A government owned agency and a division of HUD that administers special assistance programs for real estate loans. They are in the secondary mortgage market and referred to as ________ Mae
These are insured loans made by approved lending institutions. They are a part of the Department of Housing and Urban Development (HUD). These loans are referred to as the Federal ________ Administration.
The purpose of the _______ Reserve System is to help stabilize the economy by regulating the flow of money and interest rates
This loan allows the seller to maintain their existing mortgage while the buyer's mortgage wraps around the existing amount owed. As a type of secondary financing the buyer will make monthly payments directly to the seller while the seller continues to pay-off the original loan. This is referred to as a ___________ Loan
This type of loan is not guaranteed or insured by any government agency such as FHA or VA. These loans are considered the most secure because the loan-to-value ratio is the lowest. This type of loan is referred to as a __________ Loan
Represents the smallest unit of measurement for interest rates and other financial instruments. These are referred to as _________ Points
This is the rate charged to the banks best customers which is influenced by the Fed's Discount Rate
When making your PITI payment to your lender, the lender processes the loan payments, pays the real estate taxes and insurance, and provides the IRS with tax information. This is referred to as ________ the Loan
A government owned agency that primarily buys conventional loans from the primary market. They are referred to as ________ Mac
The rate charged by the Federal Reserve when it lends money to its member banks. This is called the ________ Rate
The lender makes payments to the borrower and the total debit becomes payable from the sale of the property or from the borrower's estate at death. This mortgage program was created to help the elderly living on a fixed income. This loan is referred to as a _________ Annuity mortgage
A government owned agency that buys conventional, FHA, and VA loans. They are in the secondary mortgage market and considered the largest holder of residential debt. They are referred to as ________ Mae
The borrower makes monthly payments of principle, interest, tax and insurance (PITI). The lender places the tax and insurance portion in an impound account until these expenses need to be paid. This loan is referred to as a _________ Mortgage