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Real Estate Financing Principles

Chapter 15
Horizontales
__ amortization results in the loan balance actually going up after a payment is made.
Texas Veterans Land Board
__ banks make loans to its borrowers using the deposits from other customers.
A mortgage __ is a company, individual, or institution that originates mortgages.
A/An __ loan essentially lowers the interest rate for the buyer, thereby reducing the amount of the monthly payment.
The __ mortgage market consists of lenders who originate mortgage loans directly to borrowers.
__ Rate is also called a teaser rate.
Real Estate Settlement Procedures Act
A/An __ plan is a retirement plan that requires an employer to make contributions to a pool of funds set aside for a worker's future benefit.
Federal Housing Administration
Verticales
A/An __ lender is someone who uses their capital to finance investments, such as real estate, and profits from interest paid on the loan.
A __ contract is also called a contract for deed.
A/An __ loan is one that is not backed by a government agency.
Equal Credit Opportunity Act
A mortgage __ is a middleman who brings mortgage borrowers and mortgage lenders together but does not use its own funds to originate mortgages.
Credit __ is a number that indicates a borrower’s ability to repay a loan.
__ unions are very similar to banks with one big difference...they are non-profit organizations.
In a fully __ loan, the principal balance is zero at the end of the term.
Adjustable Rate Mortgage
The __ mortgage market is a marketplace where home loans and servicing rights are bought and sold between lenders and investors.
The borrower's monthly payment to the lender for principal and __ is called the P&I payment.
To ensure that the borrower has enough cash for any required down payment, proof of __ will be required.
__ is the illegal action or practice of lending money at unreasonably high rates of interest.
__ Cap is the maximum amount that the rate can change either up or down.