CE shop finance TX

The Farm Credit System is ______.

A government-sponsored enterprise (The Farm Credit System is a government-sponsored enterprise.)

Robert is a rancher. He was told about the USDA Farm Service Agency offerings. What can he use an approved loan for?

Building a new hay barn

How does Farmer Mac support agricultural producers?

By creating a secondary market for agricultural loans, making it possible for agricultural lenders to fund more loans

Rules and regulations that protect consumers of financial services are now the responsibility of ______, which was created by the Dodd-Frank Act.

CFPB

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

Consumer Financial Protection Bureau

Disintermediation

Consumers are withdrawing more money from banks than they are depositing.

HUD's ______ assists very low-income families, the elderly, and disabled individuals in affording decent, safe, and sanitary housing in the private market.

Housing Choice Voucher Program

Which type of support does the USDA Rural Development Program offer to its target audience of rural residents?

It offers direct loans, grants, and loan guarantees for housing and other rural needs, as well as advisor services to agricultural producers.

Which type of federally related lending transaction is covered under RESPA?

Mortgages and home equity credit lines

Which HUD program is responsible for developing and enforcing federal fair housing policies and laws?

Office of Fair Housing and Equal Opportunity

What is the act that requires this licensing identification to be available to consumers?

SAFE act

The Mortgage Disclosure Improvement Act amends ______ in terms of the timing of lender disclosures.

TILA : truth in lending act

Randall needs some new equipment for his ranching operation, and he needs a loan to purchase the equipment. When he approaches his local bank and applies for a Farm Credit System loan, how is the loan funded?

The Federal Farm Credit Banks Funding Corporation is responsible for raising money through the sale of Farm Credit System debt securities to fund loans.

Which agency regulates FHLBanks?

The Federal Housing Finance Authority

The Housing and Economic Recovery Act and the American Recovery and Reinvestment Act were enacted in response to ______.

The subprime mortgage crisis and economic meltdown of 2007-2008

Which of the following has a direct responsibility to pay the nation's bills?

Treasury

The ______ requires specific disclosures and was enacted in 1968 as part of the Consumer Credit Protection Act.

Truth in Lending Act

Direct farm ownership loans from the ______ may be used to buy farmland, construct and repair buildings, and make farm improvements.

USDA Farm Service Agency

To be eligible for a ______, an applicant must have participated in farm or ranch management for at least three years.

USDA loan through the Farm Service Agency

Which one of the following best describes the state of the market during the recession phase of the real estate cycle?

Unemployment increasing, prices falling, and foreclosures on the rise

What step of the real estate cycle generally follows a recession?

recovery

Long- and short-term debt instruments are called

securities

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

sell securities

A short-term security issued by the Treasury that has a maturity term of one year or less is called a Treasury

bill

benefits of the USDA loan program?

doesn't require a down payment for the loan.

The Mortgage Disclosure Improvement Act gives applicants a three-day ______ to review and approve the Loan Estimate and Closing Disclosure form.

waiting period