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drek231 [11]
3 years ago
13

Traditional home mortgage underwriting is said to rest on three elements, the "three C's." The housing expense ratio is one tool

that lenders will use to address concerns associated with which of the "three C's"?
a) collateral
b) creditworthiness
c) capacity
d) capability
Business
1 answer:
Tresset [83]3 years ago
3 0

Answer:

The three C's are Collateral, Creditworthiness, Capacity

Explanation:

The underwriters take a risk to loan you for the mortgage for this purpose they need to verify your paperwork so as to determine your eligibility to get a mortgage, which is based on;

  1. Creditworthiness: It is your credit score and your account and payment history. It also includes your previous loans and purchases.
  2. Capacity: It is a check on your ability to repay the loan. It is basically a debt-to-income ratio. The lender goes through your salary, income, expenditure and debts to confirm that you can actually repay the loan.
  3. Collateral: Literally it means an asset of the borrower kept by the lender as a security of safe return of the loan. in case of house mortgage collateral is mostly 20% down payment of the mortgage being received. If the borrower fails to repay the loan the lender seizes collateral to recover the loss.
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On-the job training.

Explanation:

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3 years ago
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joja [24]

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The adjusted trial balance of Lopez Company shows the following data pertaining to sales at the end of its fiscal year, October
Oksana_A [137]

Answer:

A) Prepare the revenues section of the income statement.

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         Income Statement for the year ended MM DD, YY

Sales Revenue                              $852,850

-Sales Returns and Allowances   $24,030

-Sales Discounts                          <u> $12,760 </u>

= Net Sales                                   <u>$816,060</u>

B) Prepare separate closing entries for

(1) sales

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Sales                                            $852,850

Income Summary                                               $852,850

(2) the contra accounts to sales.

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Income Summary                        $36,736

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3 years ago
when firms manage the return of goods from consumers either because they are defective or for recycling purposes, they are invol
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This is further explained below.

<h3>What is <u>a product</u>?</h3>

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