Mortgage Banker

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“Mortgage Banker related Frequently Asked Questions in various Mortgage Banker job interviews by interviewer. The set of questions here ensures that you offer a perfect answer posed to you. So get preparation for your new job hunting”



92 Mortgage Banker Questions And Answers

82⟩ What is 'Amortization'?

The repayment of the loan by instalment to cover principal amount with interest is known as 'Amortization'.

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84⟩ What is negative Amortization?

When repayment of the loan is less than the loans accumulated interest, then negative Amortization occurs. It will increase the loan amount instead of decreasing it. It is also known as 'deferred interest'.

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85⟩ What is inter-bank deposit?

Any deposit that is held by one bank for another bank is known as inter-bank deposit. The bank for which the deposit is being held is referred as the correspondent bank.

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87⟩ What do you mean by co-maker?

A person who signs a note to guarantee the payment of the loan on behalf of the main loan applicant's is known as co-maker or co-signer.

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91⟩ What is Start-Up Loans?

This type of Loan is offered to borrower to start their business and can be used to build a storefront, to acquire inventory or pay franchise fees to get a business rolling.

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92⟩ What is Checking Account?

You can access the account as the saving account but, unlike saving account, you cannot earn interest on this account. The benefit of this account is that there is no limit for withdrawal.

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