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MN Real Estate Salesperson Exam 1 > 5.5 > Flashcards

Flashcards in 5.5 Deck (9)
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0
Q

A _______ is a financial instrument whose interest and principal payments are either derived directly from the cash flows of an underlying pool of mortgages, or are “collateralized” by such a pool.

A

Mortgage backed security (MBS)

1
Q

Mortgage backed securities (MBSs) allow small investors with the ability to diversify across a pool of _______.

A

Loans

2
Q

Sometimes mortgage-backed securities are called _______ securities.

A

Pass-through

3
Q

On the settlement statement, a ______ to the seller decreases the net.

A

Debit

4
Q

_____ require the buyer to have proof of homeowner’s insurance at or before the closing.

A

Lenders

5
Q

The ____ and _______ must disclose known material facts about the property to the buyer.

A

Seller and agent

6
Q

If the seller’s side of the closing statement shows a _____ the seller is charged-or “owes”- that amount.

A

Debit

7
Q

A _____ is a group of investors that owns real estate.

A

Syndication

8
Q

A _____ is the most common form of deed.

A

Warranty Deed