FHA mortgage insurance:

• A.provides protection to both the borrower and lender lender against losses due to mortgage foreclosure
• B.provides protection to the lender against losses due to mortgage foreclosure
• C.provides protection to the borrower against losses due to mortgage foreclosure
• D.protects the lender against losses due to fraud and misrepresentation

Foreclosure is a process that: mortgage

• A.is exercised by a buyer of the property
• B.is consistent in all states as required by federal law
• C.allows the lender to recover all or some of the loan balance in a defaulted
• D.returns the property to a borrower when the loan is paid off

A discount point is:

• A.determined only at the loan closing
• B.none of the above
• C.one percent of the original loan balance
• D.the same as the origination fee