All of the following are true of secondary mortgage markets except: A. were crea

Question

All of the following are true of secondary mortgage markets except:

A. were created by Congress after the fallout from the 1930's Great Depression
B. are marketed primarily to applicants with substandard credit
C. primarily offer prime (market-based interest rates) mortgages
D. include the Federal National Mortgage Association (FMNA) and the Federal Home Loan Mortgage Corporation (FHLMC)
E. were created to introduce liquidity (money) to an unbalanced mortgage market


An example of a policy designed to prevent blockbusting is:

A.the Shelley v. Kramer Supreme Court decision
B. racially-expansive deed covenants
C. reducing a neighborhood tipping point
D. incentives for non-minorities to remain in the neighborhood
E. prohibition of "for sale" signs on residential properties


Blockbusting is best described as:

A. offering generous incentives to induce residents to relocate consistent with a city's master plan
B. a corollary of "the tipping point"
C. using white residents' fear of blacks to induce them into selling their house quickly at a lower price
D. using middle class blacks' fear of lower class blacks to induce them into selling their house quickly at a lower price
E. conversion of residential blocks into commercial uses

Explanation / Answer

1. c

2. a

3. c

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