TX Real Estate Finance – Champions Questions And Answers 100% Correct!

lenders bear less risk in making an FHA loan beacuse the FHA - ANSWERSFHA is default insurance that will pay a claim to a lender in the event of a default by the homeowner portfolio loan - ANSWERSretained by the lender and it is not sold in the secondary market. commercial banks are active in residential mortgage lending an appropriate loan for a property in need of significant rehabilitation would be - ANSWERSconstruction to permanent loan a borrower plans to be in a home long term, or the borrower is averse to risk, the best choice mortgage is a ____________ - ANSWERSfixed-rate mortgage Freddie Mac - ANSWERSestablished in 1970 for the purpose of purchasing mortgages in the secondary market initial rate - ANSWERSthe fixed rate charged on an adjustable rate mortgage (ARM) until the first adjustment date gift funds cannot come from __________ - ANSWERScannot come from a party related to the transaction (agent, builder, broker, seller) or be cash on hand Torrens System - ANSWERSa property owner obtains a certificate munch like an auto title that is recorded in public records