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CHAPTER VI
Know thy lender
  1. Which economic cues should you watch when trying to decide which way interest rates are heading?

    a) 10-year and long-term treasury bond market
    b) Major economic indicators such as the Consumer Price Index, Gross Domestic Product, and New Home Sales/Existing Home Sales
    c) Strength or weakness of economy, statements made by the Federal Reserve Board
    d) Long term trends in interest rate cycles
    e) All of the above
  2. Which of the following institutions purchase mortgages in the secondary mortgage market, therefore influencing the direction of mortgage rates?

    a) Fannie Mae
    b) Freddie Mac
    c) Wall Street firms with investors in mortgage-backed securities
    d) All of the above
  3. Which of the following is not true about choosing your lender?

    a) Mortgage bankers usually present you with only one program.
    b) Mortgage brokers shop the rates -- working with more than one lender.
    c) Banks and thifts generally have one menu of products to offer.
  4. True or false: It's really not necessary to investigate your mortgage broker or banker's reputation before purchasing a mortgage.

    a) True
    b) False
  5. True or false: Mortgage shoppers with great credit and easy access to their financial documents can shop pretty much any kind of lender to find the best rate.

    a) True
    b) False

 

TABLE OF CONTENTS

CHAPTER I
  Lesson 1
  Quiz

CHAPTER II
  Lesson 2
  Quiz

CHAPTER III
  Lesson 3
  Lesson 4
  Lesson 5
  Quiz

CHAPTER IV
  Lesson 6
  Lesson 7
  Quiz

CHAPTER V
  Lesson 8
  Lesson 9
  Quiz

CHAPTER VI
  Lesson 10
  Lesson 11
  Quiz

CHAPTER VII
  Lesson 12
  Lesson 13
  Lesson 14
  Quiz

CHAPTER VIII
  Lesson 15
  Lesson 16
  Lesson 17
  Lesson 18
  Quiz

CHAPTER IX
  Lesson 19
  Quiz

CHAPTER X
  Lesson 20
  Quiz

CHAPTER XI
  Lesson 21
  Quiz

CHAPTER XII
  Lesson 22
  Lesson 23
  Lesson 24
  Quiz

CHAPTER XIII
  Lesson 25
  Lesson 26
  Lesson 27
  Quiz

CHAPTER XIV
  Lesson 28
  Lesson 29
  Lesson 30
  Quiz

Definitions

 
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