Exam (elaborations)
RMLO For Real Estate Agents- Residential Mortgage Loan Origination: Q’s And A’s
- Course
- Institution
RMLO For Real Estate Agents- Residential Mortgage Loan Origination: Q’s And A’s
[Show more]
Content preview
RMLO For Real Estate Agents- Residential MortgageLoan Origination: Q’s And A’s
What is the secondary market? Right Ans - It is the market for purchasing
and selling existing mortgages designe to provide greater liquidity and selling
mortgages.
What does (FNMA) stand for? Right Ans - The Federal National Mortgage
Association
What is the purpose of the (FNMA)? Right Ans - It plays a vital role in
financing mortgages and increasing homeownership opportunities in the U.S.
What is a another term used for the (FNMA)? Right Ans - Fannie Mae
When was Fannie Mae created? Right Ans - 1938
Fannie Mae began as a what? Right Ans - An agency of the federal
government to bring stability to the U.S housing market.
What does (AARMR) stand for? Right Ans - American Association of
Residential Mortgage Regulators
What is the purpose of (AARMR)? Right Ans - They are charged with the
responsibility of administration and regulation o residential; mortgage
lending, servicing and brokering.
What does the term "non-traditional product" mean? Right Ans - Any
mortgage other than a 30-year fixed-rate mortgage.
What does the (SAFE Act) stand for? Right Ans - Secure and Fair
Enforcement for Mortgage Licensing Act of 2008
What is did the (SAFE Act) do? Right Ans - Established the minimum
standards for the licensing and registration of mortgage loan originators.
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 LeCrae. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now