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/
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