Question 17. 17. The share of the mortgage market held by savings and loans is a

Question

Question 17.17. The share of the mortgage market held by savings and loans is approximately: (Points : 3)        80%
       two-thirds
       50%
       25%
       10% or less Question 18.18. During the last years of an amortizing mortgage loan, the lender applies (Points : 3)        most of the monthly payment to the outstanding principal balance
       all of the monthly payment to the outstanding principal balance
       most of the monthly payment to interest on the loan
       all of the monthly payment to interest on the loan
       the monthly payment equally to interest on the loan and the outstanding
principal balance Question 17.17. The share of the mortgage market held by savings and loans is approximately: (Points : 3)        80%
       two-thirds
       50%
       25%
       10% or less

Explanation / Answer

17) Correct option is D since share of mortgage is less than 10%.

18) Correct option is A since as the last years of mortgage comes, the lender adds almost all the monthly payments to remaining balance.

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