When a borrower pays mortgage insurance on an FHA loan, this type of insurance:
A) protects the lender against a shortage in the event of a default
B) is an expense that is borne entirely by the lender
C) pays the borrower the loan balance in the event of a fire loss
D) prevents foreclosure in the event of the trustor's death
Correct Answer:
Verified
Q3: A secondary mortgage market is where:
A) existing
Q8: Private mortgage insurance (PMI):
A) makes the payments
Q15: For gross income purposes, most lenders want
Q24: The term impound most nearly means:
A) attachments
B)
Q25: Which organization requires a CRV appraisal before
Q26: Who does not lend their money, but
Q27: Which of the following best defines a
Q28: Of the following government-backed loans, which usually
Q31: Which program has the seller deed title
Q34: A person who buys a note in
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