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Champions Real Estate Finance: Q&A
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Champions Real Estate Finance: Q&A
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Champions Real Estate Finance: Q&A_____ is the consummation of a contractual real estate transaction in which all
appropriate documents are signed, and the mortgage loan proceeds are
disbursed by the lender. Correct Ans - Closing
The primary determinants of real estate values are supply and _____.
Correct Ans - Demand
_____ is something of value that can be pledged as security for repayment of a
loan. Correct Ans - Collateral
Servicing includes which of the following activities? Correct Ans -
Maintaining records of payment
The monetary policies of the _____affects interest rates and the availability of
funds. Correct Ans - Federal Reserve
An excess supply of money in the market results in monetary _____. Correct
Ans - Inflation
Which agency insures deposits in banks and thrift institutions for up to
$250,000? Correct Ans - The Federal Deposit Insurance Corporation
The _____ is the interest rate a reserve bank charges eligible financial
institutions to borrow funds on a short-term basis. Correct Ans -
Discount rate
Raising taxes and increasing borrowing are two ways at the treasury level to:
Correct Ans - Raise funds to pay for government spending
The Fed uses three primary monetary policy tools to influence the cost and
availability of credit: open market operations, the discount rate, and _____.
Correct Ans - Reserve requirements
When the costs of production and services increase, causing manufacturing
prices to rise, it is called _____. Correct Ans - Cost-push inflation
, Which of the following transactions is exempt from RESPA? Correct Ans -
Temporary loans
Under the _____, the use of certain terms in an advertisement triggers the need
for full disclosure of lending terms. Correct Ans - Truth in Lending Act
The Dodd-Frank Wall Street Reform and Consumer Protection Act established
the _____. Correct Ans - Consumer Financial Protection Bureau
How can Sylvia ensure that Victor is properly licensed as an RMLO?
Correct Ans - She can look him up in the NMLSR
The secondary mortgage market was designed to provide greater liquidity to
the residential real estate market, primarily by _____. Correct Ans - The
sale of mortgage loans as investments
Loans originated to adhere to Fannie Mae, Freddie Mac, and Ginnie Mae
requirements for purchase are called _____. Correct Ans - Conforming
loans
Which of the following housing objectives does Fannie Mae address?
Correct Ans - Regional imbalances of available mortgage credit, The
origination of mortgages for sale, The standardization of mortgage loans
A _____ lender is one who funds mortgage loans from deposits on hand,
retaining the loans long term. Correct Ans - Portfolio
is a government-sponsored enterprise with the mission of providing a
secondary market for agricultural real estate mortgage loans, rural housing
mortgage loans, and rural utility cooperative loans. Correct Ans -
Farmer Mac
The secondary market provides greater _____ to the residential real estate
market by providing a steady supply of funds from investors. Correct Ans
- Liquidity
Fannie Mae operates with _____ to enhance the flow of funds through the
secondary market to home buyers. Correct Ans - Private capital
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