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Real Estate Finance Exam: Questions And Answers
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Real Estate Finance Exam: Questions And Answers
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Real Estate Finance Exam: QuestionsAnd Answers
A goal, anticipations and positions of ___________________ of real estate are
diametrically opposed Correct Ans - Lenders in owners
_________________ as refers to a limit placed on a property owners ability to sell
lease for a period exceeding three years or further encumber a property as
permitted by federal mortgage policy Correct Ans - Restraint on
alienation
The __________________ created the customers financial protection bureau
parenthesesCFPB in response to the millennium boom Correct Ans -
Dodd/Frank Wall Street reform and consumer protection act (Dodd -frank )
______________ refers to a lengthy period of weak economic growth Correct
Ans - Secular stagnation
The secure and fair enforcement for mortgage licensing act parentheses at
safe act applies to mortgages secured by 1 to 4 unit residential properties
made primarily for funding a ____________________ use Correct Ans -
Personal , family ,household
When a California department of real estate license negotiate a residential
mortgage for a fee they are required to obtain a Correct Ans -
Mortgage loan Oregon Nader parentheses capital MLO endorsement
As mortgage underwriting standards become a lax during the millennium
boom and under qualified tenants were LURD into
homeownership__________________________ became more common Correct
Ans - Subprime lending
Under a ____________________ periodic payments of principal and interest are
made until the principal is paid in full by Amortization or a final/balloon
payment Correct Ans - Installment note
, A _____________________ calls for the buyer to periodically pay interm interest at a
fixed rate then when the principal balance is due to further pay the mortgage
holder additional interest calculated as a fraction of the property increase net
value since origination Correct Ans - Shared appreciation mortgage
(SAM)
A document given as evidence of death old by one person to another is called
Correct Ans - Note
A __________________ in a note converts a mortgage holder is recourses paper into
no recourse paper Correct Ans - Exculpatory clause
A ______________ is an attachment we know occurring between preparation of
the note and closing the transaction providing information necessary to
update entries on the note at the time it become effective Correct Ans -
Allonge
____________________ is needed to assure a mortgage holder of the continued
priority of their trust deed lien relative to the others interest on the title to the
real estate Correct Ans - Title insurance
A __________________ Provides a mortgage holder the right to change a property
owner when the pay off the outstanding principal balance on a mortgage early
Correct Ans - Pre-payment mentality provision
A pre-payment mentality. Is limited to ____________ after origination of a
qualified mortgage. QM with a fixed interest rate Correct Ans - Three
years
A provision in a note which prohibits pre-payment and early satisfaction of
the mortgage debt in referred to as ____________________ Correct Ans -
Lock in clause
A provision in a know which calls for an additional charge if payment is not
received by the mortgage holder when the due or within a grace period after
which the payment is delinquent is called Correct Ans - Late charge
provision
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