Chapter 9

Two or more consecutive quarters of negative growth is known as a...?recessionA scarcity of supply combined with strong demand creates a...?seller's marketThe cost of borrowing capital, usually expressed as a percentage is known as...?interest rateAn oversupply plus lessened or decreased demand creates a...?buyer's marketA seller's attempt to sell real estate whereby the liens are greater than the value of the property is known as a...?short saleA term used to denote that the real estate has been foreclosed upon is referred to as...?reo real estate ownedAn individual at a lending institution who determines credit worthiness in order to qualify an applicant for a loan is referred to as a...?underwriterA loan whereby there is NO government participation or cooperation is known as a...?conventional loanA loan whereby there is government participation or cooperation is known as a...?unconventional loanA one-time premium paid at the closing pursuant to the purchase is known as...?mortgage insurance premiumThe marketplace whereby loans are originated is referred to as the...?primary mortgage marketThe marketplace whereby the loans that were originated in the primary mortgage market are bought and sold is referred to as the...?secondary mortgage marketWhich of the following institutions are active in the secondary mortgage market...?fannie mae ginnie mae freddie macA broker who arranges a mortgage loan between a lender and a borrower for a fee is referred to as a...?mortgage brokerA person whose principle business is the originating, financing, closing, selling and servicing of loans secured by real property for institutional lenders on a contractual basis is referred to as a...?mortgage bankerAn interest rate in a real estate loan which by the terms of the note varies upward and downward over the term of the loan depending on money market conditions is known as...?variable interest rateA penalty for paying off a loan before its maturity date is known as a...?prepayment penaltyAn acceleration clause granting the lender the right to demand full payment of the mortgage upon a sale of the property is referred to as a...?due on sale clauseThe value of an asset minus the debt is known as...?equityThe value of an asset minus the debt is known as...?true

Recent flashcard sets

Adjectives + prepositions

16 terms

ap econ finals formulas

23 terms

oef 1.1 p. 60

12 terms

Sets found in the same folder

30 terms

30 terms

30 terms

30 terms

Other sets by this creator

30 terms

30 terms

30 terms

30 terms

Verified questions

accounting

(Adapted from CPA examination.) Burch Corporation began a merchandising business on January 1, 2010. It acquired merchandise costing $100,000 in 2010,$125,000 in 2011, and $135,000 in 2012. Information about Burch Corporation’s inventory as it would appear on the balance sheet under different inventory methods follows:

\begin{array}{lccc} \hline &\textbf{Balance Sheet Inventory Amounts}\\ &\textbf{LIFO}\quad\textbf{FIFO}\quad\textbf{Lower of Cost}\\ \textbf{December 31}&\textbf{Cost}\quad\textbf{Cost}\quad\textbf{or Market}\\ \hline 2010&\$40,200\quad\$40,000\quad\$37,000\\ 2011&36,400\quad36,000\quad34,000\\ 2012&41,800\quad44,000\quad44,000\\ \end{array}

In answering each of the following questions, indicate how you deduced the answer. You may assume that in any one year, prices moved only up or down but not both. e. Which inventory method would show the highest income for 2012?

Verified answer

business math

Decide whether each of the following statements makes sense (or is clearly true) or does not make sense (or is clearly false). Explain your reasoning.

My bedroom is a rectangular prism that measures $12$ feet by $10$ feet by $8$ feet.