Multiple Choice
12-31.A Federal agency that requires a 10 percent down payment in order to purchase adjustable rate mortgages (ARMs) with negative amortization is:
A) FNMA
B) FHLMC
C) HUD
D) both a and b
Correct Answer:

Verified
Correct Answer:
Verified
Q15: 12-29."Significant compensating factors," after dual qualifying ratios
Q16: 12-34.The number of states that require that
Q17: 12-33.Which type of note limits the lender's
Q18: For 95% loan-to-value loans FNMA requires that,as
Q19: 12-19.The theories that explain default risk include:<br>A)
Q21: 12-21.A study conducted by George Von Furstenberg
Q22: A promissory note is:<br>A) a recourse note<br>B)
Q23: 12-10.The following lien takes first place on
Q24: A lengthy foreclosure process can lead a
Q25: 12-38.Which one of these conditions involves the