SOFE
AFE · Question #176
A ____________ is a special variation on a second mortgage. In this form, the new lender assumes the original or first mortgage and has the responsibility of collecting all payments and remitting a…
The correct answer is C. Wrap-around loan. See the full explanation below for the reasoning.
Question
A ____________ is a special variation on a second mortgage. In this form, the new lender assumes the original or first mortgage and has the responsibility of collecting all payments and remitting a portion of these payments to the first lender.
Options
- AConventional Residential Loan
- BFHA loan
- CWrap-around loan
- DVA loan
How the community answered
(37 responses)- A5% (2)
- B3% (1)
- C84% (31)
- D8% (3)
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