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kramer
3 years ago
5

Make a list of some typical documentation you would request from a loan applicant and/or the verifications you would perform?

Business
1 answer:
Fudgin [204]3 years ago
3 0

Answer:

a. Items that are important to double check before submitting a loan application to underwriting:

  • Personal ID Documents
  • Proof of Income
  • Personal Credit Bureau Report

b. Things you would be sure to tell a borrower in preparation for closing:

  • Proof of Property Ownership or Guarantee Pledge
  • Contact details of 2-3 relatives or guarantors

c. Calculations that are typically used during the course of a mortgage loan transaction:

  • Loan to Value ratio
  • Debt to Income ratio
  • House expense ratio

Explanation:

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Goods X and Y are complements. If the price of Good X decreases, this will cause a movement ________ the demand curve for Good X
notsponge [240]

Answer:

along, outward

Explanation:

Complementary goods are goods that complement each other in demand. An increase in quantity demanded of one product leads to increase in sand of the other.

For example tea and sugar. Since tea and sugar are taken together, an increase in demand for tea should result in increased demand for sugar also.

So a decrease in X above will lead to increased demand for X which also increase demand for its complement (Y).

An outward shift in Y means that at all prices Y's demand has increased (demand shift outward).

8 0
4 years ago
The end-of-period spreadsheet (work sheet) for the current year for Jamal Company shows Balance Sheet columns with a debit total
nika2105 [10]

Answer:

$63,620

Explanation:

Calculation to determine the amount of net income or net loss

Using this formula

Net income = Total debit - Total credit

Let plug in the formula

Net income=$570,210 -$506,590

Net income=$63,620

Therefore the amount of net income is $63,620

3 0
3 years ago
On September 1, a company established a petty cash fund of $230. On September 10, the petty cash fund was replenished when there
storchak [24]

Answer:

September 1, petty cash fund is established

Dr Petty cash fund 230

    Cr Cash 230

September 10, petty cash expenses

Dr Supplies expense 53

Dr Postage expense 80

Dr Cash short and over 16

    Cr Petty cash fund 149

September 10, petty cash is replenished

Dr Petty cash fund 149

    Cr Cash 149

September 15, petty cash fund in increased

Dr Petty cash fund 90

    Cr Cash 90

   

3 0
3 years ago
When cell phones were first entering the market, they were relatively large and reception was undependable. All cell phones were
vodomira [7]

As the products go on the market, the limitations in the induction cause them to be relatively homogeneous, however, over time, technological advances, product positioning, consumer needs and profits allow the market to lose homogeneity, especially those products that are related to very subjective and diverse criteria such as aesthetics or happiness.

In this case, what is shown in the cell phone market is the variation in the offer that occurred over time.

Answer

The history of the cell phone demonstrates that a. <em>Markets evolve toward greater heterogeneity over time.</em>

5 0
3 years ago
Maryam phoned her auto insurance agent to renew her policy. The agent told her about new types of insurance now available—to cov
Mars2501 [29]

Answer:

product development

Explanation:

Product development growth strategy  -

It is based on the modification of the existing product , so that they appear to be new and the development of the new products and then offering the product to the current or new market .

These types of strategy are adapted , when their is no scope of new opportunity foe the new company .

The strategy of product development is used in the question statement .

3 0
3 years ago
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