Financial Institutions Markets and Money
Quiz 9: Mortgage Markets
The Major Regulator for the Gnma (Ginnie Mae), Fnma (Fannie
The major regulator for the GNMA (Ginnie Mae), FNMA (Fannie Mae), and Federal Home Loan Banks is Federal Housing Finance Agency.
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Which of the following types of mortgages would be most advantageous to have on your house if you expected the annual rate of inflation would be higher than most people thought? A) reverse annuity mortgage B) interest-only mortgage C) adjustable-rate mortgage D) fixed-rate mortgage
Which one of the following is not true about privately issued passthroughs (PIP) A) They are similar to "Ginnie Maes" in that they are backed by mortgages that qualify for FHA or VA guarantees. B) PIPs are issued by private institutions or mortgage bankers. C) They are similar to "Ginnie Maes" except that they are backed by conventional mortgages that do not qualify for FHA or VA guarantees. D) They are typically used to securitize large, non-conforming mortgage loans called jumbo loans.
A contract designed to use the equity in a home for retirement income without any required payments is called a(n) A) rollover mortgage B) reverse annuity mortgage C) adjustable-rate mortgage D) home equity loan
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