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REE4204 FINAL EXAM QUESTIONS AND ANSWERS

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REE4204 FINAL EXAM QUESTIONS AND ANSWERS

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REE4204 FINAL EXAM QUESTIONS AND
ANSWERS


Which of the following contribute to protecting the mortgage investors against
default risk? - ✔✔-Property hazard insurance and title insurance
-Mortgage insurance and loan guarantee
-Standardized underwriting processes



Which of the following is a guarantee of GNMA (Ginnie Mae)? - ✔✔Timely
payments of principle and interest



Which of the following is true about CMO's - ✔✔All the principal payments
are passed-through to investors at the highest class at the time.

Default occurs when the borrow fails to: - ✔✔-make payment on time
-repay the interest on the loan
-repay the principle of the loan



The fact that a lender pays special attention to control ratio between the borrower's
total housing expense and income is consistent to - ✔✔the ability to pay theory

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