An escrow account:
A) Ensures that a default insurance policy does not lapse if a borrower is in danger of default
B) Ensures that sufficient funds are collected to make annual hazard insurance and property tax payments
C) Is a non-interest-bearing account into which a borrower prepays certain fees and taxes
D) All of the above
Correct Answer:
Verified
Q22: A conforming loan:
A)Exceeds the loan limits of
Q23: Payment to income ratio is BEST described
Q24: RESPA requires lenders to disclose to buyers
Q25: Which of the following is NOT one
Q26: A self-employed borrower who has documentable assets
Q28: What document usually summarizes the sources,disbursements,charges and
Q29: The APR estimate must be accurate to
Q30: A jumbo loan:
A)Is another term for an
Q31: GSE is the abbreviation for:
A)Government-sponsored entity
B)Government-specific entity
C)Government-sponsored
Q32: Which of the following is typically NOT
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