Unit 3: Real Estate Financing Principles- Unit
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If a borrower is in default, either for failure to make payments
or even failure to remove debris from a property, how long
does Fannie Mae give him to cure the default and maintain
ownership?
A)
90 days
B)
60 days
C)
Immediately or wait, at the discretion of Fannie Mae
D)
30 days - Correct Answers ✅D
When the owner of a rental property is declared in default of
his mortgage, can he continue to receive rent collections?
A)
Rents must be placed into an escrow account until the court
decides ownership.
B)
No, when a declaration of default is made, all rent payments
stop until the equity court decides the disposition of the
property.
C)
,Unit 3: Real Estate Financing Principles- Unit
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No, when a declaration of default is made, all rent payments
go to the lender.
D)
Yes, the landlord may continue to collect rents on properties.
- Correct Answers ✅D
Which loan arrangement provides not only for a loan on the
real estate, but also the personal property—including
furniture and kitchenware?
A)
Equity loans
B)
Package loans
C)
Shared-appreciation mortgages
D)
Reverse mortgages - Correct Answers ✅B
A loan-to-value ratio is calculated by
A)
multiplying the loan amount by the lesser of sales price or
appraisal.
B)
,Unit 3: Real Estate Financing Principles- Unit
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dividing the down payment by the lesser of sales price or
appraisal.
C)
dividing the loan amount by the lesser of sales price or
appraisal.
D)
multiplying the down payment by the lesser of sales price or
appraisal. - Correct Answers ✅C
Which secondary market entity primarily provides a
secondary market for conventional loans?
A)
Farmer Mac
B)
Ginnie Mae
C)
Freddie Mac
D)
Fannie Mae - Correct Answers ✅C
If a borrower runs into financial trouble and believes he will
be unable to make future payments on his home, he should
A)
, Unit 3: Real Estate Financing Principles- Unit
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stop making payments and wait for the bank to send a final
notice demand.
B)
contact the lender immediately and discuss options for
reduced payments.
C)
move out and send the keys to the lender.
D)
begin putting payments on credit cards so the lender is paid
in full each month, while the card holder pays the minimum
credit card balance. - Correct Answers ✅B
If the foreclosure sales price exceeds the amount the
borrower owes (plus costs and fees), who receives the excess
money?
A)
The mortgage insurance company
B)
Fannie Mae or Freddie Mac
C)
The borrower
D)
The original lender - Correct Answers ✅C
Exam Questions and Verified Answers, 100%
Score Guarantee Pass (Latest 2025)
If a borrower is in default, either for failure to make payments
or even failure to remove debris from a property, how long
does Fannie Mae give him to cure the default and maintain
ownership?
A)
90 days
B)
60 days
C)
Immediately or wait, at the discretion of Fannie Mae
D)
30 days - Correct Answers ✅D
When the owner of a rental property is declared in default of
his mortgage, can he continue to receive rent collections?
A)
Rents must be placed into an escrow account until the court
decides ownership.
B)
No, when a declaration of default is made, all rent payments
stop until the equity court decides the disposition of the
property.
C)
,Unit 3: Real Estate Financing Principles- Unit
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No, when a declaration of default is made, all rent payments
go to the lender.
D)
Yes, the landlord may continue to collect rents on properties.
- Correct Answers ✅D
Which loan arrangement provides not only for a loan on the
real estate, but also the personal property—including
furniture and kitchenware?
A)
Equity loans
B)
Package loans
C)
Shared-appreciation mortgages
D)
Reverse mortgages - Correct Answers ✅B
A loan-to-value ratio is calculated by
A)
multiplying the loan amount by the lesser of sales price or
appraisal.
B)
,Unit 3: Real Estate Financing Principles- Unit
Exam Questions and Verified Answers, 100%
Score Guarantee Pass (Latest 2025)
dividing the down payment by the lesser of sales price or
appraisal.
C)
dividing the loan amount by the lesser of sales price or
appraisal.
D)
multiplying the down payment by the lesser of sales price or
appraisal. - Correct Answers ✅C
Which secondary market entity primarily provides a
secondary market for conventional loans?
A)
Farmer Mac
B)
Ginnie Mae
C)
Freddie Mac
D)
Fannie Mae - Correct Answers ✅C
If a borrower runs into financial trouble and believes he will
be unable to make future payments on his home, he should
A)
, Unit 3: Real Estate Financing Principles- Unit
Exam Questions and Verified Answers, 100%
Score Guarantee Pass (Latest 2025)
stop making payments and wait for the bank to send a final
notice demand.
B)
contact the lender immediately and discuss options for
reduced payments.
C)
move out and send the keys to the lender.
D)
begin putting payments on credit cards so the lender is paid
in full each month, while the card holder pays the minimum
credit card balance. - Correct Answers ✅B
If the foreclosure sales price exceeds the amount the
borrower owes (plus costs and fees), who receives the excess
money?
A)
The mortgage insurance company
B)
Fannie Mae or Freddie Mac
C)
The borrower
D)
The original lender - Correct Answers ✅C
