1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mariana [72]
4 years ago
8

When qualifying a buyer using the Fannie Mae guidelines, what is the ratio allowed for the amount of money for housing expense c

ompared to GMI
Business
1 answer:
vfiekz [6]4 years ago
8 0

Answer:

28%

Explanation:

Most mortgage lenders, including Fannie Mae, use the 28/36 rule. That rule states that a family should spend no more than 28% of the gross monthly income (GMI) on housing expenses, and pay no more than 36% of GMI to cover debts (mortgage payments are included in this 36%).

Statistics show that households that do not comply with the 28/36 rule, tend to have difficulty paying back loans.

You might be interested in
After a recent study showed significant benefits to the use of public transportation, government officials have hired your consu
Umnica [9.8K]
<span>In function of the good service that must have in public transport and the welfare for the citizens another suggestion and possible resource that can be taken in this respect is to combine those initial ideas in function of the efficiency that these decisions provide. Reduce the price, you can decrease the income for maintenance, therefore you can freeze for time. Increasing the price may lead to rejection by users and an impact on their economy, however, it must be increased at a reasonable time. The monthly and annual passes are part of a balanced idea. In view of the acceptance of users there is more demand therefore the third idea must be complemented and offer passages of reduction of prices per trip that do not affect both economies of companies and users.</span>
6 0
3 years ago
Which of the following is a substantive culture-changing action that a company's managers can undertake to alter a problem cultu
adelina 88 [10]

Answer:

B. Revise policies and procedures in ways that will help drive cultural change and replace senior executives who are resisting and obstructing needed organizational and cultural changes.

Explanation:

Culture of a company are the accepted ways of doing things on a daily basis with a view of achieving organisational goals. It includes the way employees interact with one another and their customers, procedures carrying out tasks, and so on.

The management of the company are the drivers of company culture, so a substantiative culture-changing action that can be taken to solve a problem culture will include replacing senior executives who are resisting and obstructing needed organizational and cultural changes, and revising policies and procedures in a way that will drive culture change

6 0
4 years ago
Part of Jose's company's business plan involves setting up a foreign subsidiary. This arrangement involves ________. a. minimum
eduard

Answer:

d. directly investing in a foreign country

Explanation:

A subsidiary is a firm that is wholly or partially owned by another bigger corporation. A foreign subsidiary is a business owned by another company whose headquarters are in a different country. The foreign subsidiary is formed and managed as per the laws of the country in which it operates.

A corporation establishing a foreign subsidiary will be directly investing in another country. Foreign direct investment is an investment performed by an entity in one country into business interests located in another country. Jose's company will acquire a business, and its assets be located in a foreign country.

6 0
4 years ago
The police chief is meeting with some citizens in his community, where he will discuss the police department's positive service
Margaret [11]
The success of his organization is measured by ITS EFFECTIVENESS.
The police department is usually rated by the public based on the physical results which can be seen and measured. For example, the police department will be rated effective if the number of crimes reduced drastically in a city in a particular period.
3 0
4 years ago
Zortek Corp. budgets production of 380 units in January and 270 units in February. Each finished unit requires four pounds of ra
SOVA2 [1]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Zortek Corp. budgets production of 380 units in January and 270 units in February. Each finished unit requires four pounds of raw material Z, which costs $3 per pound. Each month’s ending inventory of raw materials should be 50% of the following month’s budgeted production. The January 1 raw materials inventory has 190 pounds of Z.

Prouction January= 380 units*4 pounds= 1520 punds

Production Febreaury= (270*4pounds)/2= 540 pounds

Initial inventory= 190 pounds (-)

Purchase= 1870 pounds

3 0
3 years ago
Other questions:
  • Which one of the following transactions occurred in the primary market?
    14·1 answer
  • The automobile industry is dominated by a small number of very large producers who sell a differentiated product. The market str
    6·1 answer
  • Barbara Muller Services (BMS) pays its employees monthly. The payroll information listed below is for January 2021, the first mo
    15·1 answer
  • Phishing is looking for and reporting online scams.<br><br> True or <br> False
    15·2 answers
  • Wexler Corporation has established a new policy on employee e-mails. The policy reads: "All e-mail sent using the company server
    8·1 answer
  • The income statement for the Carolina Service Company for the year ended December 31, 2017, appears below. Sales revenue $670,00
    12·1 answer
  • Read the scenario. Marc just turned 16 and is looking to purchase a vehicle. The bank will grant him a loan under the condition
    11·1 answer
  • Suppose you have a fixed amount of income and spend equal amounts on two goods, X and Y. The price of good X is Px = $10, and th
    13·1 answer
  • Salge Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The variable overhead rate is $8.10 per direc
    8·1 answer
  • Identify which of the following statements is correct as to why accounting is important. Multiple choice question. We live in an
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!