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Principles Of Real Estate 2 TEXAS: Questions With Accurate Solutions
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Principles Of Real Estate 2 TEXAS: Questions With Accurate Solutions
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Principles Of Real Estate 2 TEXAS: Questions WithAccurate Solutions
TALCB Right Ans - Texas appraiser licensing and certification board
DUST Right Ans - Four characteristics that make real estate valuable:
demand, utility, scarcity and transferability
principle of substitution Right Ans - a person will only pay as much for a
property as they must to acquire a comparable porperty
principle of contribution Right Ans - an improvement to a home is worth
only as much as it adds to the property's market value and doesn't always
equal cost to improve
quantity survey method Right Ans - appraiser tallying up the value of
everything that goes into the cost of building
unit-in-place method Right Ans - takes direct and indirect costs into
account but combines them into a simplified cost for a building component
secondary mortgage market Right Ans - mortgage loans created in primary
market are bundled and sold
GSE Right Ans - government sponsored enterprise: created by congress to
provide liquidity, stability and affordability to the mortgage market
MBS Right Ans - mortgage backed securities: asset backed security;
mortages are sold to gov't or investment bank who bundle so investors can
buy them.
FHLB Right Ans - federal home loan banks: regulate, set reserve, establish
discount rates and provide insurance for depositors
URLA Right Ans - uniform residentail loan application: standardized
document by the GSE's. Allows borrowers to apply for a mortgage loan and
provides consistency in data gathering
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