Sutherland Global Services Junior Underwriter Interview Questions and Answers

A mortgage is a loan used to purchase a property, where the property itself serves as collateral for the loan.

• A mortgage is a financial agreement between a borrower and a lender.

• It is used to finance the purchase of a property, such as a house or a commercial building.

• The borrower agrees to repay the loan over a specified period of time, typically with interest.

• The property being purchased serves as collateral, which m...read more

There are two main types of mortgages: fixed-rate and adjustable-rate.

• Fixed-rate mortgages have a set interest rate for the life of the loan.

• Adjustable-rate mortgages have an interest rate that can change over time.

• Other types of mortgages include FHA loans, VA loans, and jumbo loans.

• FHA loans are backed by the Federal Housing Administration and require a lower down payment.

• VA loans are for veterans and active-duty mil...read more