AYPO REAL ESTATE UPDATED COMPREHENSIVE
QUESTIONS AND SOLUTIONS GUARANTEE A+
✔✔What is the name of the state sponsored program through the TDHCA that offers
more competitive fits interest, and an annual percentage rates to qualified first time
homebuyers while providing down payment and closing cost assistance of up to 5% of
the mortgage loan? - ✔✔My first text is home by the Texas homebuyer program
✔✔Which of these is not required to request a loan estimate from a lender? -
✔✔Borrower employment history
✔✔What is required to request a loan estimate from a lender? - ✔✔Name, income,
Social Security number, property address, property value estimate, and amount to
borrow
✔✔In an effort to combat corruption and insider trading, the Dodd-Frank act included a
______ provision, allowing individuals to report security violations to the government for
financial reward - ✔✔whistleblowing
✔✔Which of these acts revised the mortgage lending disclosures effective as of
October 2015 - ✔✔TILA and RESPA
✔✔The safe act establishes a minimum standard for licensing of - ✔✔Residential real
estate agents, residential mortgage, brokers, residential mortgage loan or originators
✔✔Which of these is not a focus of the closing disclosure? - ✔✔Inspection and repair
agreements
✔✔What is the point of the closing disclosure? - ✔✔Property and borrower,
identification, inspection, and repair agreement, loan interest, and terms
✔✔What are some housing resources in Texas? - ✔✔HUD, TSAHC, TDHCA
✔✔Which of these is nine a government sponsored enterprise - ✔✔Gennie Mac
✔✔Farmer Mac offers programs, including - ✔✔variable rate mortgages
✔✔______ are quasi-governmental, privately-held entities that were created to assist
and improve the flow of credit to certain sectors of the economy or to otherwise expedite
delivery of essential public services. - ✔✔government-sponsored enterprises (GSEs)
✔✔Which of these is allowed to be a part of the pool of assets forming a REMIC? -
✔✔Single-family mortgages
, ✔✔A conforming loan is best described by which of these choices? - ✔✔A mortgage
that is within the established dollar limit set for FANNIE MAE and FREDDIE MAC
supported loans
✔✔The special purpose investment vehicle called a REMIC stands for which of the
following selections? - ✔✔Real estate mortgage investment conduit
✔✔Freddie Mac was formed to - ✔✔Provide competition for Fannie Mae
✔✔Currently, Fanny Mae's primary activity is to - ✔✔Purchase conforming loans and
bundle them
✔✔IPO's take place in the ______ market while MBS's sales generally occur in the
______ market - ✔✔Primary, secondary
✔✔What historic US event led to the formation of the FHA and other organizations
supporting the mortgage market? - ✔✔Great Depression
✔✔What do insurance companies have to do with the housing market? - ✔✔They lend
out their capital for mortgages through other outlets
✔✔Which is not generally true of commercial banks? - ✔✔Their primary focus is on
underwriting and the securities trade
✔✔Mortgages and mortgage back securities make up approximately what percent of
the pension fund holdings? - ✔✔3%
✔✔Life insurance companies currently are leaning more toward _____ mortgage loans -
✔✔commercial
✔✔The differences between mortgage, bankers, and mortgage brokers are best
described by which of the following? - ✔✔The mortgage broker can work with multiple
lenders and only get paid if the loan closes, while the mortgage bankers are salaried
employees of the lender and work only with that lender
✔✔The types of loan that a commercial bank issues - ✔✔to vary
✔✔_____ is one of the more common non-banking activities undertaken by some banks
- ✔✔insurance
✔✔Which of the following is a common characteristic of Savings and Loan banks? -
✔✔They are locally owned and privately managed
QUESTIONS AND SOLUTIONS GUARANTEE A+
✔✔What is the name of the state sponsored program through the TDHCA that offers
more competitive fits interest, and an annual percentage rates to qualified first time
homebuyers while providing down payment and closing cost assistance of up to 5% of
the mortgage loan? - ✔✔My first text is home by the Texas homebuyer program
✔✔Which of these is not required to request a loan estimate from a lender? -
✔✔Borrower employment history
✔✔What is required to request a loan estimate from a lender? - ✔✔Name, income,
Social Security number, property address, property value estimate, and amount to
borrow
✔✔In an effort to combat corruption and insider trading, the Dodd-Frank act included a
______ provision, allowing individuals to report security violations to the government for
financial reward - ✔✔whistleblowing
✔✔Which of these acts revised the mortgage lending disclosures effective as of
October 2015 - ✔✔TILA and RESPA
✔✔The safe act establishes a minimum standard for licensing of - ✔✔Residential real
estate agents, residential mortgage, brokers, residential mortgage loan or originators
✔✔Which of these is not a focus of the closing disclosure? - ✔✔Inspection and repair
agreements
✔✔What is the point of the closing disclosure? - ✔✔Property and borrower,
identification, inspection, and repair agreement, loan interest, and terms
✔✔What are some housing resources in Texas? - ✔✔HUD, TSAHC, TDHCA
✔✔Which of these is nine a government sponsored enterprise - ✔✔Gennie Mac
✔✔Farmer Mac offers programs, including - ✔✔variable rate mortgages
✔✔______ are quasi-governmental, privately-held entities that were created to assist
and improve the flow of credit to certain sectors of the economy or to otherwise expedite
delivery of essential public services. - ✔✔government-sponsored enterprises (GSEs)
✔✔Which of these is allowed to be a part of the pool of assets forming a REMIC? -
✔✔Single-family mortgages
, ✔✔A conforming loan is best described by which of these choices? - ✔✔A mortgage
that is within the established dollar limit set for FANNIE MAE and FREDDIE MAC
supported loans
✔✔The special purpose investment vehicle called a REMIC stands for which of the
following selections? - ✔✔Real estate mortgage investment conduit
✔✔Freddie Mac was formed to - ✔✔Provide competition for Fannie Mae
✔✔Currently, Fanny Mae's primary activity is to - ✔✔Purchase conforming loans and
bundle them
✔✔IPO's take place in the ______ market while MBS's sales generally occur in the
______ market - ✔✔Primary, secondary
✔✔What historic US event led to the formation of the FHA and other organizations
supporting the mortgage market? - ✔✔Great Depression
✔✔What do insurance companies have to do with the housing market? - ✔✔They lend
out their capital for mortgages through other outlets
✔✔Which is not generally true of commercial banks? - ✔✔Their primary focus is on
underwriting and the securities trade
✔✔Mortgages and mortgage back securities make up approximately what percent of
the pension fund holdings? - ✔✔3%
✔✔Life insurance companies currently are leaning more toward _____ mortgage loans -
✔✔commercial
✔✔The differences between mortgage, bankers, and mortgage brokers are best
described by which of the following? - ✔✔The mortgage broker can work with multiple
lenders and only get paid if the loan closes, while the mortgage bankers are salaried
employees of the lender and work only with that lender
✔✔The types of loan that a commercial bank issues - ✔✔to vary
✔✔_____ is one of the more common non-banking activities undertaken by some banks
- ✔✔insurance
✔✔Which of the following is a common characteristic of Savings and Loan banks? -
✔✔They are locally owned and privately managed
