Introduction To Real Estate Finance

Deficiency judgments are not available to a foreclosing mortgagee if:

As to points, which of the following is true?

A trust deed would most likely be discounted by:

Real estate used as security for a loan would be:

During the one year redemption period of a mortgagor in default:

Secured collaterally refers to a:

An adjustable-rate loan is pegged at an interest rate above a loan index. This increase above the index is knows as the:

A financing statement is removed from record by:

The person who would wish to record a land contract would be the:

Who would sign a request for reconveyance?

The payments of the buyer under a land contract include taxes and insurance. The seller:

Interest paid on principal and interest is:

A disadvantage of a land contract to a buyer is:

A broker advertised the APR, but did not include any other financing terms. Was the ad proper?

The release clause in a trust deed requires payments higher than they should be considerin the value of the property released. Why?

The advantages to a borrower of a biweekly mortgage payment over a monthly payment include:

Hypothecate means:

A mortgage Loan Disclosure Statement is for the protection of the:

A land contract is most similar to a:

You would find a subordination clause in:

Which party to a mortgage signs the note?

As to real property sales contracts for land or one to four residential units, which of the following is true?

A packaged mortgage is a loan in which:

A straight note would not be:

The basic obligation of a real estate loan in California is evidenced by:

A trust deed is a(n):

Consideration exists:

A mortgage and a trust deed are similar in that:

A lender advanced credit to a consumer and took a lien on the consumer's home even though the cosumer didn't have sufficient income to pay the debt. This is an example of:

An endorsement on a note said "without recourse." What kind of endorsement is it?

On an amortized loan, each payment would differ from the previous payment in that:

A release clause would most likely appear in:

Total foreclosure time under a trust deed most nearly approaches:

A clause in a trust deed calling for assignment of rents most likely would benefit the:

In a sale transaction, which party is most likely responsible for a prepayment penalty?

When monthly amortized mortgage payments are equal, the interest charged is:

An alienation clause in a trust deed prohibits:

A borrower makes $100 amortized loan payments.

An introductory rate of interest is 3.25 percent less than the index rate of 4.25 percent and the 2.25 percent margin would set the introductory rate at:

A trust deed note showed zero interest. The IRS held that the beneficiary should pay taxes as if a reasonable rate of interest had been received. This rate set by the IRS is known as:

To pay for an operation, a man obtains a first trust deed on his house. One day after completion of the loan, he wishes to rescind the transaction.

Truth in Lending disclosure when advertising a graduated payment loan would require the:

When interest rates are high, banks increase points on some loans to:

Balloon payments are not allowed for an owner-occupied residence under Article 7:

Which of the following is not required when a trust deed is paid up?

The Truth in Lending Law is enforced by the:

A broker is the owner of the escrow company that handles most of the office business. As to the escrow company:

When a vendee under a land contrac defaults, the vendor to clear title would commence a:

When buying a house, a person would not receive:

A deficiency judgment is possible if there is:

The longer the loan (all other things being equal):

Under a deed of trust the:

Naked legal title refers to a:

Real property would not be:

Upon payment of a trust deed in full and on demand of the trustor, the trustee must give a deed of reconveyance:

A broker has a written agreemnet giving you 60 days to arrange a loan for $1,200.

The Federal Reserve Board wants to tighten the money supply. What action might it take?

When the vendor and vendee sign a real property sales contract:

A mortgagee foreclosing would first:

Upon default of a buyer on land contract, the seller would:

A lender was required to contact a borrower 30 days prior to a notice of default. This notification was to:

An adjustable-rate mortgage has an index that has risen from 4.5 percent to 11 percent with a margin of 2.5 percent, but the bank is charging only 12 percent interest on the loan. This lower interest is due to:

The prepayment penalty on a pay off for a three-year-old conventional residential loan would be based on the:

A real property sales contract must show:

A second trust deed can be distinguished from a first trust deed by:

The seller under a real property sales contract may not:

The Real Estate Settlement Procedures Act provides for violation penalties of:

A buyer purchases a $10,000 trust deed for $6,400. The trustor defaults. The most that the buyer of the trust deed can recover at the trustee's sale is:

To curb inflation, the government can:

The beneficiary must give consent before the trustor can:

A statement that says "In the event of sale, the entire balance is due and payable" would be:

A loan that would appeal most to a young person whose income is starting to increase would be:

A trustor under a trust deed:

The vendor-vendee relatioship under a land contract is most similar to the relationship:

The unsury law for individuals does not apply when:

In a subdivision, the largest number of properties that can be covered by a trust deed without a blanket encumbrance is:

A holder of a second trust deed reveives notification of default on the first trust deed. He or she would probably:

A mortgage would be released by:

To be relieved of the primary responsibility of a loan, a seller must find a buyer:

A straight loan refers to:

A deed of reconveyance moves title from:

Loan payments based on a 20-year amortization schedule also require that the loan be paid in full within 10 years.

Article 5 of the Real Estate Law does not apply to:

As to trust deeds, which of the following is false?

Large payments to a builder as work progresses would most likely be:

A loan's index rate is now at 5  1/4 percent. If the margin is 2.4 percent, the loan's interest should be:

Points go up when the going interest rate increases above a fixed lending rate. Assume that each percentage point increase in the lending rate equals 6 points. An interest rate increase from 7 1/4 percent to 8 percent would result in what decrease of points?

Making biweekly payments on a mortgage of one-half the monthly payment will result in:

Warehousing is becoming extremely important in the field of finance. It refers to:

A trust deed is foreclosed by the:

A trustor is to a beneficiary as:

The right of rescission under Truth in Lending would apply to a(n):

A prepayment penalty would be inconsistent with:

A security agreement for personal property is filed with:

A borrower has a loan where the borrower can make monthly payments less than the interest that is accruing. This would be regarded as a(n):

Whihc law applies to federally related transactions?

Proceeds from a trustee's sale go to:

A broker's commission for negotiating a loan is not subject to Article 7 limitation if the loan is:

A lender made a loan secured by borrower's home without regard to the borrower's ability to make the payments. This would be regarded as:

By calling in a loan, the lender:

The instrument that is least likely to be recorded is the:

A right of possession and equitable title would be held by the:

A recorded trust deed referred to in other trust deeds is most likely:

RESPA would apply to a:

The nominal rate of interest would be:

To subordinate means:

Which of the following are related to each other?

Promotional notes, as used in real property securities, do not include a note that has term of:

A request for notification of default would be most desired by the:

Ther person signing an assignment of a land contract is:

If two lenders share in different portions of the same loan, the loan would be a:

A lender, in evaluating a prospective loan, should not consider:

A trust deed would likely be in default when:

A blanket encumbrance would have the greatest benefit to the:

Which gives the most protection to a property owner in default?

Which of the following are synonymous?

An individual working for a bank is paid for every real estate loan she arranges. She must:

Regarding financial institutions, deregulation means:

Which of the following is not an element of a mortgage?

In periods of tight money:

A clause in a trust deed that allows a trustor to refinance another trust deed without relegating it to a junior priority is a(n):

A broker negotiated a three-year second trust deed for $20,000. He charged a $2,000 fee. The fee is:

The  Truth in Leding Act is part of the:

In the absence of any other economic changes, raising the points to be paid on a loan should:

The power of sale in a trust deed would be given by:

As to beneficiary statements, which of the following is true?

A loan amortization table would show:

A trust deed foreclosed as a mortgage would be foreclosed by:

The disclosure statement required under the Truth-in-Lending Law is most similar to:

A basic difference between trust deeds and mortgages is:

A beneficiary sells a note secured by a trust deed. The beneficiary must:

For a trust deed to be negotiable, it must be:

Equity financing refers to:

Selling a home under an existing blanket trust deed requires that the trustee give a(n):

Who would most likely benefit by a subordination clause in a trust deed?

A borrower receives a monthly check from the lender. This is most likely a(n):

Which of the following clauses can be disregarded by a trustor?

Inflation is best evidenced by a(n):

The collection of interest in advance is known as:

Beth, a licensee, sells a real property sales contract for Ricardo, the vendor. Beth is responsible for making certain the contract is recorded:

Discount points are:

A RESPA disclosure statement would least likely be required for a loan made:

The beneficiary of a trust deed is most likely a:

A land contract clause prohibits any prepayment.

As to loan brokers, which of the following is true?

A seasoned loan is:

After the three-month notification of default:

What is the highest commission a broker can charge in negotiating an $8,000 first trust deed for 2 1/2 years?

Janet assumes a trust deed from Bill.

A real estate broker made a home loan at 30 percent interest. The broker: