Chapter 3

Question 1

Home Mortgage Disclosure Act 1975

Answer 1

Redlining, lenders report statistical info each year that the lender is not restricting loan.

Question 2

FCSIC

Answer 2

Farm Credit System INSURANCE corporation
insure timely payment of principal and interest on insured notes and bonds, on behalf of farm credit system bank.

Question 3

JONES V MAYER

Answer 3

discrimination of RACE extremely prohibited,

Question 4

CDBG Entitlement program

Answer 4

For Low-moderate income persons, larger cities, urban counties, expand economic opportunities, …

Question 5

IRB ( Industrial Revenue Bond) state of Texas

Answer 5

TAX exempt or TAXABLE financing for eligible industrial and manufacturing projects

Question 6

MCC ( texas state affordable housing corporation TSAHC)

Answer 6

Mortgage credit certificate :

Home buyers to take portion of their annual interest=> tax credit, each year as they occupy the home as a principal residence.

Question 7

Colonias fair land sale ACT

Answer 7

PROTECT those who must rely on CONTRACT FOR DEED to finance property.

1. Require Counties to keep record of contract for deed.
2. Require developer to provide services such as water, waste water, electricity.

Question 8

Farm Credit COUNCIL

Answer 8

council provide services to its member: training, insurance, risk management, discount program.

=> Represent Regulatory interests in FCS

Question 9

Community Reinvestment Act

Answer 9

prevent redlining

Encourage bank and Thrifts to help meet the credits needs of all segment of the communities, including low to moderate income neighborhoods.

Question 10

Farmer Mac

Answer 10

Federal Agricultural Mortgage Corporation

Secondary market for agricultural real estate

Purchase qualified loan or securities backed by qualified loan from lenders

Question 11

Home Sweet Texas home loan program

Answer 11

below 80% of Area Median Family income (AMFI)