Match each acronym with the proper description: 1.1. ARM 1.2 HOLC 1.3 FHA Secure
ID: 1175495 • Letter: M
Question
Match each acronym with the proper description:
1.1. ARM
1.2 HOLC
1.3 FHA Secure
1.4 H4H
Answers:
a) Depression era agency charged with reducing the number of foreclosures
b)Offered holders of subprime mortgages to refinance
c)A voluntary program designed to help delinquent borrowers refinance mortgages into new FHA-guaranteed loans
d) A type of loan that has an interest rate that changes based on certain criteria
During 2008 there was a great deal of uncertainty regarding how to reduce the number of foreclosures. Some government officials had disputes on how to handle the crisis. Two such officials were Secretary of the Treasure Paulson and FDIC's Shelia Bair.
1.5 The essence of their dispute was that Bair
1.6 and Paulson
Answers
A) wanted a more aggresive approach toward mortgage modification
B) was concerned about moral hazard
1.1. ARM
1.2 HOLC
1.3 FHA Secure
1.4 H4H
Answers:
a) Depression era agency charged with reducing the number of foreclosures
b)Offered holders of subprime mortgages to refinance
c)A voluntary program designed to help delinquent borrowers refinance mortgages into new FHA-guaranteed loans
d) A type of loan that has an interest rate that changes based on certain criteria
During 2008 there was a great deal of uncertainty regarding how to reduce the number of foreclosures. Some government officials had disputes on how to handle the crisis. Two such officials were Secretary of the Treasure Paulson and FDIC's Shelia Bair.
1.5 The essence of their dispute was that Bair
1.6 and Paulson
Answers
A) wanted a more aggresive approach toward mortgage modification
B) was concerned about moral hazard
Explanation / Answer
1.1-----b
1.2-----a
1.3-----d
1.4-----c
1.5------A
1.6------B
As you asked for only matching each acronym with proper description i am giving you with small explination regarding each one.
1.1.ARM -----subprime mortgage isa type of loan granted to individuals with poor credit score. Main type of subprime mortgages include ARM (adjustable rate mortgage)
1.2. HOLC------ HOLC stands for home owners loan corporation established in 1933 to help stabilize real estate that had depreciated during the depression and to refinance the urban mortgage debt
1.3.FHA secure----- FHA stands for federal housing administration..FHA doesnt place limitation on certain fees,how closing costs and down payments are paid and by whom, FHA does regulate intrest rates in some cases. Any FHA secure for example has builtin limits on when the rates can be adjusted and how often.
1.4.H4H....H4H stands for Hope for homeowners..it is a program that is offered by FHA in order to provide help to disstressed home owners. With this program if you are near foreclosure and you are upside down on your loan you could potentially refinance your loan..