Podcast
Questions and Answers
Savings banks and savings and loan associations are commonly known as credit unions.
Savings banks and savings and loan associations are commonly known as credit unions.
False
A mortgage company is a depository institution that accepts deposits.
A mortgage company is a depository institution that accepts deposits.
False
A loan originator arranges loans and is paid through a commission.
A loan originator arranges loans and is paid through a commission.
True
An independent mortgage company is subject to the same regulations as depository institutions.
An independent mortgage company is subject to the same regulations as depository institutions.
Signup and view all the answers
The FHA-insured loan program allowed loans to be paid off over 30 years at a variable rate of interest.
The FHA-insured loan program allowed loans to be paid off over 30 years at a variable rate of interest.
Signup and view all the answers
During the crisis of the 1980s, federally insured savings and loans remained solvent.
During the crisis of the 1980s, federally insured savings and loans remained solvent.
Signup and view all the answers
Credit unions provide financial services only to labor union members.
Credit unions provide financial services only to labor union members.
Signup and view all the answers
Thrifts emphasize savings accounts for large depositors.
Thrifts emphasize savings accounts for large depositors.
Signup and view all the answers
In 2008, the government took over control of Fannie Mae and Freddie Mac due to the credit crisis.
In 2008, the government took over control of Fannie Mae and Freddie Mac due to the credit crisis.
Signup and view all the answers
A credit union is a for-profit financial institution.
A credit union is a for-profit financial institution.
Signup and view all the answers
