RELE 1319: Texas real estate finance
final exam review Questions and
Answers (Solved Papers).
Use of borrowed funds - CORRECT ANSWERS Define financial leverage
Cancel loan application within 3 business days - CORRECT ANSWERS What is the right of
rescission under Regulation Z?
Acquire and redevelop foreclosed properties - CORRECT ANSWERS What is the goal of the
neighborhood stabilization program?
FHFA - CORRECT ANSWERS What agency regulates Fannie Mae and Freddie Mac?
Banker makes loan, broker brings borrower and lender together - CORRECT ANSWERS What is
the difference between a mortgage banker and a mortgage broker?
Specific lien: 1 property; general lien > 1 property - CORRECT ANSWERS What is the difference
between a specific lien and a general lien?
Can't usually make payment; need to refinance - CORRECT ANSWERS What is the drawback of
a loan with a balloon payment?
HUD - CORRECT ANSWERS What entity administers the Federal Housing Administration?
Damaged credit; harder and more expensive to get loans possible tax consequences - CORRECT
ANSWERS What future impacts might a foreclosure have on a borrower?
, $ yrs
$10000 or less / 10 yrs - CORRECT ANSWERS The home improvement program offered by the
Texas Veterans Land board is for up to what dollar amount and for what length term?
Buying and selling treasury and other gov't securities - CORRECT ANSWERS What is the
primary activity of the Federal Reserve's open market operations?
Fannie / Freddie underwriting guidelines - CORRECT ANSWERS Define conforming loans
Fannie / Freddie
28% / 36%
FHA
31% / 43%
VA
41% - CORRECT ANSWERS What are the debt-to-income ratios used by the FHA and the VA?
What ratios are used by Fannie Mae / Freddie Mac for conventional loans?
Race, color, religion, national origin, sex, marital status, age, public assistance - CORRECT ANSWERS
What are the protected classes under the Equal Credit Opportunity Act?
Less housing starts = negative
more housing starts = positive - CORRECT ANSWERS How does the number of new home
construction starts relate to the overall health of the economy?
final exam review Questions and
Answers (Solved Papers).
Use of borrowed funds - CORRECT ANSWERS Define financial leverage
Cancel loan application within 3 business days - CORRECT ANSWERS What is the right of
rescission under Regulation Z?
Acquire and redevelop foreclosed properties - CORRECT ANSWERS What is the goal of the
neighborhood stabilization program?
FHFA - CORRECT ANSWERS What agency regulates Fannie Mae and Freddie Mac?
Banker makes loan, broker brings borrower and lender together - CORRECT ANSWERS What is
the difference between a mortgage banker and a mortgage broker?
Specific lien: 1 property; general lien > 1 property - CORRECT ANSWERS What is the difference
between a specific lien and a general lien?
Can't usually make payment; need to refinance - CORRECT ANSWERS What is the drawback of
a loan with a balloon payment?
HUD - CORRECT ANSWERS What entity administers the Federal Housing Administration?
Damaged credit; harder and more expensive to get loans possible tax consequences - CORRECT
ANSWERS What future impacts might a foreclosure have on a borrower?
, $ yrs
$10000 or less / 10 yrs - CORRECT ANSWERS The home improvement program offered by the
Texas Veterans Land board is for up to what dollar amount and for what length term?
Buying and selling treasury and other gov't securities - CORRECT ANSWERS What is the
primary activity of the Federal Reserve's open market operations?
Fannie / Freddie underwriting guidelines - CORRECT ANSWERS Define conforming loans
Fannie / Freddie
28% / 36%
FHA
31% / 43%
VA
41% - CORRECT ANSWERS What are the debt-to-income ratios used by the FHA and the VA?
What ratios are used by Fannie Mae / Freddie Mac for conventional loans?
Race, color, religion, national origin, sex, marital status, age, public assistance - CORRECT ANSWERS
What are the protected classes under the Equal Credit Opportunity Act?
Less housing starts = negative
more housing starts = positive - CORRECT ANSWERS How does the number of new home
construction starts relate to the overall health of the economy?
