Member-owned depository institutions
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Credit Unions
An instrument of corporate or governmental debt
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Bonds
Policy that deals with interest rates
and the supply of money in the US
,economy.
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Monetary Policy
Adheres to Fannie Mae and Freddie Mac requirements for purchase of a mortgage
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Conforming loan
The ratio of the borrower's total recurring
monthly debts
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Back Ratio
The practice of refusing to provide financing in a particular area because of location
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Redlining
The unpaid balance of a foreclosure mortgage, payable by court order
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Deficiency Judgement
Default can lead to a number of negative consequences for the defaulting party,
including:
A - Damage to credit score
B - Default related fees
C - Foreclosures
D - All of the above
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D - All of the above
The USDA Single Family Housing Direct Home Loan is also known as ____________
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Section 502 Direct Loan Program
Disadvantages of adjustable rate mortgages include possibly increased monthly
payments, __________________, borrower confusion, and high long term costs.
A - Lower overall interest rates
B - Higher loan amounts
C - Falling interest rates during the loan term
D - The inability to refinance early
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Give this one a try later!
Credit Unions
An instrument of corporate or governmental debt
Give this one a try later!
Bonds
Policy that deals with interest rates
and the supply of money in the US
,economy.
Give this one a try later!
Monetary Policy
Adheres to Fannie Mae and Freddie Mac requirements for purchase of a mortgage
Give this one a try later!
Conforming loan
The ratio of the borrower's total recurring
monthly debts
Give this one a try later!
Back Ratio
The practice of refusing to provide financing in a particular area because of location
Give this one a try later!
Redlining
The unpaid balance of a foreclosure mortgage, payable by court order
, Give this one a try later!
Deficiency Judgement
Default can lead to a number of negative consequences for the defaulting party,
including:
A - Damage to credit score
B - Default related fees
C - Foreclosures
D - All of the above
Give this one a try later!
D - All of the above
The USDA Single Family Housing Direct Home Loan is also known as ____________
Give this one a try later!
Section 502 Direct Loan Program
Disadvantages of adjustable rate mortgages include possibly increased monthly
payments, __________________, borrower confusion, and high long term costs.
A - Lower overall interest rates
B - Higher loan amounts
C - Falling interest rates during the loan term
D - The inability to refinance early
Give this one a try later!
