18 Questions
A temporary postponement of mortgage payments. It is a form of repayment relief granted by the lender or creditor in lieu of forcing a property into ______.
foreclosure
Underwriting _________: guidelines by which a loan is analyzed to ensure that it meets credit standards and that the terms and conditions of a loan are appropriate to its risk and maturity.
standards
An ______ statement refers to a signed certification by the owner of property, against property, setting forth the present status of liens against said property.
ownership
The amount of a charge or payment expressed as a percentage of some other amount, or as a basis of calculation (i.e. 4%).
interest
A bailment that conveys possessory title to property owned by a debtor to a creditor to secure repayment for some debt or obligation and to the mutual benefit of both parties.
escrow
The transfer of a title to the borrower after a loan has been fully paid.
release
A ______ postponement of mortgage payments. It is a form of repayment relief granted by the lender or creditor in lieu of forcing a property into foreclosure.
temporary
Underwriting ________: guidelines by which a loan is analyzed to ensure that it meets credit standards and that the terms and conditions of a loan are appropriate to its risk and maturity.
standards
An ______ statement refers to a signed certification by the owner of property, against property, setting forth the present status of liens against said property.
ownership
The amount of a charge or payment expressed as a percentage of some other amount, or as a basis of calculation (i.e. 4%).
interest
A bailment that conveys possessory title to property owned by a debtor to a creditor to secure repayment for some debt or obligation and to the mutual benefit of both parties.
assignment
The transfer of a title to the borrower after a loan has been fully paid.
conveys
A ______ postponement of mortgage payments. It is a form of repayment relief granted by the lender or creditor in lieu of forcing a property into foreclosure.
temporary
The transfer of a title to the borrower after a loan has been fully paid is known as ______.
conveyance
Underwriting guidelines by which a loan is analyzed to ensure that it meets credit standards and that the terms and conditions of a loan are appropriate to its risk and maturity is called ______ underwriting.
credit
An ______ statement refers to a signed certification by the owner of property, against property, setting forth the present status of liens against said property.
ownership
The amount of a charge or payment expressed as a percentage of some other amount, or as a basis of calculation (i.e. 4%) is called ______.
interest
A bailment that conveys possessory title to property owned by a debtor to a creditor to secure repayment for some debt or obligation and to the mutual benefit of both parties is known as a ______ bailment.
pledge
Study Notes
Mortgage Payments and Relief
- A temporary postponement of mortgage payments is a form of repayment relief granted by the lender or creditor in lieu of forcing a property into foreclosure.
Underwriting Guidelines
- Underwriting guidelines are used to analyze a loan to ensure it meets credit standards and that the terms and conditions are appropriate to its risk and maturity.
Statement of Liens
- A statement refers to a signed certification by the owner of property, against property, setting forth the present status of liens against said property.
Percentage Rate
- The amount of a charge or payment is expressed as a percentage of some other amount, or as a basis of calculation (e.g. 4%).
Bailment
- A bailment conveys possessory title to property owned by a debtor to a creditor to secure repayment for some debt or obligation and to the mutual benefit of both parties.
Transfer of Title
- The transfer of a title to the borrower occurs after a loan has been fully paid.
Monetary Policy
- This policy refers to the way in which the federal government manages its money.
Test your understanding of real estate financing principles with this crossword puzzle from Chapter Nine of RE-121. Fill in the blanks to reveal key terms and concepts related to mortgage payments, underwriting guidelines, and financial statements.
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