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Chapter 22 - Real Estate Finance

Horizontales
A discount point is one __ of the loan amount.
The capital amount borrowed, on which interest payments are calculated, is the original loan __.
If the borrower sells or transfers its interest in the property without the lender's approval, the lender may demand immediate and full repayment of the loan balance. This is a/an __ clause.
A/An __ of trust conveys title to the property in question from the borrower to a trustee as security for the loan.
The lender must provide the estimate of closing costs within __ days following the borrower's application.
Loan -To-Value.
__ is a charge for the use of the lender's money.
A valid mortgage or trust deed financing arrangement requires a/an __ as evidence of the debt.
Loan __ is the process of assessing the lender's risk in giving a loan.
The lender may require the borrower to obtain private mortgage insurance, or __.
The process of securing a loan by pledging a property without giving up ownership of the property is called __.
The __ usually requires no down payment, although the lender may require one.
Loans may have fixed or __ rates of interest over the loan term.
Under __ Z, a lender must disclose all finance charges as well as the true Annualized Percentage Rate in advance of closing.
The __ mortgage market consists of lenders who originate mortgage loans directly to borrowers.
The __ reimburses the lender for losses due to default by the borrower, including costs of foreclosure.
__ is a federal law which aims to standardize settlement practices and ensure that buyers understand settlement costs.
Verticales
A promissory note is a __ instrument, which means the payee may assign it to a third party.
In a/an __ annuity mortgage, a homeowner pledges the equity in the home as security for a loan which is paid out in regular monthly amounts over the term of the loan.
An applicant's __ worth shows a lender the depth of the applicant's cash reserves, the value and liquidity of assets, and the extent to which assets exceed liabilities.
Annual Percentage Rate
A/An __ mortgage loan is a permanent long-term loan that is not FHA-insured or VA-guaranteed.
Lenders, investors and government agencies that buy loans already originated by someone else, or originate loans indirectly through someone else, constitute the __ mortgage market.
The loan __ is the period of time over which the loan must be repaid.
A veteran must apply for a Certificate of __ to find out how much the VA will guarantee in a particular situation.
A lender assesses risks by examining, or qualifying, both borrower and __.
With proper notice, the lender may __ the property if there is reasonable cause to fear damage to its lien.
A borrower who executes a mortgage is a/an __.
The __ ratio considers all of the monthly obligations of the income ratio plus any additional monthly payments the applicant must make for other debts.
Many lenders originate loans for the purpose of retaining the investments in their own loan __.
Periodic payments of taxes and insurance are held in a reserve fund called the __ account.
The lender named in the mortgage is the __.
A/An __ is a legal document stating the pledge of the borrower to the lender.
__ prohibits discrimination in extending credit based on race, color, religion, national origin, sex, marital status, age, or dependency upon public assistance.