A borrower on a conventional mortgage makes a 25% down payment.With that level of down payment, she will be required to obtain

A.FHA insurance

B.VA insurance

C.private mortgage insurance

D.GNMA payment guarantees

E.none of the above

Of the following, which form of mortgage securitization is used the least?

A.CMO

B.Mortgage-Backed Bond

C.Mortgage Pass-Through

D.Home Equity Loan

E.Second Mortgage

10.Which of the following mortgage fees is not commonly paid by the homeowner at, or prior to, closing on the purchase of a house?

A.Application fee

B.Title search fee

C.Title insurance fee

D.Appraisal fee

E.Prepayment penalty

9.All else being equal, payments are ________ on a 15-year fixed-rate mortgage than on a 30-year fixed-rate mortgage, and ________ is paid on a 15-year mortgage than on a 30-year mortgage.

A.lower; less interest

B.lower; less principal

C.higher; less interest

D.higher; more principal

E.higher; more interest