Introduction to Real Estate Finance

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

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:

A trustor under a trust deed:

Deficiency judgments are not available to a foreclosing mortgagee if:

Janet assumes a trust deed from Bill.

Interest paid on principal and interest is:

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

A blanket encumbrance would have the greatest benefit to the:

The Truth in Lending Law is enforced by the:

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

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

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

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

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

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

A financing statement is removed from record by:

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

Real estate used as security for a loan would be:

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

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

An alienation clause in a trust deed prohibits:

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

Inflation is best evidenced by a(n):

Who would sign a request for reconveyance?

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

Ther person signing an assignment of a land contract is:

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

To curb inflation, the government can:

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

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

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

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

A real property sales contract must show:

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

Consideration exists:

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

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

Secured collaterally refers to a:

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

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

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:

A trust deed would most likely be discounted by:

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

The collection of interest in advance is known as:

By calling in a loan, the lender:

A packaged mortgage is a loan in which:

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

A trust deed would likely be in default when:

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

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

Which party to a mortgage signs the note?

A prepayment penalty would be inconsistent with:

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

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.

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

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

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

The beneficiary must give consent before the trustor can:

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

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

Hypothecate means:

A release clause would most likely appear in:

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):

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

Total foreclosure time under a trust deed most nearly approaches:

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

A mortgage and a trust deed are similar in that:

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

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

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:

As to points, which of the following is true?

The  Truth in Leding Act is part of the:

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

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 mortgagee foreclosing would first:

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

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

Equity financing refers to:

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

A seasoned loan is:

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

The nominal rate of interest would be:

A loan amortization table would show:

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

Whihc law applies to federally related transactions?

A trust deed is a(n):

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

Regarding financial institutions, deregulation means:

Under a deed of trust the:

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

Proceeds from a trustee's sale go to:

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

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:

In periods of tight money:

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:

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

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

To subordinate means:

A mortgage would be released by:

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

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

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

A basic difference between trust deeds and mortgages is:

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

A deficiency judgment is possible if there is:

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

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

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

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:

When buying a house, a person would not receive:

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

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?

Discount points are:

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

The beneficiary of a trust deed is most likely a:

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:

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

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

A trustor is to a beneficiary as:

RESPA would apply to a:

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

A security agreement for personal property is filed with:

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

A straight note would not be:

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

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

The unsury law for individuals does not apply when:

The seller under a real property sales contract may not:

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

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

A borrower makes $100 amortized loan payments.

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

A trust deed is foreclosed by the:

After the three-month notification of default:

Which of the following are synonymous?

Naked legal title refers to a:

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

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

You would find a subordination clause in:

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

A straight loan refers to:

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

A disadvantage of a land contract to a buyer is:

A deed of reconveyance moves title from:

A land contract clause prohibits any prepayment.

Which of the following are related to each other?

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):

A land contract is most similar to a:

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