1. Taxes: A mortgage payment includes principal, interest, insurance,
and...?
Discount
points Fees
Deductibles
Taxes
2. Federal Reserve System: The U.S Central bank is known as the...?
U.S. Reserve
System National
Bank
Federal Reserve
System Central
Reserve System
3. Secondary mortgage market: Once a bank make a loan to a borrower,
the bank may sell that loan in which of the following markets...?
1/
,Primary mortgage market
Stock market
Trading market
Secondary mortgage market
4. Farmer Mac: Which of the following purchases newly originated and
seasoned agricultural loans from lenders...?
Ginnie
Mae
Fannie
Mae
Freddie
Mac
Farmer
Mac
5. Pre-approval: What do lenders require from all borrowers prior to
issuing a loan...?
Activation fees
2/
, Recommendatio
ns Pre-approval
Investment property as collateral
6. Mortgage banker: A person whose principal business is the originating,
financ- ing, closing, selling and servicing of loans secured by the real
property for institu- tional lenders on a contractual basis is referred to
as a...?
Mortgage
banker
Mortgage
broker
3/
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller NurseFerian. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
