FHCE 3100 MOORMAN NEWEST EXAM 2025 | ALL
QUESTIONS AND CORRECT ANSWERS | GRADED
A+ | VERIFIED ANSWERS | LATEST VERSION
What are the two largest expenditures for most consumers? - ANSWER✔✔-Housing
and transportation
What is the national homeownership rate? - ANSWER✔✔-64.4%
What does the Discrimination Fair Housing act prohibit discrimination on the basis of? -
ANSWER✔✔-race or color, religion, sex, national origin, familial status, disability
What were people told homeownership might do for them? - ANSWER✔✔-create social
and financial stability, created safer neighborhoods, create smarter children who do
better in school
When did the "own ur own house" government home ownership promotion start? -
ANSWER✔✔-in 1922 under then-secretary of commerce later president Herbert Hoover
During the great depression, what did US home ownership drop to? - ANSWER✔✔-in
1940, after the great bust of the 19230s, homeownership dropped to 44%
COPYRIGHT © 2025 BY OLIVIA GREENWAYS, ALL RIGHTS RESERVED 1
,Under which President was the Federal Home Loan Banks (FHL) created? -
ANSWER✔✔-Hoover in 1932
What was the Federal Home Loans Banks (FHL)? - ANSWER✔✔-12 government-
sponsored banks that provided stable, on-demand, low-cost funding to American
financial insinuations (non individuals) for home mortgage loans, small business, rural,
agricultural, and economic development lending.
Who created the Home Owner's Loan Corporation? - ANSWER✔✔-Roosevelt's
administration's New create in 1933 -- its purpose was to refinance home mortgages
currently in default to prevent foreclosures
In what year did the Home Owner's Loan Corporation dissolve? - ANSWER✔✔-in 1951
the FHL dissolved with a small cumulative net profit
What did the National Housing Act of 1934? - ANSWER✔✔-enacted on June 28, 1934,
also called the Capehart Act, was part of the New Deal passed during the Great
Depression in order to make housing and home mortgages more affordable
What Act created the Federal Housing Administration (FHA)? - ANSWER✔✔-The
National Housing Act of 1934
What are the goals of the Federal Housing Administration (FHA)? - ANSWER✔✔-
improve housing standards and conditions, provide an adequate home financing
system through insurance of mortgage loans, and to stabilize the mortgage market
COPYRIGHT © 2025 BY OLIVIA GREENWAYS, ALL RIGHTS RESERVED 2
,When and Why was the Federal Savings and Loan Deposit Insurance? - ANSWER✔✔-
the FSLIC was created as part of the National Housing Act of 1934 to insure deposits in
savings and loans a year after the FDIC was created to insure deposits in commercial
banks
When did the FSLIC dissolve? - ANSWER✔✔-in the 1980s, its responsibilities were
transferred to the Federal Deposit Insurance Corporation
What is the FDIC? - ANSWER✔✔-The FDIC is a US government corporation operating
as an independent agency created by the US Banking act of 1933
What was the purpose of the FDIC when it was created? - ANSWER✔✔-to calm
consumers, and encourage buying/investing
What is the current level of protection for each deposit ownership category in each
insured banks? - ANSWER✔✔-$250,000
When and Why was the Federal Housing Authority created? - ANSWER✔✔-the US
housing authority was created during 1937 within the US department of the Interior by
the Housing Act of 1937 as part of Roosevelt's New Deal
What was the FHA designed to do? - ANSWER✔✔-lend money to the states or
communities for low cost housing construction
COPYRIGHT © 2025 BY OLIVIA GREENWAYS, ALL RIGHTS RESERVED 3
, When was the Federal National Mortgage Association (FNMA) founded? -
ANSWER✔✔-in 1938
What is the purpose of FNMA? - ANSWER✔✔-It is a government sponsored enterprise
GSE. It's purpose is to expand the secondary mortgage market by securitizing
mortgages in the form of mortgage backed securities (MBS), allowing lenders to
reinvest their assets into more lending and in effect increasing the number of lenders in
the mortgage market
In what year did FNMA become a publicly traded company? - ANSWER✔✔-1968
Why was the Federal Home Loan Mortgage Corporation (Freddie Mac) created? -
ANSWER✔✔-the FHLMC was created in 1970 to expand the secondary market for
mortgages. It is a public government-sponsored enterprise (GSE). Along with other
GSEs, Freddie Mac buys mortgages on the secondary market, pools them, and sells
them as a mortgage backed security to investors on the open market
What type of mortgage has favorable mortgage interest rates? - ANSWER✔✔-a 30 year
mortgage
When owning a home, what is tax deductible? - ANSWER✔✔-mortgage interest paid
property tax
interest on 2nd mortgage (HELOC)
COPYRIGHT © 2025 BY OLIVIA GREENWAYS, ALL RIGHTS RESERVED 4
QUESTIONS AND CORRECT ANSWERS | GRADED
A+ | VERIFIED ANSWERS | LATEST VERSION
What are the two largest expenditures for most consumers? - ANSWER✔✔-Housing
and transportation
What is the national homeownership rate? - ANSWER✔✔-64.4%
What does the Discrimination Fair Housing act prohibit discrimination on the basis of? -
ANSWER✔✔-race or color, religion, sex, national origin, familial status, disability
What were people told homeownership might do for them? - ANSWER✔✔-create social
and financial stability, created safer neighborhoods, create smarter children who do
better in school
When did the "own ur own house" government home ownership promotion start? -
ANSWER✔✔-in 1922 under then-secretary of commerce later president Herbert Hoover
During the great depression, what did US home ownership drop to? - ANSWER✔✔-in
1940, after the great bust of the 19230s, homeownership dropped to 44%
COPYRIGHT © 2025 BY OLIVIA GREENWAYS, ALL RIGHTS RESERVED 1
,Under which President was the Federal Home Loan Banks (FHL) created? -
ANSWER✔✔-Hoover in 1932
What was the Federal Home Loans Banks (FHL)? - ANSWER✔✔-12 government-
sponsored banks that provided stable, on-demand, low-cost funding to American
financial insinuations (non individuals) for home mortgage loans, small business, rural,
agricultural, and economic development lending.
Who created the Home Owner's Loan Corporation? - ANSWER✔✔-Roosevelt's
administration's New create in 1933 -- its purpose was to refinance home mortgages
currently in default to prevent foreclosures
In what year did the Home Owner's Loan Corporation dissolve? - ANSWER✔✔-in 1951
the FHL dissolved with a small cumulative net profit
What did the National Housing Act of 1934? - ANSWER✔✔-enacted on June 28, 1934,
also called the Capehart Act, was part of the New Deal passed during the Great
Depression in order to make housing and home mortgages more affordable
What Act created the Federal Housing Administration (FHA)? - ANSWER✔✔-The
National Housing Act of 1934
What are the goals of the Federal Housing Administration (FHA)? - ANSWER✔✔-
improve housing standards and conditions, provide an adequate home financing
system through insurance of mortgage loans, and to stabilize the mortgage market
COPYRIGHT © 2025 BY OLIVIA GREENWAYS, ALL RIGHTS RESERVED 2
,When and Why was the Federal Savings and Loan Deposit Insurance? - ANSWER✔✔-
the FSLIC was created as part of the National Housing Act of 1934 to insure deposits in
savings and loans a year after the FDIC was created to insure deposits in commercial
banks
When did the FSLIC dissolve? - ANSWER✔✔-in the 1980s, its responsibilities were
transferred to the Federal Deposit Insurance Corporation
What is the FDIC? - ANSWER✔✔-The FDIC is a US government corporation operating
as an independent agency created by the US Banking act of 1933
What was the purpose of the FDIC when it was created? - ANSWER✔✔-to calm
consumers, and encourage buying/investing
What is the current level of protection for each deposit ownership category in each
insured banks? - ANSWER✔✔-$250,000
When and Why was the Federal Housing Authority created? - ANSWER✔✔-the US
housing authority was created during 1937 within the US department of the Interior by
the Housing Act of 1937 as part of Roosevelt's New Deal
What was the FHA designed to do? - ANSWER✔✔-lend money to the states or
communities for low cost housing construction
COPYRIGHT © 2025 BY OLIVIA GREENWAYS, ALL RIGHTS RESERVED 3
, When was the Federal National Mortgage Association (FNMA) founded? -
ANSWER✔✔-in 1938
What is the purpose of FNMA? - ANSWER✔✔-It is a government sponsored enterprise
GSE. It's purpose is to expand the secondary mortgage market by securitizing
mortgages in the form of mortgage backed securities (MBS), allowing lenders to
reinvest their assets into more lending and in effect increasing the number of lenders in
the mortgage market
In what year did FNMA become a publicly traded company? - ANSWER✔✔-1968
Why was the Federal Home Loan Mortgage Corporation (Freddie Mac) created? -
ANSWER✔✔-the FHLMC was created in 1970 to expand the secondary market for
mortgages. It is a public government-sponsored enterprise (GSE). Along with other
GSEs, Freddie Mac buys mortgages on the secondary market, pools them, and sells
them as a mortgage backed security to investors on the open market
What type of mortgage has favorable mortgage interest rates? - ANSWER✔✔-a 30 year
mortgage
When owning a home, what is tax deductible? - ANSWER✔✔-mortgage interest paid
property tax
interest on 2nd mortgage (HELOC)
COPYRIGHT © 2025 BY OLIVIA GREENWAYS, ALL RIGHTS RESERVED 4
