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
slava [35]
3 years ago
11

Make a list of at least three items that are important to double check before submitting a loan application to underwriting. Lis

t at least two things you would be sure to tell a borrower in preparation for closing. List at least three calculations that are typically used during the course of a mortgage loan transaction.
Business
1 answer:
xxMikexx [17]3 years ago
3 0

Answer:

Please see answers below.

Explanation:

A. Three important Items to double check before submitting a loan application to underwriting.

• Completeness of data : One has to be sure that all important details are captured hence none is left out. It means that there are no missing information on the application.

• Calculations performed accurately: This means that calculations such as borrower's income, qualifying ratios are calculated accurately and also double checked for the purpose of the loan underwriting.

• Documentations required by the loan programme. All Documentations required by the loan programme must be double checked before submitting a loan application to underwriting.

B. List at least two things you would be sure to tell a borrower in preparation for closing

• I will seek clarity in terms of the money borrower would be bringing to the closing table.

• The date,time,venue of closing are essential for the closing hence will be communicated to the borrower. Also, there are no right or wrong answers that may be asked or given by the borrower during the closing.

C. List at least three calculations that are typically used during the course of mortgage loan transaction.

• Income calculation

• Front end and back end ratio (DTI ratio)

• Monthly payment.

You might be interested in
When a customer does not understand his or her role in the service delivery process, he or she is contributing to provider:_____
katen-ka-za [31]

When a customer does not understand his or her role in the service delivery process, he or she is contributing to provider: Gap 3

<h3>What is the Gap 3?</h3>

Gap 3 : The chasm between service quality requirements and actual service provision

The service members may encounter situations that cause this gap. It could happen as a result of poor training, inability, or reluctance to uphold the required service standards. It could result from ineffective evaluation and compensation systems. This disparity is primarily due to ineffective recruitment.

This gap may be caused by a failure to balance supply and demand. Also lacking are context, perceived control, and empowerment. An illustration would be a restaurant that communicates highly stringent criteria for the food it serves, but the personnel might not receive the right training on how to adhere to those standards.

To know more about gap 3 visit:

brainly.com/question/15411678

#SPJ4

6 0
1 year ago
Floor drains are rapidly becoming extinct in the United States because they: A) Cause slips and trips B) Are too expensive to in
uranmaximum [27]

I believe the answer is D

7 0
3 years ago
On April 1, 2013, Four Seasons Landscaping, LLC purchased new lawn mowers for $70,000 in cash (total cost). They have a useful l
creativ13 [48]

Answer:

Please see the calculation explanation below and the depreciation expense chart for all methods is attached.

Explanation:

1. STRAIGHT-LINE DEPRECIATION METHOD:

<em>Depreciation Expense = (Total Cost - Residual Value) / Useful Life </em>

Depreciation Expense = ($70,000 - $10,000) / 3 years

Depreciation Expense = $60,000 / 3 years

Depreciation Expense = $20,000 per year

2. DOUBLE DECLINING BALANCE DEPRECIATION METHOD:

<em>Depreciation Expense Rate = (100% / Useful Life) x 2 </em>

Depreciation Expense Rate = (100% / 3) x 2

Depreciation Expense Rate = 66.67%

<em>2013: </em>

Depreciation Expense = $70,000 x 66.67% = $46,667

<em>2014: </em>

Depreciation Expense = ($70,000 - $46,667) x 66.67% = $15,556

Since the residual value is $10,000 and as per Double Declining Balance Method, the point at which Book Value is equal to the residual value, no depreciation is taken.

<em>Depreciation Expense = (Total Cost - Residual Value) - (Accumulated Depreciation) </em>

Depreciation Expense = ($70,000 - $10,000) - ($46,667)  

Depreciation Expense = $13,333

<em>2015: </em>

No Depreciation Expense for year 3, as Book value is already equal to residual value in year 2.

3. PER HOUR DEPRECIATION METHOD:

<em>2013:</em><em> </em>

<em>Depreciation Cost per hour = (Engine Hours in 2013 / Total Engine Hours) x (Total Cost - Residual Value) </em>

Depreciation Cost per hour = (500 / 1,200) x ($70,000 - $10,000)

Depreciation Cost per hour = $25,000

<em>2014: </em>

<em>Depreciation Cost per hour = (Engine Hours in 2014 / Total Engine Hours) x (Total Cost - Residual Value) </em>

Depreciation Cost per hour = (400 / 1,200) x ($70,000 - $10,000)

Depreciation Cost per hour = $20,000

<em>2015: </em>

<em>Depreciation Cost per hour = (Engine Hours in 2015 / Total Engine Hours) x (Total Cost - Residual Value) </em>

Depreciation Cost per hour = (300 / 1,200) x ($70,000 - $10,000)

Depreciation Cost per hour = $15,000

6 0
3 years ago
Tasteequik Food markets one line of food products to consumers looking for meals that are very simple and quick to prepare. Tast
Stolb23 [73]

Answer:

Letter A is correct. <u>Benefit segmentation.</u>

Explanation:

Benefit segmentation is a marketing strategy that consists of dividing your audience according to the benefits or advantages perceived by the consumer when purchasing a product or service. Segmentation can occur according to various variables such as performance, customer service, special features, quality, and more.

There are several benefits added to this benefit segmentation strategy, especially the conversion of interest in the product or service into new customers, as well as customer retention and satisfaction.

To be successful and achieve the benefits described, segmentation must be designed and targeted to create marketing and advertising that engages the customer and assists in building brand value.

4 0
3 years ago
Consider luxury weekend hotel packages in Las Vegas. When the price is $250, the quantity demanded is 2,000packages per week. Wh
konstantin123 [22]

Answer:

The elasticity is about 1.43, and an increase in the price will cause hotels' total revenue to decrease

Explanation:

The formula of the midpoint for the variation of the quantity is  \frac{Q2-Q1}{(Q2+Q1)/2} *100 and for the price is \frac{P2-P1}{(P2+P1)/2} *100. With the variation of the price and the quantity the elasticity formula is ΔQ/ΔP. Replacing the elasticity is -1.43

The price elasticity of the demand is bigger than 1, that means that the demand is elastic, every increase of the price will cause a bigger decrease of the quantity, the revenue will drop because the increase of the price do not compansete the decrease of the quantity.

6 0
3 years ago
Other questions:
  • Help with Wuestion 5 please
    10·1 answer
  • Companies generate income from their "regular" operations and from things like interest on securities they hold, which is called
    14·1 answer
  • Carrie works at a canned food production factory. The government wanted to give a boost to the salt industry, so it lined up num
    10·1 answer
  • sold real property with a $140,000 adjusted basis for $255,000. The buyer paid $148,000 cash and assumed Mr. Beck's $107,000 mor
    11·1 answer
  • After spending a summer "down under," two Oregon friends, Rick and Mick, created a general partnership to import emu from Austra
    13·1 answer
  • The following additional details are provided for the​ year: Direct materials placed in production $ 81 comma 500 Direct labor i
    8·1 answer
  • A manager states that his process is really working well. Out of the 300,000 parts produced last week, inspections identified 15
    11·1 answer
  • Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of al
    5·1 answer
  • Who is the founder of royal crown hotel ??
    11·1 answer
  • a tech company decides to pay dividends to shareholders out of its net earnings. this will decrease its
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!