General Mortgage Knowledge Crossword

The process of collecting loans with similar credit risks, loan terms, and other comparable features into a "pool" and selling it (168)
This GSE does not guarantee mortgages; It guarantees securities that are created from the purchase of non-conventional mortgages (169)
Freddie Mac, Fannie Mae, and Ginnie Mae are examples of (168-169)
______ are mortgages that meet loan limits and other standards to qualify for purchase by Fannie Mae/Freddie Mac (173)
____ are mortgages that do not meet loan limits and other standards (173)
Seller financing is also known as a ________ (175)
For conventional/conforming loans, ______ will be required if LTV is greater than 80% (174)
Seller ________ are a gift from the seller used to pay for closing costs (175)
Borrowers who make a down payment of 10-24.9% can get up to _____ percent in seller concessions (175)
Borrowers who make a down payment of 25% or more can get up to _____ percent in seller concessions (175)
Borrowers who make down payments under 10% can get up to _____ percent in seller concessions (175)
Individuals who own 25% or more of a business are considered to be _________ (175)
Those who earn non-taxed income such as SSI, disability and public assistance are permitted to "________" those earnings by 25% (175)
_______ extends or augment the credit standards established by Fannie/Freddie (176)
_________ mortgages are any mortgage product other than a 30-year fixed-rate mortgage (177)
The FHA does not make, buy or sell loans, it ______ them (177)
FHA was originally created during the ____________ (178)
FHA has _____ lenient underwriting requirements (179)
When a homwowner defaults on an FHA loan, funds are drawn from the ______ to repay the lender (181)
A premium that borrowers pay in full at the time of closing, although this premium can be financed into the loan amount (182)
Borrowers are required to have a minimum _____ score of 580 to qualify for the FHA's 3.5% down payment program (184)
Annual ____ is usually paid for 11 years or for the life of the loan (183)
The basic ________ for eligible veterans is $36,000, those in a high-cost area may qualify for a "bonus ________" (186)
The first step in getting a VA loan is to obtain a _____ (187).
The VA loans are made based on a back-end ratio of up to _____ percent (189)
_________ are made for the purpose of assisting low-income borrowers purchase homes in rural areas (190)
Rural area is defined as having a _______ below 2,500 or having a ________ of up to 5,500 if it is rural in character (191)