Champions Real Estate Finance Practice
Exam 2025 || Questions & Answers (100%
Verified)
The mortgage or deed of trust will contain ___________ that permits the lender to
demand that the entire balance of the loan be repaid if the borrower defaults.
Due on sale clause
Acceleration clause
Alienation clause
Balloon clause - ANSWER - Acceleration clause
One of the largest buyers of securities is _________.
Credit Unions
Pension Funds
China
American Public - ANSWER - Pension Funds
A company or individual that originates mortgage loans and sells them to investors,
while taking care of borrowers loan payments, records, taxes, and insurance.
Mortgage Bankers
Mortgage Brokers
Loan Originators
Secondary Market - ANSWER - Mortgage Bankers
The largest buyer of residential mortgages in the United States today.
FHLMC
GNMA
Banks
FNMA - ANSWER - FNMA
Provides cash advances to members, including community banks, thrifts, credit unions
and community development financial institutions.
FNMA
FHLMC
FHLB
Banks - ANSWER - FNMA
Loan amount is $337,500. Down payment is $37,500. What is the LTV?
10%
, 11%
90%
91% - ANSWER - 90%
The market where borrowers and mortgage originators come together to negotiate
terms and effectuate mortgage transactions.
Money market
Primary market
Secondary market
Origination market - ANSWER - Primary market
A collaboration among lenders to share in a loan too big to handle for any one of them.
Participation loan
Collaboration loan
Shared loan
Co-Operation loan
Next question - ANSWER - Participation loan
The lender or the mortgage broker must provide a GFE within ____________ of
receiving the application or other required information.
24 hours
3 days
One business day
3 business days - ANSWER - 3 business days
A ___________ is a form that lists basic information about the terms of a mortgage loan
for which the consumer applied.
HUD-1
Deed of Trust
Closing Statement
GFE - ANSWER - GFE
_____________ serves as a financial and administration resources that helps provide
essential services and affordable housing opportunities to Texans who qualify for this
assistance based on their income level.
USDA
FHA
TDHCA
CFPB - ANSWER - TDHCA
The Safe and Fair Enforcement for Mortgage Licensing Act (SAFE Act) has been
transferred to the ____________ for administration and enforcement.
Exam 2025 || Questions & Answers (100%
Verified)
The mortgage or deed of trust will contain ___________ that permits the lender to
demand that the entire balance of the loan be repaid if the borrower defaults.
Due on sale clause
Acceleration clause
Alienation clause
Balloon clause - ANSWER - Acceleration clause
One of the largest buyers of securities is _________.
Credit Unions
Pension Funds
China
American Public - ANSWER - Pension Funds
A company or individual that originates mortgage loans and sells them to investors,
while taking care of borrowers loan payments, records, taxes, and insurance.
Mortgage Bankers
Mortgage Brokers
Loan Originators
Secondary Market - ANSWER - Mortgage Bankers
The largest buyer of residential mortgages in the United States today.
FHLMC
GNMA
Banks
FNMA - ANSWER - FNMA
Provides cash advances to members, including community banks, thrifts, credit unions
and community development financial institutions.
FNMA
FHLMC
FHLB
Banks - ANSWER - FNMA
Loan amount is $337,500. Down payment is $37,500. What is the LTV?
10%
, 11%
90%
91% - ANSWER - 90%
The market where borrowers and mortgage originators come together to negotiate
terms and effectuate mortgage transactions.
Money market
Primary market
Secondary market
Origination market - ANSWER - Primary market
A collaboration among lenders to share in a loan too big to handle for any one of them.
Participation loan
Collaboration loan
Shared loan
Co-Operation loan
Next question - ANSWER - Participation loan
The lender or the mortgage broker must provide a GFE within ____________ of
receiving the application or other required information.
24 hours
3 days
One business day
3 business days - ANSWER - 3 business days
A ___________ is a form that lists basic information about the terms of a mortgage loan
for which the consumer applied.
HUD-1
Deed of Trust
Closing Statement
GFE - ANSWER - GFE
_____________ serves as a financial and administration resources that helps provide
essential services and affordable housing opportunities to Texans who qualify for this
assistance based on their income level.
USDA
FHA
TDHCA
CFPB - ANSWER - TDHCA
The Safe and Fair Enforcement for Mortgage Licensing Act (SAFE Act) has been
transferred to the ____________ for administration and enforcement.
