Which of the following is true of mortgage companies?
a. They prefer to create mortgages for resale.
b. They are federally and vigorously regulated.
c. They do not act as financial intermediaries.
d. They prefer loans other than FHA, VA, or conventional mortgages.
Answer: a. They prefer to create mortgages for resale.
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Which of the following would cause a grant deed to be invalid at its inception:
A: Legal incompetence of the grantor; B: Failing to insert the clause "to his heirs and assigns" following the name of the grantee; C: It was signed and dated on a legal holiday; D: None of the above.
Usually the members of a limited liability company:
a. may transfer membership interests without the consent of the other members b. may not transfer membership interests without the consent of the other members c. may not know each other d. must know each other for at least a year before the formation of the company e. none of the other choices are correct