1. Define the term amortized but write down its meaning in your own words in reference to amortized mortgages.

2. Explain what an interest only mortgage is and who is eligible for these types of mortgages

3. Is a mortgage contract an asset or a liability to the lender?

4. Are all mortgages secured debt instruments? 5. Mortgages can be insured? Who insures mortgages and why?

6. Mortgage companies, savings institutions and commercial banks originate mortgages. Do mortgage brokers originate mortgages? If not, what do they do?

7. Can mortgages be sold? If so, who buys mortgages?

8. Whats the difference between Prime and Subprime mortgages?