A type of prepayment in which the entire mortgage balance is paid off is called a partial prepayment or curtailment.
Correct Answer:
Verified
Q39: Two government-sponsored enterprises and several private companies
Q40: Freddie Mac and Fannie Mae are GSEs
Q41: Mortgage servicers include bank-related entities, thrift-related entities,
Q42: Can a borrower face penalties if a
Q43: All mortgage loans have a "due on
Q45: Is prepayment risk like that faced by
Q46: Prepayment risk can be reduced if the
Q47: The loan applications being processed and the
Q48: Conventional loans in the market are referred
Q49: Effectively, the borrower's right to prepay a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents