Home finance process quiz: trivia. People use different ways in order to buy a home but one that is available for most is using mortgage. Data quick is one of companies that offer these services at a favorable rate for its clients. Do take up the quiz below and get to see just how much you know about the company and the services it offers for its clients. All the best as you tackle it!
To provide sufficient replacement costs in case of disaster.
To verify that the value of the house is sufficient to support the amount of the loan they are financing.
To determine the value of the loan should the loan be pooled on the secondary market.
To ensure the property is structurally sound.
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False
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Property inspections are completed and certified.
Lenders check borrowers credit history.
Housing price trends are evaluated for property value projections.
Flood maps are reviewed to determine if flood insurance is needed.
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True
False
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Cultivating
Farming
Nuturing
Campaigning
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Licensed Appraisals
Broker Price Opinions
Automated Valuation Models (AVM)
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Closing Documents
Certified Signing Agents
Disbursing Funds
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Issues insurance to defend against litigation in ownership disputes.
Researches the ownership of properties.
Provides inspections to ensure the property is structually sound.
Works with the County Assessors office to provide tax status and delinquencies.
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Property characteristics (bedrooms, bathrooms, square footage).
Recent sales comparables.
Geological survey results.
Flood maps.
Replacement cost calculations.
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Quiz Review Timeline (Updated): Mar 16, 2023 +
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