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Fixed income > CH 10 Residential Mortgage loans > Flashcards

CH 10 Residential Mortgage loans Flashcards

1
Q

Conforming mortgage

A

One that meets the underwriting standards established by the agencies

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2
Q

Lien Status

A

a mortgage loan indicates the loan’s seniority in the event of the forced liquidation of the property due to default by the obligor

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3
Q

Credit Classification

A

A loan that is originated where the borrower is viewed to have a high credit quality is classified as a prime loan.
Originated where the borrower is of lower credit quality is a subprime loan

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4
Q

What are the agencies

A

Freddie mac
fannie mae

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5
Q

General risks associated with Mortgage loans

A

Liquidity
price
prepayment
credit

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Fixed income (7 decks)

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