Champions Real Estate Finance Exam Questions and Answers
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Course
2024/2025
Institution
2024/2025
Champions Real Estate Finance Exam
Questions and Answers
Residential Mortgages have two categories - Answer-Conventional Loans & Government
Loans
Portfolio Loans - Answer-Loans not sold in secondary market
Conventional Conforming Loans - Answer-Loans purchased in the secondary market that
mee...
Net Basis - Answer✔✔-Means that it does not include a servicing fee "wholesale rates"
Employment Market - Answer✔✔-The single most important determinant of value in residential
real estate is the size of the ____________________________.
2008 - Answer✔✔-The Housing & Economic Recovery Act went into effect in
_______________________.
Housing and Economic Recovery Act of 2008 (HERA) - Answer✔✔-Law designed to assist in
recovery of America's residential housing market from modernization of the Federal Housing
Administration to foreclosure prevention & enhancing consumer protections.
The Safe Act - Answer✔✔-The ____________________ is a key component of HERA.
The Safe ACT - Answer✔✔-designed to enhance consumer protection & reduce fraud by
encouraging states to establish minimum standards for licensing & registration of fraud.
The Safe ACT - Answer✔✔-Encourages states to establish minimum standards for licensing &
registration of state licensing mortgage loan originators & maintain a nationwide mortgage
licensing system & registry for Residential Mortgage Industry
1934 - Answer✔✔-FHA was created in _____________________.
Who funds FHA? - Answer✔✔-The FHA funds itself.
Monetary Policy - Answer✔✔-Insures deposits in banks & thrift institutions
Fiscal Policy - Answer✔✔-Relates to Federal Government spending
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