Unit 13 60 Hour MREP

What helps lenders reduce the risk on a conventional mortgage loan with a high LTV?

Sale Price is $240,000. The buyer's loan is $220,000. If the lender charges three points, how much will the buyer pay

The amount of the loan a veteran can obtain under the VA’s loan guarantee program is determined by

On which type of loan can the borrower prepay without penalty?

Lenders making conventional loans to sell in the secondary mortgage market follow the standardized forms and guidelines

What does private mortgage insurance cover?

All of these are roles of the Federal Reserve System EXCEPT

The ECOA prohibits lenders from discriminating against credit applicants on the basis of all of these factors EXCEPT

The primary mortgage market lenders that have most recently branched out into making mortgage loans are

A buyer is purchasing a fully furnished condominium unit. In this situation, the buyer would be MOST likely to use a

Which of these makes direct loans to qualified borrowers?

The VA-approved property appraisal is stated in the

Regulation Z generally applies to

The Homeowner’s Protection Act of 1998 (HPA) requires that the lender automatically

To qualify for most conventional loans, a borrower’s monthly housing expenses and total monthly obligations cannot

A lender who collects payments, processes them, and follows up on loan delinquencies is said to

The Federal Deposit Insurance Corporation (FDIC) does which of these?

All of these are lenders in the primary mortgage market EXCEPT

The Equal Credit Opportunity Act prohibits discrimination in the lending process based on 

Foreclosure sales of FHA-insured homes are conducted by:

The real estate financing market is comprised of

One way a borrower can obtain a conventional mortgage loan with a lower down payment than 20% of the purchase price is

A package loan includes