Financing Techniques Quiz Attempt #3

If a mortgage lender in Georgia makes a loan at 5.25% but actually has a yield of 6%, how many discount points are being charged

The lender may advertise a property in the appropriate county newspaper for an upcoming _________

The defeasance clause in a mortgage requires the mortgagee to obtain a(n):

Fannie mae is used to:

What kind of adjustable rate mortgage allows the borrower to change the ARM to a fixed rate mortgage within a specific time?

A mortgagee is required to do the following due to the defeasance clause in their mortgage:

What is Fannie Mae mainly responsible for?

A borrower has defaulted on their loan and has not made payments once the lender has contacted them. Which of the following actions can the lender take:

What action is occurring when modification takes place?

An adjustable rate mortgage that that can transition into a fixed rate mortgage per the borrower’s permission within a specific time is called a:

The Georgia intangibles tax rate is:

A homeowner gets a home equity loan to consolidate existing credit card loand and already has an existing mortgage, what happens to the existing mortgage?:

A morgator must pay the following to a government or private instution recieve morgagate insurance:

The ____ grants the security deed in Georgia

Legal process in which property that is pledged as security for a debt is sold to satisfy the debt is known as?

A straight term loan is defined as

Under which financing mortgage payment is composed of the principal, interest, taxes and insurance.

The borrower in a mortgage loan transaction is known as the

The major organizations operating in the secondary mortgage market are?

The use of the security deed in Georgia permits a lender to ______ without going to court.