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To hypothecate is to offer property (real or personal) as security for a loan without giving up possession.
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A mortgage which provides for securing the amount of the initial loan together with any sums later loaned to the mortgagor is known as a (n) ____
The phrase “the secondary mortgage market” refers to ____
a resale marketplace for existing trust deed loans.
A clause in a trust deed calling for an assignment of rents most benefits the ____
In real estate financing, the acronym “PMI” means ____
private mortgage insurance.
When a borrower defaults on a loan and the lender initiates judicial foreclosure, the right of possession to the property is held by the ____ during the redemption period.
In real estate loans, the term “impounds” most nearly means ____
If a lender accepts a deed-in-lieu of foreclosure, the lender ____
assumes any junior liens.
The buyer in a sale leaseback transaction would be least concerned with the ____
original cost to construct the building.
Which of the following entity does not buy loans in the secondary mortgage market?
Federal Housing Administration (FHA).
The mortgage insurance premium (MIP) paid on a Federal Housing Administration (FHA) loan protects ____