CHAPTER THIRTEEN QUIZ
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Question 1 of 14
1. Question
A principal role of FNMA is to
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Question 2 of 14
2. Question
A graduated payment loan is a mortgage loan where
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Question 3 of 14
3. Question
A buydown is a financing arrangement where
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Question 4 of 14
4. Question
A builder is required to secure a loan with mortgages on three properties. This is an example of
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Question 5 of 14
5. Question
The Federal Reserve System regulates the money supply in which of the following ways?
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Question 6 of 14
6. Question
The key feature of an adjustable mortgage loan is that
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Question 7 of 14
7. Question
The major players in the secondary mortgage market are
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Question 8 of 14
8. Question
The primary role of the Federal Housing Authority in the mortgage lending market is to
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Question 9 of 14
9. Question
The principal role of the Veteran’s Administration in the mortgage lending market is to
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Question 10 of 14
10. Question
Which laws or regulations require mortgage lenders to disclose financing costs and annual percentage rate to a borrower before funding a loan?
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Question 11 of 14
11. Question
Which laws or regulations require mortgage lenders to provide an estimate of closing costs to a borrower and forbid them to pay kickbacks for referrals?
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Question 12 of 14
12. Question
Which of the following is true of a loan with negative amortization?
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Question 13 of 14
13. Question
One feature of a wraparound mortgage loan is that
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Question 14 of 14
14. Question
One of the primary purposes for the secondary mortgage market is to
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