Champion School Of Real Estate

CHAMPION SCHOOL OF REAL ESTATE EXAM ALL QUESTIONS WITH 100% CORRECT ANSWERS....

Champion School of Real Estate-Law of Contracts with Correct Answers 2024 Texas Real Estate Commission - Answer -TREC-created by the Legislature in 1949. 9 member commission whose primary purpose is to carry out the provision of the License Act Real Estate Recovery Trust Account - Answer -administered by TREC. the purpose of the account is to protect aggrieved individuals who suffer monetary loss due to illegal acts of license holders unlawful practice of law - Answer -license holder is no...

CHAMPION SCHOOL OF REAL ESTATE

An area of neighborhoods or subdivisions that is serviced by your firm. - ANS Geographic Farm A plan by which you develop to gain name recognition - ANS Marketing Plan Becoming different in your approach through growth and development - ANS differentiate All the properties in a particular price range, in the area your firm services - ANS economic farm Words or content by which top producers are using to be successful. - ANS hot buttons Building ________________...

Loan processing - ANS The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision Underwriting - ANS The process of evaluating a borrowers loan application to determine the risk involved for the lender Funding - ANS The process of transferring funds to a title or escrow company for disbursement Servicing - ANS Sending monthly payment statements and collecting monthly payments maintaining payment ...

_____ is the consummation of a contractual real estate transaction in which all appropriate documents are signed, and the mortgage loan proceeds are disbursed by the lender. - ANS Closing The primary determinants of real estate values are supply and _____. - ANS Demand _____ is something of value that can be pledged as security for repayment of a loan. - ANS Collateral Servicing includes which of the following activities? - ANS Maintaining records of payment The monet...

Brokerage - ANS The aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction Property Managers are generally responsible for the following - ANS Day to Day operations, Maintenance and Tenant Relations RMLO - ANS Mortgage Brokers are known as NAR - ANS The largest trade organization representing real estate professionals is Value - ANS A fair return or equivalent in goods, services, or money for something ...

RMLO - ANS Residential Mortgage Loan Originator Riparian Rights - ANS Unrestricted rights granted to owners of land located along the course of a river or stream. Littoral Rights - ANS Unrestricted rights granted to owners whose land borders oceans and large, navigable lakes that have a tide. Fannie Mae (FNMA) 1938 - ANS The Federal National Mortgage Association, which is a congressionally chartered, shareholder-owned company that is the nation's largest supplier of h...

Mortgage loan originators who make cold calls must comply with the requirements of the National Do-NotCall registry and the Do-Not-Call rules. The loan originator needs to update any download of the registry at least every: - ANS 31 days The appraisal approach that is used as the best indicator of value for existing properties is - ANS market data approach The Equal Credit Opportunity Act, is implemented by the CFPB's: - ANS regulation B FHA sellers are permitted to provi...

Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies. - ANS Servicing The process of creating a new mortgage loan - ANS Origination The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision - ANS Loan Processing The process of transferring funds to a title or escrow company for disbursement - ANS Funding The process o...