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33 Cards in this Set
- Front
- Back
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An estoppel certificate benefits |
Investor |
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Interest only loan is called |
Term or straight |
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Main concept for a package loan |
Collateral is both real and personal |
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Main concept for a blanket loan |
More than one parcel as collateral |
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What releases a mortgage lien |
Satisfaction of mortgage |
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What is forbearance |
Lender refraining from foreclosing |
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Surety bind protects |
Contractor |
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Main concept for the acceleration clause |
All due and payable if a default occurs |
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What is the characteristics of an installment loan |
Equal principal Reduction plus interest |
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A blanket loan contains what type of clause |
Release |
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Who benefits under the assignment of rents clause |
Mortgagee |
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What document would contain a non disturbance clause |
Mortgage |
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True or false an amortized loan has a balloon payment |
False |
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Amortized loan has what type of payments |
Equal principle and interest (level payments) |
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Who signs the estoppel certificate |
Mortgagor |
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Who signs the deed of reconveyance |
Trustee |
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When you borrow money from a lender you sign a note and mortgage. Which one of these would contain a legal description? |
Mortgage |
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True or false interest rate will change with a graduated payment mortgage |
False |
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Loans are sold in which money market |
Secondary |
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Main concept for the alienation clause |
All due and payable if property is sold |
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True or false an installment loan has even payments |
False |
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True or false fha guarantees loans |
False |
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Loans are created in which money market |
Primary |
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What releases a deed of trust lien |
Deed of reconveyance |
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Who benefits under a non disturbance clause |
Tenant |
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True or false. VA guarantees loans |
True |
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Pmi is associated with what type of loan |
Conventional |
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Mip is associated with what type of loan |
Fha |
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What document is security for a note and requires judicial foreclosure |
Mortgage |
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Who verifies the balance on the estoppel certificate |
Mortgagor |
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What document is the evidence of the debt |
Note |
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The method of transferring title to a note |
Endorsement |
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True or false an interest only loan has a balloon payment |
True |
