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Real Estate Finance (Study Guide for the Real Estate Finance Exam for the Texas Real Estate License) CA$13.73   Add to cart
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Real Estate Finance (Study Guide for the Real Estate Finance Exam for the Texas Real Estate License)
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Real Estate Finance (Study Guide for the Real Estate Finance Exam for the Texas Real Estate License)

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  • June 8, 2023
  • 6
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

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Real Estate Finance (Study Guide for
the Real Estate Finance Exam for the
Texas Real Estate License)
Fannie Mae Correct Ans - Creates a secondary market for FHA & VA
mortgages. Also sells mortgage loan products.

Administered Price System Correct Ans - Fannie Mae's method for
purchasing mortgages according to daily economic indicators.

MBS Correct Ans - Mortgage backed securities.

Subprime Market Correct Ans - Mortgages granted using liberal
qualifying standards.

Hypothecation Correct Ans - Borrower pledges collateral for a loan,
while retaining ownership of the assets and enjoying the benefits therefrom.

Equitable Interest Correct Ans - A right in equity that, if violated
(suffers a harm), is subject to satisfaction by an equitable remedy.

Reserve Requirements Correct Ans - Member banks are required to
keep a specific percentage of deposits in reserve with the Federal District
Bank to protect depositors.

Commercial Paper Correct Ans - Loans issued by commercial banks.
The Fed resells this paper in secondary market, thus helping banks gain cash
flow.

Discount Rate Correct Ans - Interest charged by member banks on
funds borrowed from the Fed.

Prime Rate Correct Ans - Fed discount rate that banks use to
determine the interest rate given to their prime customers.

, Federal Funds Rate Correct Ans - Interest rate the Fed charges
member banks for short-term (sometimes over night) loans that don't require
collateral.

Open-Market Operations Correct Ans - Used by Fed to balance
economy. Purchase or sale of government securities by lots.

FHA Correct Ans - Federal Housing Administration

TILA Correct Ans - Truth in Lending Act - Reg Z. Requires lenders to
reveal total cost of loan and APR.

APR Correct Ans - Annual Percentage Rate = Total loan cost.

Right of Rescission Correct Ans - Borrower has 3 days to resend on
loans secured by primary residence (excluding home loans).

US Treasury Correct Ans - The Nation's fiscal manager.

Treasury Bonds, Notes & Bills Correct Ans - US long-term debt
instruments, 30 year, 10 year and short term.

FDIC Correct Ans - Federal Deposit Insurance Corporation - Insures
member accounts up to $250,000.

FHLB Correct Ans - Federal Home Loan Bank - 12 U.S. sponsored
banks offering low-cost funding to banks for home mortgage loan and other
purposes.

HUD Correct Ans - Housing & Urban Affairs - Supervises the FHA,
directs Ginnie Mae, enforces Fair Housing & RESPA

RESPA Correct Ans - Real Estate Settlement Procedures Act - Protects
consumers by providing closing cost

NSP Correct Ans - Neighborhood Stabilization Program - Help stabilize
homes in areas with many foreclosures. Grants provided to states for
purchase.

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