Finance

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

The ______ section contains the sellers existing mortgage loan payoff amount that must be paid to complete the transaction.

"Due from seller at Closing"

Up to what amount will the FDIC insure?

$250,000

What type of property is Aileen appraising if she's using the income approach?

A short-term lake rental

What is provided by a VA-assigned appraiser?

CRV

Before you can create a budget for your personal finances, you should ______.

Estimate annual and monthly income

Which of the following was created as part of the Homeowner Affordability and Stability Plan?

Home Affordable Modification Program HAMP

FDIC Federal Deposit Insurance Corporations

Identifying, monitoring and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails.

Which of the following is classified as the least liquid on the scale?

Institutional money market funds

Your client has a VA loan and wants to refinance to a lower rate. Which of the following is likely the simplest option?

Interest rate reduction refinance

which of the following is part of the Other Disclosures section?

Liability After Foreclosure

The lender, the depository institution, and the ________ all complete parts of the request for verification of deposit reform.

Loan Applicant

Special mortgage loan programs for ________ include the FHA248 and HUD 184 programs.

Native Americans living on tribal land

Foreclosure by Advertisement

Notification of pending auction, public auction, notice of eviction

The buying and selling of government securities as a way to influence the money supply and balance economic growth describes _______.

Open market operations

Lenders who ______ can underwrite and approve FHA loans without requiring the FHA to review each borrowers qualifications.

Participate in the direct endorsement program

A ______ is a mortgage-backed security issued by Freddie Mac

Participation Certificate

What interest rate do banks use to offer consumer loans?

Prime Rate

What is the name of the set of regulations used to enforce the Equal Credit Opportunity Act?

Regulation B

A RAM is a type of equity financing. What does RAM stand for?

Reverse Annuity Mortgage

With this IRA, withdrawals of contributions are tax-free.

Roth

When completing a loan application, the applicant must list their assets. Which of these is considered an asset?

Savings Account

which agency regulates FHLBanks?

The Federal Housing Finance Authority

FHA offers a program for loan insurance on adjustable-rate mortgages under __________ of the National Housing Act.

Title ||

Soren is an appraiser. As such, what guidelines must he follow?

Uniform Standards of Professional Appraisal Practice USPAP

Which veteran loan program in Texas offers qualified veterans help with the purchase of their primary home?

Veterans Housing Assistance Program

when should a licensee begin setting money aside for quarterly estimates?

With the first commission check

Which generation are children of the Silent Generation and products of the U.S. population explosion after World War ||?

Baby Boomers

The ________ uses education, enforcement, and research to promote fairness and transparency for consumer financial services.

Consumer Financial Protection Bureau

Which entity provides disclosures and public information about the financial condition of FCS?

Federal Farm Credit Banks Funding Corporation

Troubled Asset Relief Program

allowed the U.S. Treasury to spend hundreds of billions of dollars to stabilize our financial system, boost credit markets, help families avoid foreclosure, and promote economic growth.

Characteristics applies to a partnership between mortgagors?

it involves more than one mortgagor as owner, sharing responsibility for payment of a single mortgage.

FHL Banks

member banks can borrow for up to one year without collateral

The construction of what type of structures is one of the largest indicators on the country's economy?

new homes

FHLB The Federal Home Loan Bank System

provide credit and other services to help members fund housing, small business, small agribusiness, and economic and community development loans in their communities

If the Treasury encounters a deficit, what actions might it take?

sell securities

What is the most likely effect when the Fed buys securities on the open market?

the economy may grow due to an increased money supply

which of the following would the FDIC most likely insure?

Savings account deposits


Kaugnay na mga set ng pag-aaral

MASTERING- Unit 1 Ch 2 Assignment A

View Set

Chapter 8.1 How Memory Functions

View Set

Substance Abuse Screening & Assessment Instruments

View Set

Intercultural Communication - Test 2

View Set