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Real Estate Finance 15th edition Flashcards | StudBud
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Real Estate Finance 15th edition
Real Estate Finance 15th edition
38 terms
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Units 1-4
Flashcards
38 cards
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Practice quiz
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Host live
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Questions
38
Answers
1
In 1913 What President signed the Federal Reserve Act??
Woody Wilson
Woodruff Willson
Woodrow Willson
Woodrow Wilson
2
FHFA is an conservatorship for Freddie Mac & Fannie Mac
Consumer Financial Protection Bureau (CFPB)
Qualified Residential Mortgage (QRM)
True
An umbrella
3
BEST DESCRIBES To purchasing long-term securities, such as MBS and long term treasury notes?
Quantitative Easing
Quantitative employment
Federal Reserve District
Quantifiable easing
4
Under ECOA, May the lender may seek info on birth control practices or intentions of the borrowers or co- borrower?
Yes
May Not
Certain situations
True
5
Which BEST applies to Supply and Demand ?
To secure a large loan for purchase of a property
More than doubled offering higher qualifying ratios
Real estate cycles
When the supply exceeds the demand, prices decrease.
6
Regarding supply & demand FINANCING IS another variable affecting short- term sale?
False
True
7
In RE what is Based on Confidence ??
Cost of money
Self-esteem
System of money
Means of payment
8
Wall street developed a market for these CMO tied to short-term intrest rates.
True
False
9
BEST DESCRIBES Maintenance of sound credit conditions to help counteract inflationary and deflationary movements?
Exchange
Supply and Demand
Inflationary pressures
The FED
10
Conservatorship means?
A guardian, protecter
Lenders
Private corporation
Mortgage market
11
In 1932, Designed to provide central credit clearing facility and to establish rules and regulations for members.
FHFA
Federal Home Loan Bank System
FHLB
Federal Housing Finance Agency
12
What was established in 1913?
Interest Rates
US Treasury
The FED
Organization of Federal Reserve Act
13
The US Treasury's long-term debit instruments (for 2-10 years) are called?
Treasury bills
Treasury notes
Treasury bonds
Treasury mortgages
14
A buyer makes a very small payment and borrows the balance needed to purchase real property. This is called ?
Leveraging
Hypothecation
A Primary Market
Short-sale
15
The FDIC receives congressional appropriations.
False
True
16
The FDIC is a five person b.o.d appointed by the president of the US with Senate approval.
False
True
17
Regulation Z is a law requiring lenders to?
CFPB
Reveal total loan costs threw ARP
Reveal total loan cost threw APR
Reveal total lone cost threw APR
18
The FDIC was created as an independent agency in 1933, during the Great Depression.
False
True
19
Treasury long-term debt instruments called >treasury bonds.
False
True
20
Whos Responsible for supervision of Truth in Lending Act?
Consumer Protection Act
The FED
Regulation Z
RESPA
21
The basic functions of the US Department of the treasury include all of the following EXCEPT?
The FHFA
The FDIC
The OCC
The OTS
22
The primary activities of HUD all of the following EXCEPT
Directing Ginnie Mae
Enforcing the FHA and RESPA regulations.
Regulating the FHFA
Supervising FHA
23
What year did a President sign the Federal Reserve Act?
1923
1903
1931
1913
24
TILA protects whom?
The Consumer
The Lender
RE Agents
The Fed
25
Community Development Block Grants (CDBG) help whom?
Assist private businesses
Help construct and improve public facilities
Longest running programs
Help Economic developments
26
Treasury short-term securities are called >Treasury bills.
True
False
27
Explain Leverage?
Means to pledge real or personal property
The way lenders handle documentation
Lenders accept less then actual payment due
Use of proportionately small amount of money to secure large loan
28
Loan officer inquired about a wife's ability to have more children. Which federal act is he violating?
ECOA
RESPA
HMDA
TILA
29
Payout method- Insured deposits are paid by FDIC
True
False
30
Why are you studying?
Prepare to improve my quality of life
To be a Realtor
To prepare for exam
To gain knowledge
31
How does CDBG determine who gets help?
Formula to measure needs, population data, age and density of housing
A property report
Set up by PHA
Congress
32
Fannie Mae was established by congressional charter in 1938 as FNMA
False
True
33
Farm loans are unique in that they must have flexibility cause of ??
Credit scores
Availability of funds
Weather conditions
Changes in interest rates
34
Almost all subprime lenders went under, by 2011, most private insurance companies were headed for failure who helped ?
CMO
FHFA
True
Freddie Mac
35
The FDIC insures deposits of virtually every bank and thrift in the country.
True
Some
A Few
False
36
What is CMO
Mortgage- backed security
Different classes of bondholders
Creates separate pools of passthrough rates
Varying maturities, called tranches .
37
For a mortgage loan to be administered correctly, the lender must provide what within how many days?
Title, 3
Disclosure, 3days
Disclosure Settlement, 7
Breakdown of charges, 3
38
The FDIC insures securities. mutual funds, stocks, bonds, ins, or annuity products.
True
False