Chapter 11 Quiz

Government borrowing from private investors takes place when the Treasury:

The secondary market:

A commercial bank loans money to a buyer without following Fannie Mae’s underwriting standards. The bank:

An alienation clause:

In a judicial foreclosure, the foreclosed property will be sold at a:

An increase in reserve requirements by the Federal Reserve results in:

A deed of trust with an unpaid balance of $100,000 is sold to an investor for $80,000. This practice is known as:

Under a deed of trust, the lender is called the:

What clause states that the lender may demand that a defaulting borrower pay the entire loan balance?

Which of the following terms concerns the issue of lien priority?

An elderly man who owns his house free and clear obtains a mortgage where the lender will make a monthly payment to him. When he dies, his heirs will need to sell the house to repay the mortgage. This is a/an:

A long-term loan issued by a lender on completion of construction is a:

Primary market lenders include:

Andrea borrows money from Trust Bank to buy a house. She signs a promissory note in which she agrees to repay the loan. Andrea is the:

One difference between a mortgage and a deed of trust is that: