Questions and Answers A+ Graded
Which .of .the .following .is .not .a .type .of .real .estate .mortgage? .- .CORRECT
.ANSWER-chattel .mortgage
A .defeasance .clause .is .in .a .mortgage .for .the .protection .of .the: .- .CORRECT
.ANSWER-borrower
A .monetary .judgment .by .the .court .is: .- .CORRECT .ANSWER-An .involuntary .lien
.on .the .personalty .and .realty .of .the .subject .debtor
An .estoppel .certificate .primarily .benefits: .- .CORRECT .ANSWER-the .investor
.who .purchases .the .note .and .the .mortgage
In .states .allowing .a .trust .deed, .which .of .the .following .is .not .true? .- .CORRECT
.ANSWER-A .trust .deed .conveys .legal .title .to .the .trustor
When .a .loan .is .secured .by .a .mortgage, .who .holds .the .mortgage? .- .CORRECT
.ANSWER-mortgagee
The .Chattel .Security .Agreement: .- .CORRECT .ANSWER-Creates .the .lien .on .the
.personal .property
Which .of .the .following .would .NOT .be .involved .in .a .Deed .of .Trust? .- .CORRECT
.ANSWER-vendor
Which .of .the .following .could .NOT .be .part .of .a .Deed .of .Trust? .- .CORRECT
.ANSWER-statutory .forfeiture .period
What .accompanies .a .deed .of .trust? .- .CORRECT .ANSWER-note
An .open-end .loan .would .do .which .of .the .following? .- .CORRECT .ANSWER-
Allow .for .sums .of .money .to .be .loaned .as .a .project .progresses
When .the .trust .deed .has .been .paid .in .full, .the .defeasance .clause .states .that
.the .full .deed .of .reconveyance .be .issued .by .the: .- .CORRECT .ANSWER-trustee
When .a .loan .is .called .all .due .and .payable .the .loan .has .a(n): .- .CORRECT
.ANSWER-alienation .clause