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RELE 1319: Texas real estate finance final exam review,Latest update, Exams of Finance

Abilene Christian University (ACU)Finance

RELE 1319: Texas real estate finance final exam review,Latest update

Typology: Exams

2024/2025

Available from 07/04/2025

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RELE 1319: Texas real estate finance final
exam review,Latest update
Use of borrowed funds - correct answer Define financial leverage
Cancel loan application within 3 business days - correct answer What is the right of rescission under
Regulation Z?
Acquire and redevelop foreclosed properties - correct answer What is the goal of the neighborhood
stabilization program?
FHFA - correct answer What agency regulates Fannie Mae and Freddie Mac?
Banker makes loan, broker brings borrower and lender together - correct answer What is the difference
between a mortgage banker and a mortgage broker?
Specific lien: 1 property; general lien > 1 property - correct answer What is the difference between a
specific lien and a general lien?
Can't usually make payment; need to refinance - correct answer What is the drawback of a loan with a
balloon payment?
HUD - correct answer What entity administers the Federal Housing Administration?
Damaged credit; harder and more expensive to get loans possible tax consequences - correct answer
What future impacts might a foreclosure have on a borrower?
$25000 / 20 yrs
$10000 or less / 10 yrs - correct answer The home improvement program offered by the Texas Veterans
Land board is for up to what dollar amount and for what length term?
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Download RELE 1319: Texas real estate finance final exam review,Latest update and more Exams Finance in PDF only on Docsity!

RELE 1319: Texas real estate finance final

exam review,Latest update

Use of borrowed funds - correct answer Define financial leverage Cancel loan application within 3 business days - correct answer What is the right of rescission under Regulation Z? Acquire and redevelop foreclosed properties - correct answer What is the goal of the neighborhood stabilization program? FHFA - correct answer What agency regulates Fannie Mae and Freddie Mac? Banker makes loan, broker brings borrower and lender together - correct answer What is the difference between a mortgage banker and a mortgage broker? Specific lien: 1 property; general lien > 1 property - correct answer What is the difference between a specific lien and a general lien? Can't usually make payment; need to refinance - correct answer What is the drawback of a loan with a balloon payment? HUD - correct answer What entity administers the Federal Housing Administration? Damaged credit; harder and more expensive to get loans possible tax consequences - correct answer What future impacts might a foreclosure have on a borrower? $25000 / 20 yrs $10000 or less / 10 yrs - correct answer The home improvement program offered by the Texas Veterans Land board is for up to what dollar amount and for what length term?

Buying and selling treasury and other gov't securities - correct answer What is the primary activity of the Federal Reserve's open market operations? Fannie / Freddie underwriting guidelines - correct answer Define conforming loans Fannie / Freddie 28% / 36% FHA 31% / 43% VA 41% - correct answer What are the debt-to-income ratios used by the FHA and the VA? What ratios are used by Fannie Mae / Freddie Mac for conventional loans? Race, color, religion, national origin, sex, marital status, age, public assistance - correct answer What are the protected classes under the Equal Credit Opportunity Act? Less housing starts = negative more housing starts = positive - correct answer How does the number of new home construction starts relate to the overall health of the economy? Title does not change until loan paid in full. Single financing and sales instrument - correct answer How does the contract for a deed differ from a note and mortgage or a note and deed of trust? Value can change over time - correct answer Describe the key characteristics of bonds -lien goes away when loan paid off

secondary = loans sold to investors - correct answer What is the difference between the primary and secondary mortgage markets? Interest rate changes overtime - correct answer What is the key feature of an adjustable-rate mortgage (ARM)? Stable and recurring - correct answer What kind of income do lenders look for in potential borrowers? At application : loan estimate, booklet resettlement At closing: closing disclosure - correct answer What disclosure are required at the time of loan application and prior to closing, according to RESPA? Provide collateralized loans to member financial institutions - correct answer What is the primary function of the Federal Home Loan Bank? Up-front fees charged by lenders to increase loan yield - correct answer What are discount points?