Bretmax

The Government National Mortgage Association (GNMA), or Ginnie Mae - ANSWER - , was established in the United States in 1968 to promote home ownership. It is a wholly-owned government association that operates a mortgage-backed securities program designed to facilitate the flow of capital into the housing industry. ____approved private institutions issue mortgage-backed securities with payments that are guaranteed even if borrowers or issuers default on their obligations. ___ securities are the ...

Disintermediation - ANSWER - the act of moving funds from one investment arena to another REMIC - ANSWER - holds mortgages in trust for the benefit of investors Conforming Loan - ANSWER - Adheres to Fannie Mae and Freddie Mac requirement for purchase of a mortgage Yield - ANSWER - return on an investment Redlining - ANSWER - The practice of refusing to provide financing in a particular area because of location SML - ANSWER - Responsible for the chartering, regulation and supervisi...

Prepayment Clause - ANSWER - A clause stating that the borrower can pay the entire amount or the stated amount prior to the due date in the note and whether there will be a penalty associated with that prepayment. Subordination Clause - ANSWER - A clause allowing a lender to move to or take a lower lien position Assumption Clause - ANSWER - A clause outlining the obligations of the original borrower and a new borrower in the event the loan is assumed Straight Assumption - ANSWER - A new...

Insurance Companies - ANSWER - These receive periodic, lump sum payments from individuals or organizations in exchange for a promise to make future payments if certain events occur. Pension Funds - ANSWER - These pool the contributions of employees and invest the funds similarly to insurance companies. 1970 - ANSWER - Alternative mortgage instruments were introduced after what year? Economic Recovery Tax Act of 1981 - ANSWER - The act congress passed in the 80s that majorly increased ta...

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,...

_______ was established in 1970 for the purpose of purchasing mortgages in the Secondary Market. - ANSWER - Freddie Mac A claim, lien, charge, or liability attached to and binding real property is an - ANSWER - encumbrance A ______ is a right given by law to creditors to have debts paid out of the property of a defaulting debater. - ANSWER - Lien A mortgage is a pledge of real estate as security for repayment of debt in which the borrow is known as ______ - ANSWER - Mortgagor Which o...

The creditor must ensure that the consumer receives the Closing Disclosure form at lease ________ days before the consumer closes the loan - ANSWER - 3 Business days Freddie MAC is a federally chartered corporation for the purpose of... - ANSWER - Purchasing mortgages in the secondary market. Created in the 1970 to purchase mortgages in the secondary market - ANSWER - Freddie MAC The market where borrowers and mortgage lender come together to create and negotiate terms of a mortgage tra...

Construction Loan - ANSWER - short term financing with funds advanced periodically during the stages of construction - a term loan Prepayment Clause - ANSWER - A clause stating that the borrower can pay the entire amount or the stated amount prior to the due date in the note and whether there will be a penalty associated with that prepayment Straight Loan - ANSWER - A loan with payments of interest only until the end of the term, when the entire principal is repaid in one lump sum- a zero ...

ects principal and interest plus a percent of the profits on the investment property. - ANSWER - Participation Loan An individual who coordinates the loan application process for the lender. - ANSWER - Loan Processor A standardized conventional loan written on uniform documents that meets the purchase requirements of Fannie Mae and Freddie Mac - both loan amount and borrower characteristics must meet the guidelines. - ANSWER - Conforming Loan The percent of monthly gross income that can...

What is the most common viral pathogen causing AGE in pediatrics? - ANSWER - Rotavirus. This has been greatly reduced since the introduction of the rotavirus vaccine. T or F: Stool studies are indicated in the absence of bloody diarrhea or systemic disease - ANSWER - False T or F: A CBC will help distinguish between viral and bacterial AGE - ANSWER - False When are stool studies warranted? - ANSWER - Severe or prolonged diarrhea, a fever > 38.5ºC, bloody stools or stools that test p...