The annual percentage rate on mortgage

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Reference no: EM131878998

Real Estate INVESTMENT

1. Pass - through Mortgage Backed Securities (MBS’s) provide the investor with:

a. less prepayment risk as the originator of a specific mortgage

b. a prorated share of all monthly principal and interest payments

c. no risk from prepayments of loans

d. a weighted average of the monthly principal but not interest payments

2. The Federal National Mortgage Association was formed in part to:

a. buy and sell VA mortgages

b. buy and sell FHA mortgages

c. buy and sell conventional mortgages

d. none of the above

3. The annual percentage rate (APR) on a mortgage is:

a. the contract rate as established by the lender

b. the effective yield taking into account discount points

c. the rate for the first year only

d. the monthly rate multiplied by twelve

4. The amortization schedule of a mortgage shows:

a. that the principal balance declines with each payment

b. that the interest portion of the payment declines with each payment

c. that the portion of the payment representing payment of principal increases with each payment

d. all of the above

Reference no: EM131878998

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