Section 4, Unit 1: Commercial Sources of Funds
Who needs to obtain a mortgage loan originator endorsement and register with the Nationwide Mortgage Licensing System and Registry?
Anyone who acts as a mortgage loan originator
Which of these items is a demand deposit?
Checking account
Commercial banks offer interim financing in the form of ______ loans.
Construction
Commercial banks fall into which of the following category of lenders?
Institutional lenders
What impact did the authorization of the Credit Union Membership Access Act have on credit unions?
It removed the union-worker-only membership restriction.
Which organization manages and charters credit unions?
NCUA
Life insurance companies sometimes like to insure their investment in commercial projects by insisting on an equity position. This is known as ______ financing.
Participation
What does it mean when a life insurance company uses participation financing?
The life insurance company participates by taking partial ownership of the project in exchange for funding the loan.
