1
Q
loan servicing
A
-the administration of a loan from the time the money is borrowed until the loan is paid off
2
Q
loan servicing includes
A
-sending monthly payment statements
-collecting payments
-maintaining records and balances
-managing any escrow funds
-collecting and paying taxes
-forwarding net proceeds to the mortgage note holder
3
Q
PITI payment
A
-paying a portion of the annual insurance premium and real estate taxes each month along with the principal and interest due for the period
-held in an escrow account
4
Q
loan origination fee
A
-to pay for the administrative costs of processing the loan
-expressed as points; one point is 1% of the amount borrowed expressed in dollars
5
Q
discount points
A
6
Q
effective yield
A
-the rate actually received by the lender
Real Estate
flashcards
Decks in class (49)
# Cards
-
Chapter 127
-
Chapter 2: Real Estate License Law24
-
Chapter 7 Section 113
-
Chapter 7 Section 28
-
Chapter 7 Section 315
-
Chapter 7 Section 49
-
Chapter 8 Section 120
-
Chapter 8 Section 222
-
Chapter 8 Section 311
-
Chapter 8 Section 419
-
Chapter 9 Section 126
-
Chapter 9 Section 223
-
Chapter 9 Section 316
-
Chapter 9 Section 416
-
Chapter 9 Section 519
-
Chapter 10 Section 15
-
Chapter 10 Section 28
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Chapter 10 Section 33
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Chapter 10 Section 41
-
Chapter 11 Section 122
-
Chapter 11 Section 26
-
Chapter 11 Section 320
-
Chapter 11 Section 421
-
Chapter 11 Section 57
-
Chapter 12 Section 128
-
Chapter 12 Section 26
-
Chapter 12 Section 311
-
Chapter 12 Section 49
-
Chapter 13 Section 16
-
Chapter 13 Section 218
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Chapter 13 Section 318
-
Chapter 13 Section 49
-
Chapter 13 Section 521
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Chapter 13 Section 611
-
Substation Interview21
-
Chapter 14 Section 111
-
Chapter 14 Section 34
-
Chapter 14 Section 47
-
Chapter 14 Section 53
-
Chapter 15 Section 12
-
Chapter 15 Section 223
-
Chapter 15 Section 336
-
Chapter 16 Section 129
-
Chapter 16 Section 211
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Chapter 16 Section 314
-
Chapter 16 Section 420
-
Chapter 16 Section 516
-
Chapter 16 Section 612
-
Chapter 16 Section 74
