Mortgage Financing Loans Assignment | Homework For You

5) The Langoon Family is taking over the mortgages on a condo that they are buying from the Hudsons because the mortgage rate is lower than they could otherwise get. What the Langoons are doing is:

(A) converting their mortgage (B) assuming their mortgage (C) voiding their mortgage. (D) assigning their mortgage.

6) A standard deed which indicates that the current holder is the current owner and has the right to convey the property through a typical conveyance is often referred to as a

(A) Bargain & Sale deed. (B) quitclaim deed (C) general warranty deed (D) deed of trust.

7) An unusual, but sometimes required, deed in which the current signatory states that he/she no longer has any current or future rights to the property is referred to as a:

(A) Bargain & Sale deed. (B) quitclaim deed (C) general warranty deed (D) deed of trust.

8) One of the following is typically awarded a share of partnership profits disproportionate to their investment:

a) Limited Partner b) General Partner c) Club Investor d) Master Limited Partner

9) An end loan is:

a) The date on which a commercial mortgage terminates b) A loan made to the purchaser of a condominium c) A refinancing proposal following maturity of a commercial mortgage d) The first step in the foreclosure process

10) Regarding basic mortgage financing loans, which is incorrect?

a) A “due-on-sale” clause requires mortgage repayment when a property is sold. b) An assumable mortgage can be transferred to a new buyer. c) Commercial mortgages can never be extended. d) Mortgages have a maturity date.

11) In a typical commercial mortgage:

a) The principal is fully amortized during the loan term b) The same amount of principal is amortized each month. c) The amortization schedule is longer than the loan life d) None of the above

12) Which of the following is not used in finding the NOI?

(A) Gross Revenue (B) Annual Insurance Costs (C) Vacancy allowance (D) Mortgage Interest rate

13) Triple-Net leases have the tenant picking up all of the following expenses EXCEPT:

(A) Pro-Rated Taxes (B) Insurance (C) Air Conditioning (D) Marketing Fees for Vacant Spaces

14). We discussed six Basic Property Types, which include all of the following broad categories EXCEPT:

(A) Industrial (B) Office (C) Mixed-Use (D) Medical

15) Zoning designations fall into three broad categories, including all of the following, EXCEPT:

(A) Residential (B) Manufacturing (C) Commercial (D) Financial Services with Broadband

16) When determining the value for stabilized income-producing properties, we look to the following data points for calculations:

(A) cap rates (B) LIBOR (C) BEKA Rates of Distribution (D) Rate of building permits

17) When determining the value for vacant land, we apply the following concept to determine its value:

(A) Residual (B) Renewable (C) Reparations (D) Vituperative. Get Finance homework help today