what is conventional hwat course

What is conventional loan?

Conventional lending refers to mortgages that meet Fannie Mae and Freddie Mac underwriting standards. The uniformity of these mortgages allows lenders to package the loans into mortgage backed securities. A conventional loan can be a fixed or adjustable rate mortgage. Lesson.

What is private mortgage insurance?

Private Mortgage Insurance. If the property value is less than the mortgage balance the bank will lose money in a foreclosure. No bank wants to lose money. Private mortgage insurance (PMI) insures the lender from a loss in case of foreclosure.

What is loan to value ratio?

If foreclosure becomes necessary, the bank wants to ensure it has minimizes any loss. The loan-to-value ratio (LTV) is the proportion of the outstanding mortgage balance to the current value of the home.

Can a bank repossess a house?

Collateral is fairly straightforward. If the borrower can't or won't pay, the bank can repossess the house through foreclosure. Sometimes the house may not be worth enough as collateral, which is why lenders pay close attention to the loan-to-value ratio.

What is PMI in mortgage?

Private mortgage insurance (PMI) insures the lender from a loss in case of foreclosure. Conventional lending products require PMI if the loan-to-value is less than 80%. PMI is for the benefit of the lender. The only benefit is has for the borrower is it might be a deciding factor in whether or not the loan is approved.

Do Jen and Mike have a down payment?

Jen and Mike have saved up a down payment for the last few years and are finally ready to buy their first home. When they met with a loan officer, he told them they should consider conventional loans. They weren't quite sure what this meant, but wanted to understand it before committing to such a big purchase.

How does a 2 wire system work?

Two-wire systems operate on 2-wire paths for all the sprinklers, as opposed to a control and common wire for each sprinkler/solenoid. This saves considerable wire, however, the 2-wire communication cable cost per foot is much more expensive than the control and common wire costs are per foot.

What happens if you lose a computer?

Also, if you lose the computer, then you cannot operate. And 2-wire systems are very sensitive to lightning and power issues. Conventional systems have much more redundancy as there are field controllers/satellites which you can operate ...

Which phase of the cell cycle is the most sensitive to radiation?

Cells are most sensitive to radiation in the M and late G2 phase of their cycle and most resistant in the late S phase. Since a group of malignant cells are at various points in their cell cycle, delivering the entire dose of radiation in a single fraction is ineffective against a proportion of the tumor cells.

What is fractionation in radiotherapy?

Fractionation in the context of radiotherapy is the process of dividing a dose of radiation into multiple “fractions”. This practice seeks to maximize the destruction of malignant cells while minimizing damage ...

What is a conventional foundation?

Conventional Foundation. A conventional foundation is known as a “Pier & Beam” or “Crawl Space” foundation. This foundation begins with concrete footings. Concrete footings are poured into trenches in the ground. They provide a wide and stable base for the foundation walls. The footing is made of concrete and rebar.

What is a wood floor system?

When the footings, the foundation wall, and the piers are in place, a wood floor system consisting of floor joists and headers is placed on top of the foundation wall and the piers. The joists and headers support the sub floor and the finished flooring material.

What is a foundation wall made of?

The footing is made of concrete and rebar. After the footings have dried, the foundation wall is built on top of the footings. This wall allows the wood floor structure to be elevated above the ground to avoid moisture problems. The foundation wall is typically concrete block filled with rebar and concrete for extra support.

What is a subfloor made of?

As noted earlier, modern sub-floors are typically made from CDX plywood, OSB, or particleboard. Older homes may have a solid wood sub floor. When the sub floor is in place, it is time for the finished floor (carpet, hardwood, vinyl, etc.)

What is the importance of cordial communication in hospitality?

Additionally, a cordial, professional line of communication not only builds a relationship of trust with customers but fosters good teamwork with colleagues and promotes effective leadership.

What is a convention manager?

Convention managers are responsible for coordinating services for a variety of gatherings, including : business seminars, athletic expositions, educational workshops and entertainment functions. These events cover all aspects of hospitality, including booking rooms, providing food services, and setting up the venues for activities.