52 53. 5d. 55. 55. 5?. 53. 59. 5D. Please use your answer sheet . Prior to closing a carryback sale, the seller needs to request the existing mortgage holder waive their right to call the mortgage on the sale and carrybaclr of an allinclusive trust deed {AND}, called a{n}: a. reverse assumption. c. leveraging agreement. b. effective yield. d. All of the above. Aln] . used most trequently from the late 196th to the late 1El'r'Tls, occurs in a sale of real estate when the seller retains title to the property until all or a prescribed part of the purchase price has been paid. a. equitable conversion c. land sales contract b. contract escrow d. verbal agreement A transaction structured as a lease-option is classied as a[n} and does not change a buyers or seller's rights and obligations under mortgage and contract law. a. month-to-month rental agreement c. sale b. lease d. adverse possession To report a transaction to the internal Revenue Service {IRS}, am} is used when a formal sales escrow is not opened to handle documents and funds on a reverse trust deed transaction. a. IRS 1D31 form. c. UCC-l Financing Statement b. IRS 10993 form. d. None of the above. Doguments the buyer needs to gather and submit to the lender to process the mortgage include recent pay stubs an : a. W-Es or other tax documents. c. recent tax returns. b. recent bank statements. d. All of the above. The mandates lenders and mortgage holders active in the secondary mortgage marketdisclose all mortgage related charges on mortgages used to purchase, refinance or improve onetolour unit residential properties. a. Truth-intending Act {TILA} c. Home Affordable Modication Program {HAMP} b. Real Estate Settlement Procedures Act {RESPA} d. None of the above. The is used by lenders to evaluate a buyer's ability to make timely mortgage payments, known as the buyer's mortgage capacity. a. loantovalue [LTV]: ratio c. Eloth a. and b. b. dehttoincome [DTI] ratio d. Neither 3. nor b. implements the Truth in Lending Act {TlLA} disclosures by consumer mortgage originators. a. Regulation Z c. Eloth a. and b. b. Regulation K d. Neither a. nor 1). A fee improperly paid to a transaction agent as compensation for rendering no service other than the referral of a principal in a transaction for 1which the agent is already paid a fee is an example of a{n}: a. lender-paid point. c. advance fee. b. customarv charoe. d. kickback