Assume a residential mortgage lender has agreed to provide a $400,000 fixed rate, level payment, fully amortizing mortgage loan to a home buyer. The (annual) contract interest rate is 6.00%. The monthly payment loan will be amortized over 30 years. Thirty days have passed since the lender committed to finance the mortgage. On the day of closing, contact interest rates on this type of mortgage have increased from 6.00% to 6.50%. Assume secondary mortgage market investors assume this type of mortgage will remain outstanding for 6 years before being prepaid by the borrower. To sell the originated loan in the secondary mortgage market on the day of closing, the originating lender will have to discount the price by:

Four years ago, you obtained a $4,000,000 interest-only (I-O) mortgage to help finance the acquisition of a small rental property. The original loan term is 10 years. The remaining loan term is 6 years (4 years have passed). The interest rate on the existing mortgage is 6.00% (annual). A new interest-only mortgage for $4,000,000 with a 4.75% (annual) rate can be obtained. The cost of obtaining the new mortgage will be 3% of current loan balance. A prepayment penalty equal to 2% of the remaining mortgage balance will also need to be paid to the original lender to refinance. The expected time before paying off any outstanding loan is 6 years from today. What is the net present value (NPV) of refinancing today?

Three years ago, you financed the acquisition of a small industrial property with a $10 million, 10-year loan. The annual interest rate is 5.0% (monthly payments). Assume it was an interest-only (I-O) loan. Today, the interest rate on similar I-O loans is 4.0%. There is a yield maintenance penalty associated with early repayment. What will be the yield maintenance penalty if you prepay today (rounded to the nearest dollar)?

Which description best characterizes a transaction broker?

Which of these remedies is generally NOT available to a seller when a buyer breaches a real estate contract?

According to the Statute of Frauds, contracts for the sale of real estate must:

Which of the following is a common contingency clause in a contract for the sale of residential real estate?

Which scenario typically results in termination of a listing contract?

A firm is considering the purchase of an asset whose risk exceeds the current risk of the firm, based on any method for assessing risk. In evaluating this asset, the decision maker should:

You are planning treatment for a 65-year old patient with a new diagnosis of hypertension and PMH of Diabetes. Based on JNC 8 guidelines, what is the most appropriate management for this patient?