When a loan is based solely on the credit of the borrower and on the collateral for the mortgage, the mortgage is said to be a:
A) Fixed-rate mortgage.
B) Adjustable rate mortgage.
C) Conventional mortgage.
D) Guarantee.
E) None of the above.
Correct Answer:
Verified
Q2: Mortgage insurance to provide a guarantee for
Q3: The principal originators of residential mortgage loans
Q4: Mortgage originators may generate income from mortgage
Q5: The two principal factors in determining whether
Q6: A commitment letter is sent to the
Q7: The mortgage originator has several choices as
Q8: A mortgage loan that meets an agency's
Q9: The risk(s) associated with originating mortgages include(s):
A)
Q10: Fallout risk is the risk that:
A) The
Q11: The traditional type of mortgage is characterized
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