RMLO - Champions School of Real Estate Exam
Questions with 100% Correct Answers | Verified |
Updated (Actual Exam)
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Practice questions for this set
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market
Choose an answer
1 The _____ data approach is used as the best indicator of value for existing properties.
A market for the purchase and sale of existing mortgages designed to provide
2
greater liquidity for selling mortgages is called the ________.
If a lender has either an affiliate relationship or a direct ownership interest of more
3 than one percent in a provider of settlement services and they directly refer
business to the provider, it is per Reg X a _____.
The line of credit used by a mortgage lender to close and fund a loan before selling
4
it in the secondary market is called a ____.
, Don't know?
Terms in this set (109)
A market for the purchase and sale secondary market
of existing mortgages designed to
provide greater liquidity for selling
mortgages is called the ________.
The Federal agency established to Federal Housing Finance Agency (FHFA)
restore Fannie Mae and Freddie
Mac to a sound and solvent
financial condition is _____.
The ____ guarantee allows mortgage Gov't. National Mortgage Association - Ginnie
lenders to obtain a better price for Mae
their loan in the capital markets.
The federally chartered corporation Federal Home Loan Mortgage Corporation -
was established in 1970 for the Freddie Mac
purpose of purchasing mortgages
in the secondary market is known as
______.
The line of credit used by a warehouse line
mortgage lender to close and fund
a loan before selling it in the
secondary market is called a ____.
Today the _____ specializes as the mortgage broker
intermediary between the borrower
and the lender.
A _____ is a mortgage that is NOT conventional loan
guaranteed or insured by any
government agency.
, A ____ seeks to originate numerous mortgage banker
loan transactions and then sell
these mortgages to large investors.
The Good Faith Estimate disclosure reverse mortgage
form is used primarily for _____
transactions.
The disclosures related to the mortgage servicing
transfer of ______ are required for first
mortgage liens of federally related
mortgage loans, including all
financing transactions of such loans.
_____ sets limits on the amounts that a RESPA Section 10
lender may require a borrower to
put into an escrow account for
purposes of paying taxes, hazard
insurance and other charges
related to the property.
Payments in excess of the kickbacks
reasonable value of goods
provided or services rendered are
considered _____.
If a lender has either an affiliate affiliated business arrangement (ABA)
relationship or a direct ownership
interest of more than one percent in
a provider of settlement services
and they directly refer business to
the provider, it is per Reg X a _____.
Reg X requires the ______ must be initial escrow settlement statement
provided at settlement, or within 45
calendar days of settlement.
Questions with 100% Correct Answers | Verified |
Updated (Actual Exam)
Save
Practice questions for this set
Learn 1 /7 Study with Learn
market
Choose an answer
1 The _____ data approach is used as the best indicator of value for existing properties.
A market for the purchase and sale of existing mortgages designed to provide
2
greater liquidity for selling mortgages is called the ________.
If a lender has either an affiliate relationship or a direct ownership interest of more
3 than one percent in a provider of settlement services and they directly refer
business to the provider, it is per Reg X a _____.
The line of credit used by a mortgage lender to close and fund a loan before selling
4
it in the secondary market is called a ____.
, Don't know?
Terms in this set (109)
A market for the purchase and sale secondary market
of existing mortgages designed to
provide greater liquidity for selling
mortgages is called the ________.
The Federal agency established to Federal Housing Finance Agency (FHFA)
restore Fannie Mae and Freddie
Mac to a sound and solvent
financial condition is _____.
The ____ guarantee allows mortgage Gov't. National Mortgage Association - Ginnie
lenders to obtain a better price for Mae
their loan in the capital markets.
The federally chartered corporation Federal Home Loan Mortgage Corporation -
was established in 1970 for the Freddie Mac
purpose of purchasing mortgages
in the secondary market is known as
______.
The line of credit used by a warehouse line
mortgage lender to close and fund
a loan before selling it in the
secondary market is called a ____.
Today the _____ specializes as the mortgage broker
intermediary between the borrower
and the lender.
A _____ is a mortgage that is NOT conventional loan
guaranteed or insured by any
government agency.
, A ____ seeks to originate numerous mortgage banker
loan transactions and then sell
these mortgages to large investors.
The Good Faith Estimate disclosure reverse mortgage
form is used primarily for _____
transactions.
The disclosures related to the mortgage servicing
transfer of ______ are required for first
mortgage liens of federally related
mortgage loans, including all
financing transactions of such loans.
_____ sets limits on the amounts that a RESPA Section 10
lender may require a borrower to
put into an escrow account for
purposes of paying taxes, hazard
insurance and other charges
related to the property.
Payments in excess of the kickbacks
reasonable value of goods
provided or services rendered are
considered _____.
If a lender has either an affiliate affiliated business arrangement (ABA)
relationship or a direct ownership
interest of more than one percent in
a provider of settlement services
and they directly refer business to
the provider, it is per Reg X a _____.
Reg X requires the ______ must be initial escrow settlement statement
provided at settlement, or within 45
calendar days of settlement.
