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ASREB A-5 quiz Questions and Answers Graded A+
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Exam of 4 pages for the course ASREB at ASREB (ASREB A-5 quiz)
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ASREB A-5 quizWho authorizes the use of the "power of sale" in a deed of trust? - answer Beneficiary
Why would a seller accept an agreement for sale instead of a purchase money
mortgage? - answer The seller can keep the deed until the carryback is paid
The redemption period on a deed of trust following the trustees sale is: - answer
Redemption period does not exist
Who benefits from the assignment of rents clause? - answer Beneficiary
A trustee under a deed of trust would not be involved in which of the following
circumstances? - answer Collection of monthly loan payments
This requires lenders to inform borrowers, when buying a home, secured by a mortgage
or trust deed, of all finance charges, fees and interest at the time of signing loan
documents: - answer Regulation Z
After a mortgage foreclosure, any access monies would go to the: - answerMortgagor
The supply and cost of money can be most effectively controlled by: - answerFederal
reserve system
The office of thrift supervision is the governing body for: - answerSavings and loan
associations
How many days would the lender have to give the buyer a good faith estimate in a
residential loan transaction? - answer3 days from loan application
Fannie Mae is active in the: - answerSecondary mortgage market
The real estate settlement and procedures act applies to: - answer-FHA
-VA
-a loan sold to Fannie Mae
The agency the regulates Reg Z is: - answerFTC
A non-recourse loan provides for: - answer-loan repayment
-loan documents
-foreclosure
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