Podcast
Questions and Answers
What is Rachel Boone's Social Security Number?
What is Rachel Boone's Social Security Number?
244-75-7808
What is Rachel Boone's Marital Status?
What is Rachel Boone's Marital Status?
How long has Rachel Boone been at her current address? (Years and Months)
How long has Rachel Boone been at her current address? (Years and Months)
0 Years 3 Months
Rachel Boone is applying for individual credit. (True/False)
Rachel Boone is applying for individual credit. (True/False)
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What is the type of mortgage loan applied for?
What is the type of mortgage loan applied for?
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What is the note rate?
What is the note rate?
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What is the loan term?
What is the loan term?
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Is the loan a first mortgage?
Is the loan a first mortgage?
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What is the proposed monthly payment for the property?
What is the proposed monthly payment for the property?
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What is the amortization type?
What is the amortization type?
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What is the borrower's name?
What is the borrower's name?
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What is the lender's name?
What is the lender's name?
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What is the total due from the borrower?
What is the total due from the borrower?
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What is the loan amount excluding financed mortgage insurance?
What is the loan amount excluding financed mortgage insurance?
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Has the borrower declared bankruptcy within the past 7 years?
Has the borrower declared bankruptcy within the past 7 years?
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If bankruptcy was declared, what type(s) of bankruptcy were identified? (Select all that apply)
If bankruptcy was declared, what type(s) of bankruptcy were identified? (Select all that apply)
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What legal obligations does the borrower acknowledge when signing the application?
What legal obligations does the borrower acknowledge when signing the application?
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Any intentional misrepresentation of information may result in criminal penalties under Federal law.
Any intentional misrepresentation of information may result in criminal penalties under Federal law.
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Late payments, missed payments, or other defaults on the borrower's account may be reflected in their _ report.
Late payments, missed payments, or other defaults on the borrower's account may be reflected in their _ report.
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Study Notes
Here are the study notes in bullet points:
Uniform Residential Loan Application
- The application is for a loan with Atlantic Bay Mortgage Group, LLC, with a loan number and Universal Loan Identifier
- The borrower's name is Rachel W Boone
Section 1: Borrower Information
- Personal information:
- Social Security Number: 244-75-7808
- Name: Rachel W Boone (with alternate names listed)
- Date of birth: 04/13/1993
- Citizenship: U.S. Citizen
- Marital status: Married
- Dependents: 2 children, ages 6 and 2
- Contact information:
- Home phone: (828) 442-2312
- Cell phone: (828) 442-2312
- Work phone: (828) 431-5600 ext.
- Email: [email protected]
- Current and former addresses:
- Current address: 172 Patrick Murphy Dr Unit 28, Morganton, NC 28655
- Former address: 307 Blue Ridge Drive South #Unit 7, Marion, NC 28752
Section 1b: Current Employment/Self-Employment and Income
- Employer: Charles George VA Medical Center
- Position: PA
- Start date: 01/02/2024
- Monthly income: $11,769.33
Section 2: Financial Information - Assets and Liabilities
- Assets:
- Bank accounts: $62,632.96
- Proceeds from real estate property to be sold on or before closing: $1,000.00
- Liabilities:
- Installment debts: multiple debts with various balances and monthly payments
- Revolving debts: two debts with balances and monthly payments
Section 3: Financial Information - Real Estate
- The borrower does not own any real estate
Section 4: Loan and Property Information
- Loan amount: $295,200.00
- Loan purpose: Primary residence
- Property address: 776 Cannon Road, Marion, NC
- Property value: $328,000.00
Section 5: Declarations
- The borrower will occupy the property as their primary residence
- The borrower has not had an ownership interest in another property in the last three years
- The borrower is not borrowing any money for this real estate transaction
- The borrower has not applied for any new credit on or before closing this loan
Section 6: Acknowledgments and Agreements
- The borrower agrees to provide true, accurate, and complete information
- The borrower acknowledges that the lender and other loan participants may rely on the information contained in the application
- The borrower agrees to the terms and conditions of the loan
Section 7: Military Service
- The borrower has not served, or is not currently serving, in the United States Armed Forces
Section 8: Demographic Information
-
The borrower's ethnicity, sex, and race are not specified### Loan Application Information
-
The loan application is for Rachel W Boone, with a Uniform Residential Loan Application (Freddie Mac Form 65, Fannie Mae Form 1003) effective 1/2021.
-
The lender is Atlantic Bay Mortgage Group, L.L.C., with a license number of L-111843 and NMLS number of 72043.
Loan Originator Information
- The loan originator organization is Atlantic Bay Mortgage Group, L.L.C., with an address of 600 Lynnhaven Parkway, Suite 100, Virginia Beach, VA 23452.
- The loan originator is Aimi O Annas, with an NMLS ID of 430333 and a state license ID of I-164098.
- The loan originator's email is [email protected], and their phone number is (828) 559-9244.
Property and Loan Information
- The property is in a community property state.
- The refinance type is No Cash Out.
- The refinance program is Full Documentation.
- The transaction detail is Conversion of Contract for Deed or Land Contract.
Title Information
- The title to the property will be held in the name of Rachel W Boone and Andrew M Boone.
- The title will not be held by an Inter Vivos (Living) Trust or Land Trust.
Mortgage Loan Information
- The mortgage type applied for is Conventional.
- The mortgage lien type is First Mortgage.
- The amortization type is Fixed Rate.
- The proposed monthly payment for the property is not specified.
Loan Features
- The loan has no balloon, interest-only, or negative amortization features.
- There is no prepayment penalty.
- There is no temporary interest rate buydown.
Loan Costs and Credits
- The total minimum required funds or cash back is $338,813.49.
- The total borrower closing costs, including prepaid and initial escrow payments, are $6,599.49.
- The total discount points are $2,214.00.
- The total due from the borrower is $338,813.49.
- The loan amount, excluding financed mortgage insurance, is $295,200.00.
- The total mortgage loans, including financed mortgage insurance, are $295,200.00.
- The total credits, including seller credits and other credits, are $2,655.00.
- The cash from/to the borrower is $40,958.49.
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Description
Test your knowledge on the Uniform Residential Loan Application, specifically the borrower information section, including personal details and loan specifics.
