CRU MBA TEST EXAM 1 ACTUAL
EXAM QUESTIONS WITH COMPLETE
SOLUTION GUIDE (A+ GRADED 100%
VERIFIED) LATEST VERSION 2025!!
Save
Terms in this set (187)
1. Loan Production
Functions of
2. Funding, Warehousing, Shipping,
Mortgage
3. Secondary Marketing
Banking
4. Loan Administration
, **Origination and manufacturing of
loans
Origination - loan app is taken and
originated
Processing - manufacturing starts. All
information on the loan app is verified
Loan Production and necessary documentation is
collected
Underwriting - determine whether
lending risk is acceptable
Closing - preparation and delivery of
all legal documents to consummate
the loan with the borrower
, Funding - mortgage banker's act of
providing money for the loan
Warehousing - ensuring there is
enough funds through warehousing to
Funding,
close the loan
Warehousing,
Shipping
Shipping/QC - quality control
Shipping/Delivery - sending the full
loan file to the investor that is
purchasing the loan
-Finding and maintaining a product
mix to fit the mortgage banker's
business model
Secondary -Setting interest rates that a mortgage
Marketing banker will offer
-Negotiating loan purchase
commitments with investors
-Managing market risks
, -Receiving payments from borrowers
-Remitting funds received for P and I
to the investors
Loan -Managing the escrow account
Administration -Handling of administrative functions
relative to loan payoffs, assumptions,
loss mitigations, foreclosures
-Responding to customer inquiries
Refers to companies that fund the
loans at closing and service the loans
Mortgage Banker after closing. Bankers may either sell
the loans on the secondary market or
keep them in portfolio (less common)
specialized type of mortgage banker
whose function is limited to the
Correspondent production of mortgage loans that
are then sold to other mortgage
bankers under a specific commitment.
lender who specializes in the
purchase and servicing of mortgages
obtained from other mortgage
origination entities, such as brokers,
Wholesaler
correspondents, thrifts, credit unions,
or commercial banks. They generally
sell the loans on the secondary
market
EXAM QUESTIONS WITH COMPLETE
SOLUTION GUIDE (A+ GRADED 100%
VERIFIED) LATEST VERSION 2025!!
Save
Terms in this set (187)
1. Loan Production
Functions of
2. Funding, Warehousing, Shipping,
Mortgage
3. Secondary Marketing
Banking
4. Loan Administration
, **Origination and manufacturing of
loans
Origination - loan app is taken and
originated
Processing - manufacturing starts. All
information on the loan app is verified
Loan Production and necessary documentation is
collected
Underwriting - determine whether
lending risk is acceptable
Closing - preparation and delivery of
all legal documents to consummate
the loan with the borrower
, Funding - mortgage banker's act of
providing money for the loan
Warehousing - ensuring there is
enough funds through warehousing to
Funding,
close the loan
Warehousing,
Shipping
Shipping/QC - quality control
Shipping/Delivery - sending the full
loan file to the investor that is
purchasing the loan
-Finding and maintaining a product
mix to fit the mortgage banker's
business model
Secondary -Setting interest rates that a mortgage
Marketing banker will offer
-Negotiating loan purchase
commitments with investors
-Managing market risks
, -Receiving payments from borrowers
-Remitting funds received for P and I
to the investors
Loan -Managing the escrow account
Administration -Handling of administrative functions
relative to loan payoffs, assumptions,
loss mitigations, foreclosures
-Responding to customer inquiries
Refers to companies that fund the
loans at closing and service the loans
Mortgage Banker after closing. Bankers may either sell
the loans on the secondary market or
keep them in portfolio (less common)
specialized type of mortgage banker
whose function is limited to the
Correspondent production of mortgage loans that
are then sold to other mortgage
bankers under a specific commitment.
lender who specializes in the
purchase and servicing of mortgages
obtained from other mortgage
origination entities, such as brokers,
Wholesaler
correspondents, thrifts, credit unions,
or commercial banks. They generally
sell the loans on the secondary
market
