Texas Real Estate Finance Questions &
Correct and Verified Answers.Latest
update2025/2026 Graded A+, Exams of
Nursing
The Texas agency that ensures that the banks, savings institutions, consumer credit grantors, and other
regulated entities chartered or licensed under state law operate as sound and responsible institutions is
called: - CORRECT ANSWERS Finance Commission of Texas
The act of pooling and investing the money of many people is called: - CORRECT ANSWERS
Intermediation
The process of assessing the lender's risk in giving a loan is called: - CORRECT ANSWERS Loan
underwriting
The borrower is also called the: - CORRECT ANSWERS Mortgagor
All of the following are common ways for a buyer to get assurance that a title is good except which? -
CORRECT ANSWERS Certificate of authenticity
What is the program that licenses, regulates, and examines the trust- and insurance-funded prepaid
funeral contract sellers to ensure compliance with the Finance and Administrative Codes? - CORRECT
ANSWERS The Prepaid Funeral Contract program
Which of the following are banks prohibited from doing with high-cost mortgages? - CORRECT
ANSWERS Issue a prepayment penalty
Implement a balloon payment
,Issue a late fee of more than 4%
FHLB stands for: - CORRECT ANSWERS Federal Home Loan Bank System
Which agency manages the debt of the federal government? - CORRECT ANSWERS United
States Treasury
OCC stands for: - CORRECT ANSWERS Office of the Comptroller of the Currency
FDIC stands for: - CORRECT ANSWERS Federal Deposit Insurance Corporation
Banks may also borrow from other banks. The interest rate that banks pay other banks is called the: -
CORRECT ANSWERS Federal funds rate
Which Act ushered in the Farm Credit System (FCS)? - CORRECT ANSWERS The Federal Farm
Loan Act
How long does a person who believes he or she has been discriminated against have to file a complaint
with HUD? - CORRECT ANSWERS 1 year
Up to what size tax credit is available to qualified homebuyers through the Mortgage Credit Certificate
Program? - CORRECT ANSWERS $2,000
Which of the following groups of people would be eligible for the Homes for Texas Heroes program? -
CORRECT ANSWERS Public Security Officers
, In 1988, two categories of protected classes were added to those protected classes already covered
under the Fair Housing Act for a total of seven federally-protected classes. Which of the following
classes were added? - CORRECT ANSWERS Familial Status and Handicapped
What Act, in 1974, added sex to the list of prohibited discriminations under the Fair Housing Act? -
CORRECT ANSWERS Housing and Community Development Act
The Federal Farm Loan Act of 1916 allows Farm Loan Association members to borrow ____ of the value
of their land and ___ of the value of improvements. - CORRECT ANSWERS 50%; 20%
What is ECOA? - CORRECT ANSWERS A law prohibiting lending discrimination
What was the first law to prohibit discrimination in housing based on race? - CORRECT ANSWERS
The Civil Rights Act of 1866
What is the minimum pool size for manufactured homes under Ginnie Mae II MBS? - CORRECT
ANSWERS $350,000
What type of credit report uses rental and utility payments to create a "report card" that grades users
on a scale from A to D? - CORRECT ANSWERS The Payment Reporting Builds Credit
A REMIC - CORRECT ANSWERS can be a corporation, trust, association, or partnership.
Under Fannie Mae guidelines, if the borrower has a 5-percent down payment, how much can a seller
contribute to closing costs? - CORRECT ANSWERS 3%
Under Freddie Mac guidelines, - CORRECT ANSWERS if the borrower has a 10 percent down
payment, a seller can contribute up to 6 percent of the closing costs.
Correct and Verified Answers.Latest
update2025/2026 Graded A+, Exams of
Nursing
The Texas agency that ensures that the banks, savings institutions, consumer credit grantors, and other
regulated entities chartered or licensed under state law operate as sound and responsible institutions is
called: - CORRECT ANSWERS Finance Commission of Texas
The act of pooling and investing the money of many people is called: - CORRECT ANSWERS
Intermediation
The process of assessing the lender's risk in giving a loan is called: - CORRECT ANSWERS Loan
underwriting
The borrower is also called the: - CORRECT ANSWERS Mortgagor
All of the following are common ways for a buyer to get assurance that a title is good except which? -
CORRECT ANSWERS Certificate of authenticity
What is the program that licenses, regulates, and examines the trust- and insurance-funded prepaid
funeral contract sellers to ensure compliance with the Finance and Administrative Codes? - CORRECT
ANSWERS The Prepaid Funeral Contract program
Which of the following are banks prohibited from doing with high-cost mortgages? - CORRECT
ANSWERS Issue a prepayment penalty
Implement a balloon payment
,Issue a late fee of more than 4%
FHLB stands for: - CORRECT ANSWERS Federal Home Loan Bank System
Which agency manages the debt of the federal government? - CORRECT ANSWERS United
States Treasury
OCC stands for: - CORRECT ANSWERS Office of the Comptroller of the Currency
FDIC stands for: - CORRECT ANSWERS Federal Deposit Insurance Corporation
Banks may also borrow from other banks. The interest rate that banks pay other banks is called the: -
CORRECT ANSWERS Federal funds rate
Which Act ushered in the Farm Credit System (FCS)? - CORRECT ANSWERS The Federal Farm
Loan Act
How long does a person who believes he or she has been discriminated against have to file a complaint
with HUD? - CORRECT ANSWERS 1 year
Up to what size tax credit is available to qualified homebuyers through the Mortgage Credit Certificate
Program? - CORRECT ANSWERS $2,000
Which of the following groups of people would be eligible for the Homes for Texas Heroes program? -
CORRECT ANSWERS Public Security Officers
, In 1988, two categories of protected classes were added to those protected classes already covered
under the Fair Housing Act for a total of seven federally-protected classes. Which of the following
classes were added? - CORRECT ANSWERS Familial Status and Handicapped
What Act, in 1974, added sex to the list of prohibited discriminations under the Fair Housing Act? -
CORRECT ANSWERS Housing and Community Development Act
The Federal Farm Loan Act of 1916 allows Farm Loan Association members to borrow ____ of the value
of their land and ___ of the value of improvements. - CORRECT ANSWERS 50%; 20%
What is ECOA? - CORRECT ANSWERS A law prohibiting lending discrimination
What was the first law to prohibit discrimination in housing based on race? - CORRECT ANSWERS
The Civil Rights Act of 1866
What is the minimum pool size for manufactured homes under Ginnie Mae II MBS? - CORRECT
ANSWERS $350,000
What type of credit report uses rental and utility payments to create a "report card" that grades users
on a scale from A to D? - CORRECT ANSWERS The Payment Reporting Builds Credit
A REMIC - CORRECT ANSWERS can be a corporation, trust, association, or partnership.
Under Fannie Mae guidelines, if the borrower has a 5-percent down payment, how much can a seller
contribute to closing costs? - CORRECT ANSWERS 3%
Under Freddie Mac guidelines, - CORRECT ANSWERS if the borrower has a 10 percent down
payment, a seller can contribute up to 6 percent of the closing costs.
