Exam (elaborations)
Real Estate Finance 1: Questions &Answers
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- Real Estate Finance 1
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- Real Estate Finance 1
Real Estate Finance 1: Questions &Answers
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Real Estate Finance 1: Questions &AnswersThe process of making a lending decision is known as: Correct Ans -
underwriting
Each consumer has three different credit scores from the three major credit
reporting agencies because: Correct Ans - not all creditors report to all
of the agencies
___________ typically extend loans with their own funds, at their own risk.
Correct Ans - correspondent lenders
The collecting of monthly payments and the maintenance of records of
payments and balances is known as: Correct Ans - servicing
Locally, real estate values are affected by: Correct Ans - Availability of
employment, Population trends, Local government policies
_______________ is the maintenance of a stable money supply that provides for
growth in the economy while keeping inflation in check. Correct Ans -
monetary policy
The _______________ is responsible for raising money to support the spending
decisions of the congress. Correct Ans - u.s. treasury
The U.S. Mint is part of the ________________________. Correct Ans -
department of the treasury
Banks and federal savings associations are regulated by the __________________
Correct Ans - Office of the Comptroller of the Currency
In residential lending, mortgage brokers, bankers and correspondent lenders
are now universally known as: Correct Ans - Residential Mortgage
Loan Originators (RMLOs)
All residential mortgage loan originators must now be registered with:
Correct Ans - NMLS
, USDA loans are available for: Correct Ans - primary residences only
According to the Loan Estimate, services you cannot shop for include:
Correct Ans - credit report fee
The Loan Estimate form replaces which of the following forms? Correct
Ans - the good faith estimate
The Community Development Block Grants (CDBG) Program was created in
__________ to help communities with economic development, job opportunities
and housing rehabilitation. Correct Ans - 1974
Federal Fair Housing statutes prohibit housing discrimination based on which
of the following? Correct Ans - national orgin
The _________________ exists for the purchase and sale of existing mortgages to
investors. Correct Ans - secondary market
______________ buys loans in the secondary market. Correct Ans - fannie
mae
There are _____ Federal Home Loan Banks. Correct Ans - twelve
A ____________ is a return on an investment. Correct Ans - yield
The Housing and Economic Recovery Act of 2008 authorized the FHFA to:
Correct Ans - Enforce compliance with housing goals
The Federal Agricultural Mortgage Corporation, better known as Farmer Mac,
was established by ____________ as a part of the Agricultural Credit Act of 1987.
Correct Ans - congress
The working capital of a ________________ is primarily generated through
deposits from its clients. Correct Ans - commercial bank
Life insurance companies are funded by ____________. Correct Ans -
premiums
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