unit 5 exam

Who or what entity directs the activities of credit unions?

A board of directors

Commercial banks offer interim financing in the form of ______ loans.

Construction

How is a mortgage banker paid?

Fees from originating and servicing loans

Commercial banks fall into which of the following category of lenders?

Institutional lenders

Construction loans are a type of ______ financing.

Interim

Life insurance companies are more concerned with long-term stability of investments than they are ___________.

Liquidity

Life insurance companies participate in real estate in the ______ arena.

Mortgage blocks from secondary mortgage market

What does NCUA stand for?

National Credit Union Administration

Joe works for a life insurance company that funds commercial investment projects and often insures these projects by insisting on an equity position. What type of financing does this describe?

Participation

Which of the following is true about mortgage brokers?

They don't service the loan beyond placement.