CRU MBA TEST EXAM 1 QUESTIONS WITH CORRECT SOLUTIONS RATED A

CRU MBA TEST EXAM 1 QUESTIONS WITH CORRECT SOLUTIONS RATED A
Question : Functions of Mortgage Banking
Correct answer: 1. Loan Production
2. Funding, Warehousing, Shipping,
3. Secondary Marketing
4. Loan Administration
Question : Loan Production
Correct answer: **Origination and manufacturing of
loans
Origination - loan app is taken and originated
Processing - manufacturing starts. All information on the
loan app is verified and necessary documentation is
collected
Underwriting - determine whether lending risk is
acceptable
Closing - preparation and delivery of all legal documents
to consummate the loan with the borrower

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