n $40,00 Which is true regarding VA loane? The VA imposes a limit on the amount of loan a veteran can obtain A The VA is authorized to guarantee loans for eligible veterans B. The seller must pay the points in a VA Joan D. The VA must impose a 2.5% prepayment penalty on loans paid off within 10 years 21, In absence of an agreement to the contrary, the mortgage having priority will be the one: A. for the highest amount that was recorded first B C. that was the first mortgage D. that is a construction loan 22. The grantor becomes the lessee and the grantee becomes the lessor under which of the following financing arrangements? A. partial sale wraparound mortgage C. sale and leaseback D. assumption of mortgage 23. Fannie Mae FHA loans. A. makes B. buys C. services D. insures 24. An FHA-insured mortgage loan would MOST LIKELY be obtained from which of the folllowing? A. the Federal Housing Administration B. the Department of Housing and Urban Development C. any qualified lending institution any qualified insuring institution D 25. The maximum amount for payments on an adjustable-rate mortgage is set by the: A. ceiling B. term C. cap D. factor 26. The principal distinction between the primary mortgage market and the secondary mortgage market is in the: A. insurance versus the guaranteeing of mortgage loans B. origination versus the purchase of mortgage loans C. use of mortgages versus the use of deeds of trust D. use of discount points versus the use of origination fees