82. In processing a loan, a commitment for private mortgage…

82. In processing a loan, a commitment for private mortgage insurance would be required if the down payment was less than:a. 50%.                      b. 40%.                                          c 20%.                      d. none of the above.                     

30. FHLMC (Freddie Mac) is an example of:a. a secondary mark…

30. FHLMC (Freddie Mac) is an example of:a. a secondary market participant.                              b. a primary market only participant.                                 c. a federal agency lender open only to veterans.d. none of the above.

37. Based on FNMA and FHLMC guidelines, mortgage interest ra…

37. Based on FNMA and FHLMC guidelines, mortgage interest rates are generally limited by lenders to an annual increase of:a. 2%.                                    b. 20%.                                     c. 200%.d. none of the above.