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Unformatted text preview: e Training For GinnieNET. ... Office Of Federal Housing Enterprise Oversight (OFHEO). OFHEO's primary mission is ensuring the capital adequacy and financial safety and soundness of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Provides information on VA programs, veterans benefits, VA facilities worldwide, and VA medical automation software. U.S. Department of Housing and Urban Development (HUD) FHA mortgage center offers purchase and refinance loans to home buyers nationwide. FHA mortgage lender offers purchase and streamline refinance mortgages to home buyers nationwide. Cal–Vet Loans, Now is a Great Time to use a Cal–Vet Loan! If you're ready to buy a home, Cal–Vet is here to meet your home financing needs! www.ginnemae.gov www.ofheo.gov www.va.gov www.hud.gov www.fhatoday.com www.cdva.ca.gov 5-54 Licensing School for Appraisal, CPA, Contractors, Insurance, Real Estate, Notary, Nurse, Food Handlers, Tax and Securities 5: GOVERNMENT PARTICIPATION & BACKED LOANS
1. The FHA title that is used to purchase homes is: A. B. C. D. 2. Title I Title II Title III Title IV FHA–insured loans insure lenders against A. B. C. D. Decline in real estate values. Loss due to foreclosure. Loss due to borrowers losing their jobs. Late payments by borrowers. 3. Among the secondary objectives and results accomplished by the FHA are: A. B. C. D. Comprehensive system of valuing property and land mortgage risks Minimum standards of construction Scientific subdivision planning to protect against neighborhood deterioration All of the above 4. The FHA has established certain MPRs that must exist before they will insure a loan. MPR is an abbreviation for: A. B. C. D. Maximum probability ratio Mortgage protection rate Minimum property requirements Market price rating 5. A program where GNMA and FNMA for buying loans at par, which is less than market value, is known as: A. B. C. D. A pass through The Tandem plan REMIC Discounting 6...
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This note was uploaded on 12/30/2010 for the course SOC 101 taught by Professor Zhung during the Spring '10 term at Punjab Engineering College.
- Spring '10