A10

Real Estate Finance Learning Activities: Module 10 Assignment Choose one of the following to complete Exercise #1: A: Get a copy of a closing disclosure document (blank or "blacked out" meaning without name(s) or identifying personal information). List AND explain each of the charges to the buyer, seller, and items prorated between them. That is three categories. You may be able to get a copy by contacting a local lender. If you cannot you may use the information contained in the text. B: Describe in detail the differences between and ALTA and a CLTA title insurance policy. Find a copy online or from a local title insurance company, read, and list a few exclusions and/or requirements by the owner or lender (insured party) as to what is required when a defect is discovered Exercise #2 Determine the following, explain your steps. As part of the loan closing does the lender need to collect any interest? If so, from whom? And if so, what amount? Given: Loan amount $450,000 Note rate: 4.250% Monthly P&I payment amount: $2,213.73 Loan First Payment due date: 7/1/2021 (pays interest 6/1 through 6/30) Loan close date: 5/16/2021 Real Estate Finance Learning Activities: Module 10 Assignment Choose one of the following to complete Exercise #1: A: Get a copy of a closing disclosure document (blank or "blacked out" meaning without name(s) or identifying personal information). List AND explain each of the charges to the buyer, seller, and items prorated between them. That is three categories. You may be able to get a copy by contacting a local lender. If you cannot you may use the information contained in the text. B: Describe in detail the differences between and ALTA and a CLTA title insurance policy. Find a copy online or from a local title insurance company, read, and list a few exclusions and/or requirements by the owner or lender (insured party) as to what is required when a defect is discovered Exercise #2 Determine the following, explain your steps. As part of the loan closing does the lender need to collect any interest? If so, from whom? And if so, what amount? Given: Loan amount $450,000 Note rate: 4.250% Monthly P&I payment amount: $2,213.73 Loan First Payment due date: 7/1/2021 (pays interest 6/1 through 6/30) Loan close date: 5/16/2021