Question 1

The fee a mortgage lender charges for assembling a loan package and determining acceptance or rejection of an applicant is all a loan ________________.

Accepted Answer

A)   Underwriting Fee
B)   Servicing Fee
C)   Assembling Fee
D)   Origination Fee

Question 2

The Farm Credit System consists primarily of

Accepted Answer

A)   a Cooperative, borrower-owned network of farm lending banks
B)   the Rural Development Service of the Department of Agriculture and related agencies
C)   only the Federal Land Bank Associations
D)   the government agency that underwrites all qualifying farms loans.

Question 3

A basic difference between mortgage companies and regulated lenders is that mortgage companies

Accepted Answer

A)   are subject to no regulations
B)   hold no deposit assets with which to fund loans
C)   are higher cost operators and unable to be competitive
D)   handle only FHA and VA loans

Question 4

The fee a mortgage lender charges for assembling a loan package and determining acceptance or rejection of an applicant is called a loan

Accepted Answer

A)   Underwriting Fee
B)   Servicing Fee
C)   Assembling Fee
D)   Origination Fee

Question 5

Computerized loan origination is a procedure that allows a real estate agent to

Accepted Answer

A)   analyzed a loan without consulting a qualified underwriter.
B)   approve and fund mortgage loans in house
C)   assist an applicant for a mortgage loan and transmit the information via computer to a lender
D)   set its own standards for loan qualification.

Question 6

Mortgage brokers residential mortgage loan market share has decreased substantially because of

Accepted Answer

A)   the rapid consolidation of the mortgage banking industry and new compensation disclosure rules.
B)   the complexity of mortgage loans has grown beyond the capabilities of mortgage brokers .
C)   legislation that restricts major company lenders.
D)   a decline in the number of companies that qualify as mortgage bankers. A

Question 7

The continued acceptance and growth of Real Estate Investment Trust has been enhanced by

Accepted Answer

A)   the sale of REIT stock in the financial markets
B)   the collapse of Foreign Investment in real estate
C)   improved management
D)   greater publicity A

Question 8

The growing complexity of mortgage loans and the need for better consumer protection against poorly qualified brokers has led to

Accepted Answer

A)   great simplification of the mortgage loan process.
B)   lowering the qualification requirements of borrowers.
C)   state and National education and licensing of mortgage brokers.
D)   requirements that all mortgage brokers become mortgage bankers.

Question 9

While the distinction between mortgage bankers and brokers is diminishing, a full service mortgage banker means being capable of all the of the following EXCEPT

Accepted Answer

A)   originating or negotiating a loan.
B)   funding a loan at closing.
C)   servicing a loan until pay off.
D)   holding a loan in portfolio. D

Question 10

Automated underwriting means

Accepted Answer

A)   used only by Internet operators
B)   analysis of loan application by computer software programs that allow loan approval if justified
C)   analysis of loan application by elimination of all human input
D)   transmission of loan info via a computer

Question 11

Most RMBS issued by Fannie Mae and Freddie Mac being issued not being purchased by the Federal Reserve Bank is being financed by REIT's using the ___________________.

Accepted Answer

A)   Discount Window of the Federal Reserve Bank
B)   Federal National Mortgage Conduit
C)   The Federal Housing Administration
D)   Public-Private Investment Program

Question 12

The slow recovery in the Mortgage Backed Securities markets since the beginning of the financial crisis in 2008 and continuing into 2011 has caused most mortgages to be directly or indirectly guaranteed by:

Accepted Answer

A)   FHA
B)   VA
C)   U.S. Government
D)   Federal Reserve Bank

Exam 4: Other Primary Market Lenders

The fee a mortgage lender charges for assembling a loan package and determining acceptance or rejection of an applicant is all a loan ________________.

Correct Answer
verified

The Farm Credit System consists primarily of

Correct Answer
verified

A basic difference between mortgage companies and regulated lenders is that mortgage companies

Correct Answer
verified

The fee a mortgage lender charges for assembling a loan package and determining acceptance or rejection of an applicant is called a loan

Correct Answer
verified

Computerized loan origination is a procedure that allows a real estate agent to

Correct Answer
verified

Mortgage brokers residential mortgage loan market share has decreased substantially because of

Correct Answer
verified
A

The continued acceptance and growth of Real Estate Investment Trust has been enhanced by

Correct Answer
verified
A

The growing complexity of mortgage loans and the need for better consumer protection against poorly qualified brokers has led to

Correct Answer
verified

While the distinction between mortgage bankers and brokers is diminishing, a full service mortgage banker means being capable of all the of the following EXCEPT

Correct Answer
verified
D

Automated underwriting means

Correct Answer
verified

Most RMBS issued by Fannie Mae and Freddie Mac being issued not being purchased by the Federal Reserve Bank is being financed by REIT's using the ___________________.

Correct Answer
verified

The slow recovery in the Mortgage Backed Securities markets since the beginning of the financial crisis in 2008 and continuing into 2011 has caused most mortgages to be directly or indirectly guaranteed by:

Correct Answer
verified

Exam 4: Other Primary Market Lenders

The fee a mortgage lender charges for assembling a loan package and determining acceptance or rejection of an applicant is all a loan ________________.

Correct AnswerverifiedShow Answer

The Farm Credit System consists primarily of

Correct AnswerverifiedShow Answer

A basic difference between mortgage companies and regulated lenders is that mortgage companies

Correct AnswerverifiedShow Answer

The fee a mortgage lender charges for assembling a loan package and determining acceptance or rejection of an applicant is called a loan

Correct AnswerverifiedShow Answer

Computerized loan origination is a procedure that allows a real estate agent to

Correct AnswerverifiedShow Answer

Mortgage brokers residential mortgage loan market share has decreased substantially because of

Correct AnswerverifiedA

The continued acceptance and growth of Real Estate Investment Trust has been enhanced by

Correct AnswerverifiedA

The growing complexity of mortgage loans and the need for better consumer protection against poorly qualified brokers has led to

Correct AnswerverifiedShow Answer

While the distinction between mortgage bankers and brokers is diminishing, a full service mortgage banker means being capable of all the of the following EXCEPT

Correct AnswerverifiedD

Automated underwriting means

Correct AnswerverifiedShow Answer

Most RMBS issued by Fannie Mae and Freddie Mac being issued not being purchased by the Federal Reserve Bank is being financed by REIT's using the ___________________.

Correct AnswerverifiedShow Answer

The slow recovery in the Mortgage Backed Securities markets since the beginning of the financial crisis in 2008 and continuing into 2011 has caused most mortgages to be directly or indirectly guaranteed by:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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A

Correct Answer
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A

Correct Answer
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Correct Answer
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D

Correct Answer
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Correct Answer
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Correct Answer
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