American_Bankers_Association

CTFA · Question #116

First mortgage is:

The correct answer is B. A mortgage score which is in first lien position, C. Taking priority over all other liens. See the full explanation below for the reasoning.

Fiduciary and Trust Activities

Question

First mortgage is:

Options

AFlexible payment mortgage
BA mortgage score which is in first lien position,
CTaking priority over all other liens
DGraduated payment mortgage

How the community answered

(21 responses)

A
5% (1)
B
81% (17)
D
14% (3)

Topics

#first mortgage#lien priority#real estate#secured lending

Community Discussion

No community discussion yet for this question.

Sign up to join the discussion

Full CTFA Practice