Oregon Real Estate Exam Questions With
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QUESTIONS AND ANSWERS
Primary Mortgage Market. ANSWER -Where lenders originate mortgage loans by lending
funds directly to borrowers.
Mortgage Broker. ANSWER -A person who brings borrowers and lenders together for a
real estate loan.
Mortgage Banker. ANSWER -A person who originates, finances, and closes mortgage loan
transactions, and then sells the mortgage to large investors in the second market.
Warehousing. ANSWER -Assembling loans and pledging them with a commercial bank to
serve as securtiy for a line of credit.
Commercial Banks. ANSWER -Banks that perfer short term commercial and consumer
loans to lon-term mortgages. Most commonly active in construction loans, interim
financing of mortgage bankers, home improvement loans, and home equity loans as opposed
to home equity loans.
Savings Banks. ANSWER -Invest in loans for single-family properties as well as
apartments, shopping centers, office buildings and commercial structures.
Life Insurance Companies. ANSWER -Activly engaged in financing but not generally with
borrowers. Invest major portions of their assests in long-term real estate loans, normally
for large commercial, industrial and apartment projects. State chartered.
, Pension Fund. ANSWER -Invest heavily in government and corporate securities, amny will
aquire large blocks of mortgages in the secondary market and originate loans through
mortgage bankers and mortgage brokers.
Credit Unions. ANSWER -Specialize in short-term consumer loans but may also provide
funds for long-term financing of real estate, equity loans and home improvement loans to
their members.
Finance Companies. ANSWER -Specialize in comsumer loans but may also make real estate
loans, usually second mortgage loans for residential property.
Real Estate Investment Trust(REITs). ANSWER -Invest in construction and land
development loans for multi-family or commercial properties
Farm Credit Bank. ANSWER -Makes loans to farmers and ranchers for the purpose of
buying and maintaining homes or land to be used for farming.
Private Individuals. ANSWER -People such as investores, relatives of the purchaser, or
even the seller of the property, can be a source of income.
Discount points. ANSWER -Prepaid interest charges, or interest rate equilization factors,
used to increase the yield to the lender. (one discount point=1%xloan)
Secondary Mortgage Market. ANSWER -Market in which existing loans are bought, sold
or borrowed against.
Mortgage Warehousing. ANSWER -A lender, usually a mortgage banker, assembles a
number ofloans into a portfolio and offers the package as security for a short-term loan or
line of credit from another lender, such as a commercial bank.
Conforming loans. ANSWER -A loan that meets Fannie Mae and Freddie Mac standards
Jumbo Loan. ANSWER -A loand for a amount in excess of the maximum Fannie Mae and
Freddie Mac loan amount
Verified Answers 100% Correct Answers
Already Graded A+
QUESTIONS AND ANSWERS
Primary Mortgage Market. ANSWER -Where lenders originate mortgage loans by lending
funds directly to borrowers.
Mortgage Broker. ANSWER -A person who brings borrowers and lenders together for a
real estate loan.
Mortgage Banker. ANSWER -A person who originates, finances, and closes mortgage loan
transactions, and then sells the mortgage to large investors in the second market.
Warehousing. ANSWER -Assembling loans and pledging them with a commercial bank to
serve as securtiy for a line of credit.
Commercial Banks. ANSWER -Banks that perfer short term commercial and consumer
loans to lon-term mortgages. Most commonly active in construction loans, interim
financing of mortgage bankers, home improvement loans, and home equity loans as opposed
to home equity loans.
Savings Banks. ANSWER -Invest in loans for single-family properties as well as
apartments, shopping centers, office buildings and commercial structures.
Life Insurance Companies. ANSWER -Activly engaged in financing but not generally with
borrowers. Invest major portions of their assests in long-term real estate loans, normally
for large commercial, industrial and apartment projects. State chartered.
, Pension Fund. ANSWER -Invest heavily in government and corporate securities, amny will
aquire large blocks of mortgages in the secondary market and originate loans through
mortgage bankers and mortgage brokers.
Credit Unions. ANSWER -Specialize in short-term consumer loans but may also provide
funds for long-term financing of real estate, equity loans and home improvement loans to
their members.
Finance Companies. ANSWER -Specialize in comsumer loans but may also make real estate
loans, usually second mortgage loans for residential property.
Real Estate Investment Trust(REITs). ANSWER -Invest in construction and land
development loans for multi-family or commercial properties
Farm Credit Bank. ANSWER -Makes loans to farmers and ranchers for the purpose of
buying and maintaining homes or land to be used for farming.
Private Individuals. ANSWER -People such as investores, relatives of the purchaser, or
even the seller of the property, can be a source of income.
Discount points. ANSWER -Prepaid interest charges, or interest rate equilization factors,
used to increase the yield to the lender. (one discount point=1%xloan)
Secondary Mortgage Market. ANSWER -Market in which existing loans are bought, sold
or borrowed against.
Mortgage Warehousing. ANSWER -A lender, usually a mortgage banker, assembles a
number ofloans into a portfolio and offers the package as security for a short-term loan or
line of credit from another lender, such as a commercial bank.
Conforming loans. ANSWER -A loan that meets Fannie Mae and Freddie Mac standards
Jumbo Loan. ANSWER -A loand for a amount in excess of the maximum Fannie Mae and
Freddie Mac loan amount
