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Margo P
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Decks in this class (22)
Loans - overview
What form is used to qualify borr...,
How is qualifying the property ac...,
What is preapproval 3
7
cards
Conventional loans (overview)
For a conventional loan the inter...,
Fixed rate conventional loans inc...,
A _______ clause is contained in ...
7
cards
Qualifying ratios for loans
What is the maximum housing expen...,
How do you calculate the housing ...,
What is the maximum total obligat...
5
cards
Amortized mortgage
A fixed rate amortized mortgage c...,
At the end of an amortized mortga...,
For an amortized mortgage the ___...
7
cards
Adjustable-rate mortgage (ARM)
What is an adjustable rate mortga...,
Does an arm loan have a due on sa...,
What is the index in an adjustabl...
10
cards
Federal Housing Administration (FHA)
The mission of the fha federal ho...,
The fha is fully insured by the _...,
The fha helps to increase the ava...
18
cards
VA loan
The va loan is a loan program est...,
Does a va loan require a down pay...,
Va loans are provided by ____ ___ 3
22
cards
Biweekly mortgage loan
What is a biweekly mortgage loan 1,
In a biweekly mortgage loan the b...
2
cards
Partially amortized mortgage loan
What is a partially amortized mor...,
A partially amortized loan has wh...
2
cards
Purchase money mortgage (PMM)
What is a purchase money mortgage...,
When is a pmm delivered 2,
What does a pmm create 3
4
cards
Home equity loans, Package Mortgage Loan
What is a home equity loan 1,
What is a home equity loan used f...,
If a loan is used to make home im...
7
cards
Home equity conversion mortgage (HECM)
What kind of mortgage is a home e...,
Who is an hecm designed for 2,
What does an hecm provide 3
6
cards
Depository lender
What is a depository lender 1,
What are the three major kinds of...,
Savings associations prefer to ma...
5
cards
Nondepository primary lenders
Mortgage lenders are __ __ ____ c...,
Mortgage lenders ___ ___ and ___ ...,
Mortgage lenders are not a _____ ...
6
cards
Secondary market
The ____ _____ is where existing ...,
Portfolio lenders hold _____ loan...,
Most lenders sell the loans in th...
4
cards
Fannie Mae & Freddie Mac
Fannie mae freddie mac are ____ s...,
Fannie mae buys ___ _ and ___ loa...,
Fannie mae prefers conforming con...
5
cards
Ginnie Mae
Ginnie mae is a government corpor...,
Ginnie mae is a guarantor on pool...,
Ginnie mae does not participate i...
4
cards
Federal Reserve System
What is the federal reserve system 1,
What is the federal reserve syste...,
The federal reserve system has re...
3
cards
Straw buyer, no documentation loan, red flags
Another person s ____ is used to ...,
Many times straw buyers are victi...,
What is a no documentation loan 3
4
cards
Equal Credit Opportunity Act (ECOA), Truth in Lending Act (TILA)
The equal credit opportunity act ...,
What does ecoa require 2,
What is the truth in lending act 3
10
cards
Real Estate Settlement Procedures Act (RESPA)
The real estate settlement proced...,
What does respa say about affilia...,
What does respa say about having ...
5
cards
TILA-RESPA Integrated Disclosure (TRID) rule
Trid says the loan estimate form ...,
Trid states the closing disclosur...,
Trid replaced respa s consumer bo...
3
cards
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Unit 14 - Types of Mortgages & Sources of Financing
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