Texas Real Estate Finance Questions And Answers 100%Verified(Already Passed!!!)A+GRADED Download To Good Scores
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Course
Real Estate U Texas Real Estate Finance
Institution
Real Estate U Texas Real Estate Finance
Texas Real Estate Finance Questions And Answers 100%Verified(Already Passed!!!)A+GRADED Download To Good Scores
secondary - correct answer...The _______ market refers to the selling and purchasing of closed real estate mortgage loans.
bought and sold - correct answer...The secondary market is...
Texas Real Estate Finance Questions
And Answers 100%Verified(Already
Passed!!!)A+GRADED Download To
Good Scores
secondary - correct answer...✔✔The _______ market refers to the selling and
purchasing of closed real estate mortgage loans.
bought and sold - correct answer...✔✔The secondary market is a national market in
which mortgages secured by real estate in all parts of the United States are ______
____ _______.
buying loans, issuing mortgage backed securities - correct answer...✔✔Secondary
market agencies have two main activities: 1) ___ _____ and 2) ______ ________
________ _______.
FNMA (Fannie Mae) Federal National Mortgage Association - correct answer...✔✔
__________ exchanges mortgage back securities for a block or pool of mortgages.
FNMA - correct answer...✔✔_____ is the nation's largest investor in residential
mortgages.
FNMA - correct answer...✔✔One of the primary responsibilities of _____ is to maintain
an active secondary money market for mortgages.
seasoned mortgage - correct answer...✔✔One function of FNMA is selling seasoned
mortgages and trust deeds to individual investors and financial institutions. A ______
______ is one that has been in existence for some time and that shows a good record
of repayment by the mortgagor (borrower)
REIT - correct answer...✔✔To be a _____, a company must distribute at least 90
percent of its taxable income to shareholders annually in the forms of dividends.
have at least 75% or its total assets invested in real estate; derive at least 75% of its
gross income from rents or mortgage interest; have no more than 20% of it's assets
invested in taxable RIETs subsidiaries - correct answer...✔✔A REIT must: be
structured as a corporation, trust, or association; be managed by a board of directors or
trustees; have transferable shares or transferable certificates of interest; otherwise be
taxable as a domestic corporation; not be a financial institution or an insurance
company; be jointly owned by 100 persons or more; have 95 percent of its income
derived from dividends, interest, and property income; pay dividends of at least 90% of
AGRADESOLUTIONS
,the REIT's taxable income; have no more than 50% of the held by five or fewer
individuals during the last half of each taxable year (5/50 rule); _______ ______ ____
___ _ _ _ __ _ _ _ ; ______ __ ____ ___ __ __ __ __ _ __ _ _ _;_____ _ _ _ _ __ _ _ _
__ _ _
Conforming loans - correct answer...✔✔______ _____ are those loans that meet the
loan purchase requirements of both Fannie Mae and Freddie Mac.
supply reserve funds when needed and control bank and consumer credit. - correct
answer...✔✔The two major purposes of the Federal Reserve System, called the FED
for short, are; ______ ____ ___ ___ __ and ____ ___ __ ___ ____
Federal Reserve - correct answer...✔✔The _______ _______ drives the mortgage
loan interest rate.
Federal Reserve - correct answer...✔✔The ______ ______has two primary methods of
controlling the flow of money in the United States. They control the flow of money by
their availability to change the reserve requirements of the banks and/or changing the
discount rate charged to banks.
Discount rate - correct answer...✔✔________ ____ is the rate the Federal Reserve
charges its member bank to borrow money
National banks - correct answer...✔✔_______ _____ must belong and any state banks
that wish may join the Federal Reserve System.
Federal Deposit Insurance Corporation (FDIC) - correct answer...✔✔_______ _____
_____ _____(___) is a federal agency that insures deposits in commercial banks up to
$250,000 and , along with the Federal Reserve System, regulates banks and banking
procedures.
Loan Portfolio - correct answer...✔✔_____ _____ is the total of all the loans that a
financial institution or other lender holds at a given time. A list, distribution, or grouping
of mortgage loans.
Short sale - correct answer...✔✔____ ____ is the sale of a property where the lender
agrees to settle for less than the amount owed on the property
Homestead - correct answer...✔✔_______: In the Texas Constitution, a principle
residence of a family or adult single person is protected from forced sale for all debt
except: property taxes; federal tax liens of both spouses; a home equity lien.....etc...
Community property and joint tenancy - correct answer...✔✔____ ____ and ______
_______ are not the same thing.
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, Usuary laws - correct answer...✔✔_____ ____ put a cap on interest rate.
Usury - correct answer...✔✔______ is the state law that prohibits the charging of an
interest rate in excess of the legal limit.
Usuary laws - correct answer...✔✔_____ _____ are created to protect the borrower.
Deceptive Trade Practice Act (DTPA) - correct answer...✔✔Under the _____ _____
_____ ___(___) licensees can still be held liable if they committed an unconscionable
act, misrepresented a material fact, or failed to disclose information with the intention of
inducing a consumer into a transaction.
Equal Credit Opportunity Act (ECOA) - correct answer...✔✔The _______ _____ ____
____(___) states it shall be unlawful for any creditor to discriminate against any
applicant, with respect to any aspect of a credit transaction-- on the basis of race, color,
religion, national origin, sex or marital status, or age (provided the applicant has the
capacity to contract); because all or part of the applicant's income derives from any
public assistance program;etc..
civil liability for actual and punitive damages in individual or class actions. - correct
answer...✔✔Failure to comply with the Equal Credit Opportunity Act's Regulation B can
subject a financial institution to _______ ___ ___ ___ and ____ ___ _____ __ or ____
____
Redlining - correct answer...✔✔_______ is a discriminatory practice by which banks
refuse or limit loans and mortgages within specific geographic areas, especially older or
so-called "bad risk" neighborhoods, including inner-city neighborhoods. also when a
lender has refused to make a loan to a potential buyer because of the location of the
property.
Fair Credit Reporting Act - correct answer...✔✔In 1970, the first ____ ___ _____ ___
was passed. For the first time, this gave each individual the right to inspect his file,
correct any errors and make explanatory statements to supplement the file.
RESPA - correct answer...✔✔The provisions of _____ are for residential properties,
not commercial properties.
directing consumers toward a particular title company for a fee - correct answer...✔✔
RESPA restricts or prohibits: kickbacks or fees charged for services not performed
during the closing process; the amount of reserves a lender can require for taxes and
insurance in a mortgage escrow, and _____ ___ ___ ______ __ ___ __ _
the settlement costs; the APR; provide the HUD-1 form to the buyers - correct answer...
✔✔RESPA requires the following items to be disclosed to the buyers: _____ __
____;____ _____; ___ ___ ____ ___ __ __ __ _
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