Across
- 2. After a foreclosure sale, the borrower who has defaulted on the loan may seek to pay off the mortgage debt plus any accrued interest and costs under _______ redemption
- 7. The ______ Loss Underwriting Exchange (CLUE) database allows insurers to share information on a consumer's claims history
- 8. A loan that provides for the full payment of the principal over the life of the loan is an ______ loan
- 9. The borrower under a deed of trust is known as the
- 11. Discount points on a mortgage are computed as a percentage of the _______ amount
- 12. A ______ law limits the interest rate that is allowed to be charged
- 13. In one state, a lender holds a lien on real property offered as collateral for a loan. The borrower retains both legal and equitable title to real property. If the borrower defaults on the loan, the lender must go through formal foreclosure proceedings to recover the debt. This state can be BEST characterized as a _____ theory state
- 14. ______ of mortgage is a document that is available to the mortgagor when the mortgage debt is completely repaid
Down
- 1. A junior lien may become first in priority if the original lender agrees to execute a _______ agreement
- 3. In one state, a mortgagee holds legal title to real property offered as collateral for a loan, and the mortgagor retains the rights of possession and use. If the borrower defaults, the lender is entitled to immediate possession and rents. This state can be BEST characterized as a _____ theory state
- 4. Mortgage _____, which postpones monthly mortgage payments, may be allowed in certain circumstances
- 5. ______ insurance, which will be required by a mortgage lender, will protect against loss due to natural disasters, accidents, theft, and fire
- 6. The ______ Emergency Management Agency (FEMA) administers the National Flood Insurance Program
- 10. A loan in which the borrower makes only interest payments is called a _____ loan