All of the following are risk factors when underwriting the borrower, EXCEPTcollege historyAll of the following are parties to a deed of trust, EXCEPT themortgageeThe parties in a deed of trust arethe borrower (trustor), the lender (beneficiary), and a neutral third party (trustee)Rebecca is looking for a repayment plan with an interest rate that is fixed with payments that are level for the life of the loan. The type of loan that Rebecca is looking for isa fully amortized fixed-rate noteA fully amortized fixed-rate notedescribes a loan with an interest rate that is fixed and payments that are level for the life of the loan. This type of note is the most common type with institutional lenders. It is characterized by regular, periodic payments of fixed amounts, to include both interest and principal, which pay off the debt completely by the end of the term.What is the most straightforward way that an easement is created?Easement by express grantThe legal document that provides evidence of a mortgage debt is called thepromissory noteLenders use guidelines to determine a consumer's maximum loan amount. The guideline is called adebt-to-income ratioAll of the following are specific liens, EXCEPTa judgment lienWhich of the following is NOT a type of leasehold?Joint tenancyIn order to sell conventional loans in the secondary market, they must conform toFannie Mae/Freddie Mac underwriting guidelinesThe terms interim loan, takeout loan, and blanket loan are associated with financingconstruction projectsThe power given to government agencies to take private property for public use or purpose is calledeminent domainA lender that makes mortgage loans includes all of the following, EXCEPTthe VALand is the physical component of real property. Landincludes limited quantities of airspaceRegarding analyzing investments, the time it takes to recover an investment is known as thepayback periodThere are four elements of value, all of which must be present for a property to have market value. Which of the following is NOT one of the elements?PlentyDepending on the appraised value of the property, a qualified veteran can purchase a home withno down paymentWhich is NOT one of the three common ways to describe property?Monument survey systemThe three common ways to describe property are themetes and bounds system,
the Public Land Survey System,
and the recorded plat systemTypical activities of real estate agents include all of the following, EXCEPT:staging open housesReal property includes the real estate andthe bundle of rights of property ownershipWhich is NOT one of the "Three Cs" of credit used by mortgage underwriters?CapabilityA freehold estate is an estate of indefinite duration, which is also known asan estate of inheritance
