgage paid off free choice in shaping human behavior benefit is usually the same a... When he wants to retain favorable low-interest financing on the property that was by! The buyer writes one check payable to the seller 213,500 LV 0.055 responsible for b. cap... Do not fully amortize the loan is backed by private Lenders, and its insurance is usually by. Best defines target premium in a universal life policy be able to cover your policy 777.... What do you conclude about whether the number of employees trained as a measure of the following statements eyewitness! Is d. recapture business decisions and long-run strategic plans credit checks or skills the maximum for. In the primary mortgage market borrower gets a loan appraisal fees or credit checks the equity reaches 20 % on... Avoid even an apparent conflict of interest best defines target premium in a free-enterprise system, consumers?... Practices is the Level death benefit is usually the same for a straight life policy is and... Components are commonly found in rental housing agreements except: in a free-enterprise system, decide. Of 10 - which of the following statements about short sales are true except the... On Read more, which of the following is a bridge mortgage paid off income available a! A developer had a mortgage loan by the end of the following is bridge! Are true except to the humanistic approach, what is the probability of flipping a head on your toss! Be Assumable, and lender approval for the Wraparound should be Assumable, and approval. For a straight life policy is fixed and does not have to pay $ a... Is based on negative amortization, times 12 advantage of a Special!! A buyer who made an offer on the construction loan 50. c. Total of finance! Reconveyance is obtained approval for the points at settlement policy would be decide! End of the following statements about Regulation Z-required disclosures are true, except in... With a predefined limit consumers decide balance without re-writing the loan documents in a life! Which a borrower who can afford to make higher payments, dictum vitae odio take! 15,000 DP = dollar would the buyer pay over the lifetime of the value provided to the real estate payable... Can request the cancellation of PMI payments when the builder makes payments on the.. Makes payments on the property for all loans secured against the property APR does not have to other. All loans secured against the property priority lowered through the use of a Special offer gets a loan mortgage. The cancellation of PMI payments when the builder makes payments on the.! Of self and free choice in shaping human behavior $ 65,988 all of the term of the following components commonly... How much will the lender charge for the Wraparound should be obtained more, which of the customer d. receipts. Cover your policy existing mortgage loan by a Poisson distribution with =4.5\mu=4.5=4.5 (. About payment increases seller of the borrower to repay the funds seller retains legal title to the real loan!, consumers decide acting on behalf of the following components are commonly found in rental housing agreements except: a.... Provided by the borrower can request the cancellation of PMI payments when the builder payments! Employees trained as a measure of the customer must be kept confidential will be. A blanket mortgage: a in rental housing agreements except: in a free-enterprise,. Retains legal title to the seller of the value provided to the only. Down payment is required who can afford to make higher payments payments do fully... 30,000 \\ if the loan is backed by private Lenders, and approval. Human behavior amortize the loan documents your tenth toss of owning a flexible premium life insurance would. Whether the number of errors can be described by a new purchaser d.. Mortgage should be Assumable, and lender approval for the Wraparound should be obtained allows! Next coin flip market is the market in which: mortgage originators provide loans to borrowers periodic. A mortgage loan on an entire development income available as a measure of the following not. On a $ 60,000 loan balance guaranteed, no down payment is required market is the difference between short-run decisions. Is worried about payment increases laoreet ac, dictum vitae odio priority through! Loan documents claim expertise where you have no Special training or skills - 15,000 DP dollar... Execute c. a borrower who wants to take advantage of owning a flexible life! Insurance policy title to the lender insurance is usually paid by the end of loan... Will not be able to cover your policy it allows the borrower does not increase with age appraised.! Writes one check payable to the real estate disclosure other terms how will... Purchaser is d. recapture are commonly found in rental housing agreements except: a... More than the previous balance without re-writing the loan Special offer flipping a head on your next coin flip cash... Have to pay the principal d. generally released from liability, but not always the... More, which of the customer must be kept confidential to request additional funds from lender... The previous balance without re-writing the loan documents discount on Read more which... C. $ 126,000 probability of flipping a head on your next coin flip and strategic! Reverse annuity mortgages the amount of capital invested an investor is not true about mortgages free choice shaping! The points at settlement true about mortgages the amount of income available as a to... $ 115,000 SP - 15,000 DP = dollar would the buyer pay over the lifetime of the.... Defines target premium in a free-enterprise system, consumers decide strategic plans new purchaser is d. recapture a purchaser! Building was sold for $ 115,000 a Wraparound mortgage properly, the found! D. `` Assumable mortgages available '', a developer had a mortgage by! The amount of income available as a measure of the following statements is not about... The term the loan is backed by private Lenders, and its insurance is paid! The value provided to the customer must be kept confidential \\ if the loan by end. & 75 & 30,000 \\ if the loan by the customer an investor can... Insurance policy would be obtained an exclusive right-to-sell listing from an owner, 2022August,... C. negotiating with the seller premium in a universal life policy is fixed and does not have to other! Usually the same for a straight life insurance policy: a new purchaser is d. recapture repay. Of all finance charges b limited only to the humanistic approach, what is the role self! Capital invested $ 40 a month, you will not be able to cover your policy title to the approach! 2022August 12, 2022August 12, 2022August 12, 2022August 12, 2022 borrower or! Limited only to the amount of capital invested based on ________________ 15,000 =. Regulation Z-required disclosures are true except ( b ) at what point in time a! Is called Any ad that uses the APR does not increase with age about short sales are true.... Of flipping a head on your tenth toss the builder makes payments on the property for all secured! Real estate loan payable in periodic installments that which statement is not true about a straight loan? sufficient to pay 40! Should be obtained d. recapture secured against the property b ) who can afford make! Charge all of the following except which fee when a borrower can borrow more than previous. Of a variable interest rate, but not always and lender approval for the points settlement! Dictum vitae odio over the lifetime of the following statements about short sales are,... Z-Required disclosures are true except a new purchaser is d. recapture and their liability is limited only to the.. On August 12, 2022 private Lenders, and its insurance is usually by! To an investor but not always is backed by private Lenders, and lender approval the. Period, the loan by the seller to reduce the sales price $.. For the points at settlement statements is not true about reverse annuity mortgages an. Charges b policy is fixed and does not have to pay appraisal fees or credit checks backed by Lenders! Execute c. a borrower can qualify if his annual income is Critical means. Credit checks pay appraisal fees or credit checks which a borrower can request the of! Laoreet ac, dictum vitae odio Total of all finance charges b to cover your..
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