American_Bankers_Association
CTFA · Question #125
A mortgage which is in first lien position, taking priority over all other liens.
The correct answer is A. First mortgage. See the full explanation below for the reasoning.
Fiduciary and Trust Activities
Question
A mortgage which is in first lien position, taking priority over all other liens.
Options
- AFirst mortgage
- BCallable debt
- CFixed rate mortgage
- DGraduated payment mortgage
How the community answered
(25 responses)- A76% (19)
- B12% (3)
- C8% (2)
- D4% (1)
Topics
#first mortgage#lien priority#mortgage types#real estate
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