Realtor Sales Associate Course_VIPs

Real estate professionals bring to the transaction expert knowledge regarding the following:

Finding and specializing in a particular neighborhood or type of property is considered one of the ______ in residential sales.

Many licensees will concentrate on one type or style of property or on one particular neighborhood.

The value of a business including its incomes, tangible and intangible asset and goodwill, in addition to the value of real property.

Name or brand.

Appraisals used in a ____ must be prepared in compliance with USPAP by appraisers registerd, licensed or certified under Part II of F.S. 475.

Appraisals used in a federally related transaction must be prepared in compliance with _____.

Appraisals used in a federally related transaction which is administered by the _____.

Realtors prepare this, which is a value estimate based on recent sales of similar properties in the same neighborhood.

A CMA may not be referred to as a(n) ____.

These people provide professional advice to members of the public based on their personal judgment.

Real estate counselors are usually compensated ____.

When a contractor builds on his or her own land with the hope of locating a purchaser after construction has been completed.

A developer that acquires a large tract of land and builds a model center from which sales may be made.

Transfer of ownership of streets and sidewalks from developers to the city.

Planning and zoning, property taxation, building and health codes and regulations and building moratoriums affecting development are examples of...

Applicants of Florida real estate license are ____ to be a resident of the state of Florida, or be a citizen of the US.

An applicant for a Florida real estate license who is a non resident or licensees who become nonresidents (within 60 days) must file a(n)...

Applicants must have attained the age of majority, whcih in Florida is ____ or older. They must also have a _____.

Applicants must disclose any criminal convictions other than ____.

Applicants must answer question 1 of their application carefully and disclose all convictions. Failure to answer correctly may result in disciplinary action, including...

If an applicant to take a state examination is denied by the Flroida Real Estate Commission, the applicant must be notified ____ and allowed ___ days to file for a formal hearing.

This term indicates an individual's right to provide real estate services.

This term indicates the status and place of operation for both individuals and businesses.

This has a no grace period.

All sales associates, including attorneys with a sales associate license, whether actively or inactively licensed, must complete a ____ hr post license course prior to the expiration date of their initial license period.

Failure to complete the post license education will cause the license to become...

To get a new license (if lost due to not doing the postlicense education), he or she would be required to take the ____ hour prelicense course over again and pass another state exam.

An applicant for a broker's license may choose to continue employment in a ___ capacity with a current employer subsequent to passing the state exam.

If an applicant who becomes a broker decides to work under a broker, they have what license?

If an applicant who becomes a broker decides to work under a broker, they are called what?

Does Florida have reciprocity with any other state(s)?

This would allow for licnsees of one state to practice in another state.

Florida has entered into contractual aggreements with a limited number of states recognizing the similarity in the content of their mutual educational and experience requirements.

A nonresident of Florida that has been ____ in another state for ____ year(s) or more who wishes to become licensed in Florida (and the state has mutual recognition) may take a test of ___ questions and get ___ answers right.

A nonresident of Florida passes the mutual recognition exam, do they need to take a prelicense course?

"For another" indicates the service is being performed for another person or entity, not for the one performing the service. True of False?
True False

What is considered compensation?

If Laura (not licensed) buys a home in Florida for Bob what can she not do?

Laura (not licensed) sells her own home in Florida. Is it legal?

Persons granted authority under a power of attorney to act for others in some capacity such as signing legal documents.

Persons who may perform legal services on behalf of their clients; tehy may prepare documents, handle closings and give legal advice. They may not perform services of real estate for compensation, be paid sales commissions or referral fees.

Subject to the same rules that apply to attorneys at law.

Persons appointed by a court of law to perform sercives of real estate. They may do so for a fee or salary but not a commission.

Court appointees are paid how?

Trustees, Receivers, Masters in chancery, court-appointed appraisers are exempt under the category of:

Cemetery lot salespersons are not exempt. True or False?
True False

A sales associate or broker associate must be employed as an agent to a broker or owner-employer ___ performing real estate for compensation.

An individual or entity that is in the business of buying, owning and/or developing real estate.

The owner-employer is ____ with the Department but receives no _____.

There are seven member of _____.

FREC members are appointed by the ___, suject to the confirmation by the _____>

___ members must be actively licensed real estate brokers that have been licensed in Florida for at least ____ years prior to their appointment; ____ member(s) may be any actively licensed real state licensee who had been licensed in Florida for at least ___ years prior to his/her appointment. ____ member(s), also called _____, cannot hold or have ever held a real estate license prior to their appointment. One member must be over ____ years old.

FREC's executive powers can be exercised by the chairperson alone, delegated by quorum vote, or decided upon by a majority?

This power gives the FREC the power to make and pass rules regulating the operation of licensees and the real estate profession.

The initial license period is how long?

All licenses expire on which two dates in the year?

This replaces a prior license and is requested when a license is about to expire.

The DBPR mails a notice of renewal to the last known address of the licensee approximately how many days prior to the date of license expiration?

Renewals are effective when?

The request for a renewal must be made prior to the expiration of the current license to prevent the license from becoming what?

An individual that does not request renewal, pay the required fees or maintain his or her continuing education requirements will automatically be placed in what status?

Sally has missed the deadline for her continuing education. Her license is now...

Lisa didn't pay the required fees by the time they were due. Her license is...

John's license was put on involuntary inactive. He has until what time period to get it changed?

If a broker's license is suspended, revoked or otherwise void or ineffective, the licenses of all persons licensed under such a broker become...

Group license is an actual license. True or False?
True False

Group license is a term used, not an actual license. True or False?
True False

If a licensee decided to no longer practice real estate, he or she could turn the license back into the department. The license would then be...

A sales associate or broker associate may have ____ registered employer(s) at a time.

A single real estate license that can be obtained if the sales associate or broker assocaite works for one owner-developer with affiliated organizations providing real estate services in DIFFERENT GEOGRAPHIC AREAS.

A group license is used only if the properties are...

What term is usually associated with "brokers only"?

Who can be issued a multiple licenses?

A broker can be issued additional licenses in two or more capacities by requesting what?

Authorized by the employer to perform a SINGLE act.

As of what date in history are all residential real estate professionals required to disclose the Brokerage Relationship Disclosure Act?

A residential transaction is defined as what?

The role of a transaction broker is to provide what?

A transaction may represent the buyer, seller, or both. True or False?
True False

Limited representation is usually associated with what kind of broker?

Limited representation allows a licensee to assist a real estate transaction by working with both the buyer and the seller equally. True or False?
True False

Transaction brokers are representing their customers. True or False?
True False

The single agency relationship can be disclosed orally or in a written agreement. True or False?
True False

The employer in a single agency relationship.

The term principal is usually associated with what agency relationship?

A single agent may represent a buyer, a seller, or both. True or False?
True False

A single agency realtionship is the only one that establishes a what relationship?

A fiduciary relationship is associated with what agency relationship?

John hires Lisa to buy him a home. He instructs her to purchase a trailer home which she does promptly even though she doesn't agree with the choice. This is an example of what?

A no brokerage relationship is usually associated with this term.

For Sale By Owner is usually associated with this term.

John is Sally's broker. He receives an oral offer from Fred that is way below the asking price. What should he do?

A Florida broker may pay this, or share a commission with, a broker licensed or registerd by another state or foreign country.

John is not licensed. John refers Sally to Dan (a Florida broker). Dan sells Sally a home. Can John accept a referral fee?

John's office is in a motor home. It has one enclosed room. Is this acceptable?

John has an office in a local office building. It is just one big room. Is that acceptable?

John has an office in a local office building. It has 4 enclosed rooms. Is that acceptable?

If a broker opens more than one office, each additional office must...

If a broker closes a branch office, the regristration of the branch office ___ be transferred.

Each new branch office location must be registered with _____, and the appropriate fee must be paid.

If a branch office is closed and later reopened in the same location during the same 2 year license period, a ____ of the license may be requested, ____ additional fee.

The sign of a broker operating as a sole proprietorship must contain...

The sign of a brokage partnership or corporation must contain...

A sales associate or broker associate's name ___ appear in the ad in addition to the registered name of the brokerage.

If a licensee includes his or her personal name in the ad, the licensee's last name must appear exactly as it is registered with ____.

Blind ads are legal but highly distrusted. True or false?
True False

Any real estate advertisement that does not contain the registered or trade name of the broker or for which there is doubt that the ad is that of a real estate broker.

John Smith's sign reads: Global Dynamics, Inc. John Smith, Licensed Real Estate Broker. Is it legal?

John Smith's sign reads: Global Dynamics, Inc. Licensed Real Estate Broker. Is it legal?

Brokers, sales associates and broker associates are entitled to deal in real property for personal benefit. True or False?
True False

John is a licensed realtor purchasing a home for himself. He put an ad out in the paper for his home but didn't specify that he is a realtor and is not doing it for others. Is that legal?

Considered to be promissory notes and can be accepted as earnest money with the seller's approval.

Postdated checks cannot be accepted as earnest money. True or False?
True False

Another name for escrow account.

Another name for trust account.

An escrow account may be in a....

A broker is ____ to intermingle or deposit the personal funds of any person with any funds being held in escrow, trsut or on condition.

Escrow funds entrusted to a broker may be placed in a(n) ____ account with the written authroization of all interested parties and with agreement as to who shall receive the interest earned.

The misuse, commingling or intermingling of, or failure to account for funds or property entrusted to any licensee is known as what?

The broker must deposit the escrow funds in what time period?

The sales associates must turn the escrow funds over to the banker in what time frame?

Conflicting demands from the buyer and seller demanding that the broker release escrowed funds.

If a broker receives conflicting demands for escrowed funds of it the broker has good faith doubt as to which person is entitled to escrowed property, the broker must...

Mediation requires a written consent from all parties. True or False?
True False

Third party reccommends a solution, people can choose to follow or not.

Arbitration requires a written consent from all parties. True of False?
True False

All parties agree in advance by contract to abide by the third parties decision.

The award is not enforcible by the law if the responsible party fails to abide by the arbitrator's decision. True or False?
True False

In a court action, the broker would file what if he or she did not claim any rights in the deposit under dispute?

Occurs when a broker fails to disclose information to a party, to whom the broker has such a duty, and that is material to his or her decision.

Occurs if a broker operates in a reckless, careless, and excessive negligent manner.

Sean knows and yet fails to disclose that there is lead paint in the home Sally just bought. That is an example of what?

Sean's sales associate forgets to collect an escrow deposit. The associate can be charged with what?

Misstatement or omission of facts.

Sean tells Sally that the house is bigger than it actually is. That is an example of what?

Youngest age a broker can be.

Youngest age a sales associate can be.

Business formation in which two or more persons agree to share the profits or losses of a business.

A general partnership must be expressed in a written document. True or False?
True False

No documents need to be filed with the state to create a partnership. True or False?
True False

If a partnership is sued...

A temporary business involving a single transaction or a predetermined number of transactions.

Can provide real estate brokerage services if composed of separate real estate brokers.

If a joint venture is composed of seperate real estate brokers, they need to register with the DBPR. True or False?
True False

An artificial person created by law.

Owners of the corporation are issued shares of stock in the corporation and are known as what?

The stockholders elect who to manage the affairs of the corporation.

No business is allowed to use this word in its name unless it is formed legally as a corporation or unless the words "not inc." are added.

Brian owns his own business and its name is: Brian's Company. Is that legal?

Alex owns her own business and its name is: Alex Realty Company Not Inc. Is that legal?

Mike owns her own business and its name is: Mike Realty. Is that legal?

A real estate brokerage corporation must provide proof of legal corporate existence prior to inital registration with the Department. True or False?
True False

Most criminal penalties imposed by criminal courts are what kind?

A criminal violation of Ch 475 by a licensee typically would be classified as what?

May be punished by a fine up to $500 and/or imprisoned for up to 60 days.

Second degree misdeamons may be punished how?

Rental informaiton violations are punished with what charge?

Punishable by a fine up to $1,000 and/or imprisonment for up to 1 year.

A first-degree misdemeanor is punishable how?

Anyone that acts as a broker or sales associate without being the holder of a valid and current active license is guilty of what crime?

A third degree felony is punishable how?

Punishable by a fine up to $5,000 and/or imprisonment for up to 5 years.

May be imposed by the Commission for violations of law or rules in amounts up to $5000 per offense.

Administrative fines may be imposed by FREC for violations of laws or rules in amounts up to _____.

Considered to be a temporary penalty.

Commission may suspend the license of a licensee for what maximum period?

A notice of noncompliance can be compared to what?

FREC adopted this rule to handle minor violations by licensees.

A violation is considered to be ___ if it does not result in economic or physical harm to persons or adversely affect the public.

This can be compared to a warning.

A citation can be compared to what?

A ticket can be compared to this.

Can be issued for specified violations by the DRE when no substantial threat to the public exists or if a violation is in the process of being corrected.

This kind of complaint is one that alleges a violation of law or rule has occured and contains sufficient supporting evidence.

The DRE ___ investigate legally sufficient complaints.

Who investigates legally sufficient complaints?

When can you rely on an investigator's opinion?

At the conclusion of an investigation, the investigator submits a report to who?

The investigators report cannot contain what?

In a formal hearing, the defendant has what rights?

The administrative law judge can issue subpoenas for witnesses and compel attendance of a witness. True or False?
True False

If the license does not agree with the final order of FREC, what may be filed with the Florida District Court of Appeals within 30 days of the final order?

A petition for review may be filed with who within 30 days of the final order?

A petition for review may be filed with the Florida District Court of Appeals within what time period of the final order?

Who issues injunctions?

The DBPR issues injunctions. True or False?
True False

If the cease and desist order is followed, the matter is dropped without further action. True or False?
True False

If the individual fails to abide by the cease and desist order, what is requested from the court to enforce the order?

Created for the purpose of reimbursing persons or entities that have suffered monetary damges as the result of fraudulent acts committed by real estate licensees.

Reimbursement from the recovery fund for ______ is limited to maximum of ______ or the unsatisfied portion of the judgement, whichever is less.

Once a payment is made from the recovery fund in the name of a licensee, the real estate license of that individual is _______ until the money has been repaid plus interest.

Once a payment is made from the recovery fund in the name of a licensee, the real estate license of that individual is automatically suspended until...

How much money does a broker put into the Florida Real Estate Recovery Fund per year?

How much money does a sales associate put into the Florida Real Estate Recovery Fund per year?

How much money does a broker put into the Florida Real Estate Recovery Fund per renewal?

How much money does a sales associate put into the Florida Real Estate Recovery Fund per renewal?

If the total amount in the Florida Real Estate Recovery Fund reaches ____, collection of the fees is discontinued until the amount in the recovery fund falls below ___.

Specifically prohibits profiling against race, religion, sex, or national origin.

Consists of inducing an owner to list or sell on the basis that the neighborhood is deteriorating or becoming transitional due to an influx of minority persons.

Pushing an individual, directly or indirectly, into or away from a neighborhood on the basis of race, color, religion, sex or national origin.

Carter, a broker, tells John that he should sell his house because Asians are "taking over" the neighborhood. This is an example of what?

Daniel shows Jack O'Neill only Irish neighborhoods. This is an example of what?

Refusal by a lender to approve a mortgage loan based on a property being located in a certain geographical area, the age of the property, the income level of the residents or the racial composition of the area.

Apophis is a lender who refuses to approve a mortgage to Teal'c because Teal'c owns a century old home. This is an example of what?

Americans with Disabilities Act (ADA) was passed in what year?

Purpose of providing the same employment opportunities to qualified individuals with disabilities that are available to persons without disabilities and to provide access for all such persons to public buildings.

The landlord has otions and procedures for handling the security deposit money and advance rent. What is one of these ways?

Posting a surety bond with the clerk fo the circuit court in the country in which the dwelling unit is located in teh amount of the total security holdings or $50,000, whichever is less, is a way of handling a security deposit. True or False
True False

Upon the tenant's vacating the premises, the landlord has this time frame to return the security deposit including accrued interest, if any, if there is no intention of making a claim for damages against the deposit.

If the landlord intends to make a claim for damages against the deposit the landlord has this time period in which to notify the tenant.

A lease in which the tenant agrees to pay a fixed rental amount, and the landlord pays all expenses related to the property (ex: real estate tax, insurance, maintenance).

Residential leases are usually what kind of leases?

A lease in which the tenant pays a fixed rent plus all or a portion of the operating costs such as real estate taxes, insurance and maintenance.

Commercial and industrial leases are usually what kind of leases?

This type of lease is common in retail centers and malls.

A lease in which the tenant pays a monthly base rent (flat fee) plus a percentage of the annual or monthly gross sales of goods sold on the premises.

Base rent.

Includes the physical land and improvements (real estate), together with legal rights to own or use the property.

Rights of an owner whose property borders on a flowing waterway such as a river or stream.

Tests used by courts to distinguish between real and personal property.

A projector is an example of what?

Articles of personal property that have been attached to real estate being rented or leased by a tenant and used in the conduct of business.

Five large "sticks" in the bundle of legal rights.

A fee estate held by two or more persons. Each person has an undivided interest in the whole property.

A tenancy in common owner ___ leave his or her interest in a will.

Dumbledore has a tenancy in common home. In his will, he specifies that his home should go to Harry Potter. Is that legal?

A fee estate shared by two or more persons that must have equal and undivided interest.

Upon death of a joint tenant owner, the home goes to who?

Dumbledore has a joint tenancy home. In his will, he specifies that his home should go to Harry Potter. Is that legal?

An estate for a husband and wife only.

The marriage is considered to be the owner of the property with each spouse having a right of survivorship.

Mary and John married and moved into a tenancy by the entirities estate. John dies but in his will he requests that their son take the house. Is that legal?

In the event of a divorce (in a case of a tenancy by the entirities), the ownership converts to what unless dictated by a court?

A freehold estate created when an owner of a fee simple estate conveys ownership to another, but only for the balance of the lifetime of the party to whom the property is conveyed.

Aunt Martha is given a life estate. What must be written in the deed?

The party that created the life estate

The grantor of a life estate may wish to have the property ownership returned to him or her or to his or her heirs. True or False?
True False

The right to regain the ownership of a life estate.

The grantor may pass a life estate to anyone they choose. True or False?
True False

If someone, other than the original owner is to receive the ownership of a life estate after the life tenant passes.

A tenancy for years is really just a(n) what?

A nonfreehold estate with the tenant in lawful possession of the property under an agreement with the landlord for a specified period of time.

Property owned by one spouse as seperate property can be sold during the owner's lifetime without the concurrence of his or her spouse. True or False?
True False

Separate property.

Real property owned separately prior to marriage, or acquired by inheritance or gift during the marriage.

A forced sale.

Judgement liens

The Florida Constituion ____ homestead property from the execution and foreclose of the property to satisfy personaldebts against the head of a household.

The amount of property protected by homestead rights is limited to ____ if the homestead is located within a municipality OR to ____ if located outside of a city.

Cooperative ownership is distinct from condominuium ownership. True or False?
True False

A corporation that buys and owns a multiunit building.

Shares of stock in a cooperative assocaitaion are sold to individuals who in turn are given what?

Shareholders enjoy the same benefits of ownership as any other owner of real estate. True or False?
True False

Legal notice

Achieved by recording documents in the public records. (Recording a document has the same legal effect as showing it to the entire world).

A legal principle under which an owner may lose title to another person who has taken control of the property.

A squatter is an examples of what?

A deed must meet what requirements?

The grantee is required to sign the deed. True or False?
True False

The grantor is required to sign the deed. True or False?
True False

Also called the "to have and to hold" clause

Specifies the legal rights being conveyed.

Best type of deed for a seller.

Contains no warrants of any kind.

The grantor states that any interest they may have in the property is relinquished to the grantee. The grantor does not promise to have any rights in the property, but any he or she may have are being conveyed.

A deed in which the seller/grantor is not held responsible for anything.

Deed in which grantor promises to defend the title against any and all claims.

Most common type of deed

Type of deed that provides the best protection to the grantee of any deed.

The defaulted deed used if none other are specified in the contract.

Form of general warranty deed used to convey ownership of individual condominium units from the association to the public.

Allows local, state or federal government, railroads, public utilities, and public housing authorities to obtain ownership to private property.

Another name for taking

Florida Power and Light decides to construct on your yard. What process do they use to get you off your property?

Florida Power and Light decides to construct on your yard. What right/power do they use to get you off your property?

Take presidence over all other types of liens.

Types of Superior Liens:

Priority of this type of lien is based on the date of recording in the public records, not amount of the lien.

Junior liens are based on what?

Mortgage lien is an example of a junior or superior lien?

A voluntary pledge of property as security for repayment of a loan.

A contractor or builder that has not been paid money due them is entitled to a lien against property for materials or labor used to build or improve the property.

Metes and bounds method

Can be used to describe regularaly or irregularly shaped tracts of real estate.

Measurements of distance such as inches, feet, yards, and miles.

Refer to compass directions to property boundaries.

Provides the most accurate type of legal description.

Can be metal or concrete and are found set in the groun. They are initial reference point for a survey.

The survey begins with giving directions from the monument to the edge of the property. This is called what?

A square on the grid represents what?

A township is split into how many sections?

A township is how big?

Each section in a township is how big?

Where is section 31 located in a township?

Where is section 6 located in a township?

Lot and block system

Plat method

Surveyor's method

Method of legal descripting used to identify small parcels of property in subdivided areas and cities.

Lot 2, Block A of Orangewood Subdivision, recorded on Page 92 of Book 105 in the Public Records of Lemon County, Florida is an example of what legal description?

NE 1/4 of the SW 1/4 is an example of what?

What four essential elements are necessary to create a valid contract?

An offer and acceptance, or meeting of the minds. A mutual understanding of the terms of the contract.

Money or anything of value that can be converted to money. This includes cash, personal propertym real propertym or enforceable promises.

Love and affection, which are incapable of being expressed in terms of money, are called what?

Exists when some or all of the terms and conditions can be assumed/inferred by the nature of the agreement or the words and actions of the parties.

Original Statue of Frauds was enacted in England in 1677 to...

This law requires a contract for the transfer of a right or interest in real estate to be in writing or to be enforceable.

An OFFER can be terminated in what ways?

There are 3 basic remedies for a breach of contract as follows:

(Remedy for Breach in Contract:) The party not in breach can bring a suit in court to cancel the contract and ask the court to put the parties back in their original positions.

(Remedy for Breach in Contract:) The party not in default asks the court to require the other party to perform as agreed in the contract.

(Remedy for Breach in Contract:) The injured party can sue for damages; suit typically involves a request to the court to be financially compensated for harm suffered.

Damages agreed upon and specified in the contract.

Sally asks for her deposit back as specified in the contract. This is an example of what damage?

Damages not specified in the contract.

Compensatory requests are associated with what kind of damages?

This law provides time limits within which parties are allowed to bring legal action to enforce their rights under a contract.

The sale, transfer or subrogation of rights in a contract.

An assignment terminates a contract. True or False?
True False

If it ends with -or then it means the party is...

If it ends with -ee then it means the party is...

A contract between the asignee and the assignor.

Gives the broker the best protection of the three types of listings.

The exclusive right of sale contract is best for whom?

A kind of lay away for contracts

A right to buy a property during a specifed period of time, at a specified price. It is NOT an obligation to buy the property, as is the case with a sales contract.

The only obligated party in the option contract is who?

Sellers of residential property in Florida are required to disclose any material defects. The use of an "As Is" provision in a contract does not relieve the seller of this responsibility. True or False?
True False

What allows the borrower to retain the ownership of the property during the loan period?

Lien theory allows who to retain the ownership of the property during the loan period?

hen money is borrowed to purchase real estate, the lender requires the borrower to sign what?

Contains the name of the parties, the rate of interest, the amount of money borrowed and the loan repayment terms.

A promissory note is a contract between the lender and the borrower. True or False?
True False

When the loan has been paid in full, the ___ should receive from the ___ a letter of satisfaction.

When the loan has been paid in full, the mortgagor should receive what from the mortgee?

This clause allows a lender to increase the interest rate based on the occurrence of an event, such as a change in the use of the property.

Lender's charge discount points to ___ the profit on the loan.

One discount point is equal to what?

Housing Expense Ratio is calculated how?

The Loan to Value Ratio is calculated how?

To calculate the loan to value ratio, the loan amount is divided by the ____ of the sales price or appraised value.

If all lien holders have been paid from the proceeds of the foreclosure sale, any excess remaining is paid to ____.

The Real Estate Settlement Procedures Act (RESPA) of 1974 covers most ____ mortgage loans used to finance the purchase of one-to-four family properties.

RESPA requires each loan applicant to be provided with the information booklet. What is it's title and what does it enclude?

RESPA requires lenders to provide ____ of settlement costs no later than 3 business days following the date of mortgage loan application.

RESPA requires Uniform Settlement Statements (Closing Statement or HUD-1) be completed and provided to the borrower at least ___ day(s) prior to closing if requested,

Uniform Settlement Statement

Requires that borrowers be clearly shown the cost of credit in both dollars and percentages.

The FHA does not make loans. True or False?
True False

Introduced by the Mortgage Guarantee Insurance Corporation (MGIC) in 1957 and is currently available from several competeing firms.

Federal lending regulators usually require this insurance when the loan amount exceeds 80% of the value of the property.

The principal portion of the payment used to replay the loan. Most conventional, FHA, and VA loans are these.

The largest source of funds for financing both apartment projects and commercial properties.

Juan decides to create a shopping center in Coral Gables. He should turn to who (because they are the largest source of funds for these developments)?

_____ are governmental or quasi-governmental agencies.

Principal secondary lenders include what three groups?