TOP 2025 CHAMPIONS REAL ESTATE FINANCE EXAM WITH Q&A 100% GUARANTEED

TOP 2025 CHAMPIONS REAL ESTATE FINANCE EXAM WITH Q&A 100% GUARANTEED mortgage Broker - CORRECT ANSWER-Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - CORRECT ANSWER-Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - CORRECT ANSWER-Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - CORRECT ANSWER-The process of creating a new mortgage loan Underwriting - CORRECT ANSWER-Detailed process of evaluating a borrowers loan application to determine the risk involved for the lender Closing/Settlement - CORRECT ANSWER-Consummation of a contractual real estate transaction in which all appropriate documents are signed and the proceeds of the mortgage loan are then distributed by the lender Funding - CORRECT ANSWER-The process of transferring funds into a title or escrow company for disbursement Housing and Economic Recovery Act of 2008 (HERA) - CORRECT ANSWER-Designed to assist with recovery and revitalization of America's residential housing market SAFE Act (Secure & Fair Enforement of Mortgage Licensing Act) - CORRECT ANSWER-Sets a minimum standard for licensing and registering mortgage loan originators. M1 - CORRECT ANSWER-Sum of currency held by the public and transaction deposits at depository institutions M2 - CORRECT ANSWER-M1 plus savings accounts, certificates of deposit, and other liquid assets monetary policy - CORRECT ANSWER-Maintenance of a stable money supply that provides for growth in the economy while keeping inflation in check. Federal reserve is responsible for monetary policy fiscal policy - CORRECT ANSWER-Federal government spending. The Federal Reserve - CORRECT ANSWER-The central banking system of the United States Monetary inflation - CORRECT ANSWER-Excess of money supply in the market discount rate - CORRECT ANSWER-Interest rate a Reserve Bank charges eligible financial institutions to borrow funds on a short term basis. federal funds rate - CORRECT ANSWER-Is the rate that the federal reserve charges banks for unsecured loans most of which are for a very short term (sometimes overnight) banks use these to meet their liquidity requirements when withdrawals threaten to exceed cash on hand US Treasury - CORRECT ANSWER-Primarily responsible for raising funds to finance the operations of the US government. Management of fiscal policy Office of the Comptroller of the Currency (OCC) - CORRECT ANSWER-charters and regulates national banks US Mint - CORRECT ANSWER-Make US coins Department of housing and urban development (HUD 1965) - CORRECT ANSWER-Create strong sustainable inclusive communities and quality affordable homes. The Federal Housing Administration (FHA) - CORRECT ANSWER-Provides mortgage loans made by FHA approved lenders through the United States and its territories Community Development Block Grant (CDBG) - CORRECT ANSWER-Help communities with economic development, Job opportunities and housing rehabilitation Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 - CORRECT ANSWER-Promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "to big to fail" to protect the American taxpayer by ending bailouts to protect consumers from abusive financial services practices and other purposes