Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is the main goal of the speaker when refinancing a loan?
What is the main goal of the speaker when refinancing a loan?
- To save the borrower money (correct)
- To increase the interest rate
- To maintain a long-term relationship
- To charge high closing costs
According to Tim Braheem, why did he NOT do no points, no fees loans for people on purchases?
According to Tim Braheem, why did he NOT do no points, no fees loans for people on purchases?
- He did not have control over the loan amounts for purchases.
- He did not have control over the real estate agents for purchases.
- He did not have control over the title company for purchases.
- He did not have control over the non-recurring closing costs for purchases. (correct)
Why do many originators make the mistake of having their clients pay fees and points on refinances?
Why do many originators make the mistake of having their clients pay fees and points on refinances?
- They are pressured by the market
- They want to make more money from their clients
- They believe it is the right thing to do (correct)
- They are not aware of the potential risks
When would it be the right time to pay fees and points on a loan?
When would it be the right time to pay fees and points on a loan?
Signup and view all the answers
What did the speaker do when mortgage backed securities were rallying hard?
What did the speaker do when mortgage backed securities were rallying hard?
Signup and view all the answers
Flashcards are hidden until you start studying
