Flashcards in Chapter 13: Types of Mortgages & Sources of Finance (FITB) Deck (15)
The process of qualifying a borrower and a property in connection with a loan application is known as mortgage ____.
Life insurance companies are the largest source of funds for ____ loans.
The least effective tool the Federal Reserve System has to affect the money supply is changes in the ____ ____.
The most effective tool the Federal Reserve System has to affect the money supply is called ____ ____ ____.
open market operations
If the Federal Reserve should decide to buy government securities, the money supply would ____ and interest rates would ____.
The Federal National Mortgage Association was originally created to buy ____ loans.
The government-owned organization operating in the secondary mortgage market to make low-yield, high-risk loans marketable is the ____ ____ ____ ____.
Government National Mortgage Association
A lender that prefers to keep a loan rather than sell it in the secondary market is called a ____ lender.
The secondary mortgage marketing provides ____ to the primary mortgage market.
The federal regulatory agency responsible for supervising saving associations is the ____ ____ ____ ____.
Office of Thrift Supervision
The flow of funds into deposits held by primary lenders that increase the mortgage money supply is referred to as ____.
Mortgage brokers ____ loans and mortgage bankers ____ loans.
The primary mortgage market is where loans are ____.
A loan applicant's past credit history indicates his or her ____ to honor debt obligations, and his or her income is a measure of the ____ to repay the loan.