Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/15

Click to flip

15 Cards in this Set

  • Front
  • Back
The TERM of a Loan is
FIXED
The TERM of a line of Credit is
VARAIBLE
The Rate of a Loan is
FIXED
The Rate for a Line of Credit is
VARIABLE
The Payment amount for a Loan is generally
FIXED
The Payment for a Line of Credit is generally
VARIABLE
Disbursement for a Loan is generally
At Closing in a lump sum amount
Disbursement for a Line of Credit is generally
REVOLVING
LTV
Loan to Value Ratio- Loan amount divided by the collateral.
APR
Annual Percentage Rate- Always quote this for a Loan
APY
Annual Percentage Yield
APD
Automatic Payment Deduction - If taken customer gets .25 % deduction on the rate.
APD applies only to
Loan Products
What must be done anytime a loan has anything to do with a Home/residential dwelling.
HMDA information must be collected/completed.
HMDA ensures
Government moniters Banks to make sure their lending practices are fair.