A borrower needs to to qualify for private mortgage

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Fundamentals of Financial Management
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Chapter 10 / Exercise 4A
Fundamentals of Financial Management
Brigham
Expert Verified
68. A borrower needs to _____________to qualify for private mortgage insurance (PMI).a. take title as the vested owner of the propertyb. be a natural person, not a corporation, partnership or limited liability company (LLC)c. Both a. and b.d. Neither a. nor b.
69. _____________regulate the amount of interest a non-exempt lender may charge a borrower.
70. _____________ real estate mortgages are exempt from usury restrictions.
71. A non-exempt lender in violation of usury law may be subject to:
72. An attorney not licensed as a broker:a. qualifies for exemption from usury laws. c. will be expelled from the State Bar of California.b. does not qualify for exemption from usury laws. d. None of the above.
73. Usury laws apply only to a(n) _____________ or a(n) _____________.
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Fundamentals of Financial Management
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Chapter 10 / Exercise 4A
Fundamentals of Financial Management
Brigham
Expert Verified
11Real Estate Finance, Seventh Edition— Final ExamPlease use your answer sheet74. _______________ laws set a limitation on the amount recoverable as a money judgment for debts secured by real estate.
75. During a pre-foreclosure workout, when a mortgage holder accepts the net proceeds from an owner’s sale of their property in exchange for cancelling the unpaid mortgage balance, this is referred to as a:
76. When the carryback debt to a seller becomes secured by real estate other than the real estate sold, this is referred to as:a. subordination of security. c. release of security.b. exhaustion of security. d. substitution of security.
77. A lender or carryback seller may draw on a _______________ before or after a trustee’s sale without violating anti-deficiency statutes or the security first rule.
78. A provision authorizing a mortgage holder to call all amounts remaining unpaid due on a material default under the trust deed is referred to as a(n):

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