HUD_Certification_Examination_Study_Guide_
2025_2026
1. Deed Restric- Legally enforceable terms that govern the use of real estate
tions
2. Deed-in-lieu Legally enforceable terms that govern the use of property. These terms are
transferred with the property deed. Discriminatory deeds are illegal and unen-
forceable.
3. Negative amorti- An increase in the principal balance of a loan caused by monthly payments that
zation do not cover the interest due. The unpaid interest is added to the unpaid principal
balance causing the loan to grow over time. Can occur when an ARM has a
payment cap that results in monthly payments that do not that are not high
enough to cover the interest due.
4. Redlining The practice of refusing to make residential loans or imposing more onerous
terms on any loans made because of the predominant race, color, national origin,
religion, sex, disability, or familial status of the area's residents.
5. Real Property Land and everything that is permanently attached or integrated, such as buildings,
crops, or mineral rights
6. Personal Proper- Moveable asset
ty
7. Civil Rights Act of Following the assassination of Dr. Martin Luther King Jr., Congress passed what
1968 monumental piece of legislation, which prohibits discrimination in housing sales,
rentals, and �nancing based on race, color, national origin, religion, sex, disability
and familial status?
8. 7 The Fair Housing Act, as amended, protects how many characteristics?
9. Chattel loan Secured by a movable piece of personal property. Manufactured homes on leased
land are typically �nanced this way. The loan is secure even if the home is moved
to a new location. Higher interest rate than mortgages.
,10. Reasonable Mod- A structural modi�cation that is made to allow persons with disabilities the full
i�cation enjoyment of the housing and related facilities.
11. Reasonable Ac- A change in rules, policies, practices, or services so that a person with a disability
comodation will have an equal opportunity to use and enjoy a dwelling unit or common space
12. True The Fair Housing Act does not prohibit a lender from showing potential clients
information about di erent loans.
13. Fair Housing As- Provides annual funding to state and local agencies; these funds go towards an
sistance Program agency's capacity building, administrative costs, investigative and enforcement
(FHAP) e orts, training and other projects designed to support enforcement of fair
housing law.
14. Fair Housing Ini- Provides funding to fair housing organizations and nonpro�ts that assist people
tiatives Program who may have been victims of housing discrimination.
(FHIP)
15. Marketing Analy- Aim is to identify groups of people who would bene�t most if targeted by the
sis campaign, the characteristics of these people, and their expectations.
16. Marketing Plan A strategy designed to attract buyers and renters of all majority and minority
groups regardless of sexual orientation, gender identity, source of income, and
marital status and describe initial advertising outreach and other marketing ac-
tivities
17. Networking The opportunity to increase awareness of the plans and actions of housing in-
Event dustry members, private organizations and foundations, public housing agencies,
neighborhood groups, regional organizations, and others to further fair housing
objectives.
18. Personal Infor- The section of the credit report that contains employer details.
mation
, 19. Account Informa- The section of a credit report that contains information about a student loan.
tion
20. Public Records The section of the credit report that contains court information such as a bank-
ruptcy.
21. Inquiries The section of the credit report that will show recent attempts to open a credit
card.
22. Consumer Rights The section of the credit report that contains information about how to correct
inaccuracies.
23. Account History Credit: Payment history of accounts, including late payments, delinquencies,
judgments, and liens.
24. delinquent The failure of a borrower to make timely payments under a loan agreement. Most
mortgages allow for a grace period, generally ten to �fteen days, before a late fee
may be assessed.
25. Amounts Owed Credit: Ratio of total credit extended to the amount of credit owed.
26. Length of Credit Credit: Overall length of credit history in the report as well as the average age of
History accounts.
27. Types of Credit Credit: Variety of accounts (e.g. credit card, auto loan, mortgage)
28. New Credit Credit: Number of recent credit inquiries, as well as new credit accounts.
29. AnnualCreditRe- Where does a client go to get a free credit report?
port.com
30. Fair Credit Re- You have the right to dispute information in your credit �le that is incomplete,
porting Act inaccurate, or unveri�able.
(FCRA)
2025_2026
1. Deed Restric- Legally enforceable terms that govern the use of real estate
tions
2. Deed-in-lieu Legally enforceable terms that govern the use of property. These terms are
transferred with the property deed. Discriminatory deeds are illegal and unen-
forceable.
3. Negative amorti- An increase in the principal balance of a loan caused by monthly payments that
zation do not cover the interest due. The unpaid interest is added to the unpaid principal
balance causing the loan to grow over time. Can occur when an ARM has a
payment cap that results in monthly payments that do not that are not high
enough to cover the interest due.
4. Redlining The practice of refusing to make residential loans or imposing more onerous
terms on any loans made because of the predominant race, color, national origin,
religion, sex, disability, or familial status of the area's residents.
5. Real Property Land and everything that is permanently attached or integrated, such as buildings,
crops, or mineral rights
6. Personal Proper- Moveable asset
ty
7. Civil Rights Act of Following the assassination of Dr. Martin Luther King Jr., Congress passed what
1968 monumental piece of legislation, which prohibits discrimination in housing sales,
rentals, and �nancing based on race, color, national origin, religion, sex, disability
and familial status?
8. 7 The Fair Housing Act, as amended, protects how many characteristics?
9. Chattel loan Secured by a movable piece of personal property. Manufactured homes on leased
land are typically �nanced this way. The loan is secure even if the home is moved
to a new location. Higher interest rate than mortgages.
,10. Reasonable Mod- A structural modi�cation that is made to allow persons with disabilities the full
i�cation enjoyment of the housing and related facilities.
11. Reasonable Ac- A change in rules, policies, practices, or services so that a person with a disability
comodation will have an equal opportunity to use and enjoy a dwelling unit or common space
12. True The Fair Housing Act does not prohibit a lender from showing potential clients
information about di erent loans.
13. Fair Housing As- Provides annual funding to state and local agencies; these funds go towards an
sistance Program agency's capacity building, administrative costs, investigative and enforcement
(FHAP) e orts, training and other projects designed to support enforcement of fair
housing law.
14. Fair Housing Ini- Provides funding to fair housing organizations and nonpro�ts that assist people
tiatives Program who may have been victims of housing discrimination.
(FHIP)
15. Marketing Analy- Aim is to identify groups of people who would bene�t most if targeted by the
sis campaign, the characteristics of these people, and their expectations.
16. Marketing Plan A strategy designed to attract buyers and renters of all majority and minority
groups regardless of sexual orientation, gender identity, source of income, and
marital status and describe initial advertising outreach and other marketing ac-
tivities
17. Networking The opportunity to increase awareness of the plans and actions of housing in-
Event dustry members, private organizations and foundations, public housing agencies,
neighborhood groups, regional organizations, and others to further fair housing
objectives.
18. Personal Infor- The section of the credit report that contains employer details.
mation
, 19. Account Informa- The section of a credit report that contains information about a student loan.
tion
20. Public Records The section of the credit report that contains court information such as a bank-
ruptcy.
21. Inquiries The section of the credit report that will show recent attempts to open a credit
card.
22. Consumer Rights The section of the credit report that contains information about how to correct
inaccuracies.
23. Account History Credit: Payment history of accounts, including late payments, delinquencies,
judgments, and liens.
24. delinquent The failure of a borrower to make timely payments under a loan agreement. Most
mortgages allow for a grace period, generally ten to �fteen days, before a late fee
may be assessed.
25. Amounts Owed Credit: Ratio of total credit extended to the amount of credit owed.
26. Length of Credit Credit: Overall length of credit history in the report as well as the average age of
History accounts.
27. Types of Credit Credit: Variety of accounts (e.g. credit card, auto loan, mortgage)
28. New Credit Credit: Number of recent credit inquiries, as well as new credit accounts.
29. AnnualCreditRe- Where does a client go to get a free credit report?
port.com
30. Fair Credit Re- You have the right to dispute information in your credit �le that is incomplete,
porting Act inaccurate, or unveri�able.
(FCRA)
