Finance
A Texas lender who originates, holds, and services loans in their own portfolio (not selling them to Fannie/Freddie) is known as a:
AMortgage broker
BPortfolio lender✓ Correct
CCorrespondent lender
DWholesale lender
Explanation
A portfolio lender retains the loans they originate in their own investment portfolio rather than selling them to the secondary market. They may have more flexibility in underwriting criteria since they set their own standards for loans they hold.
Related Texas Finance Questions
- Under Texas Finance Code, the maximum legal interest rate for most loans (unless pre-empted by federal law or contracted otherwise) is:
- A Texas home seller who finances part of the purchase with a second lien 'seller carry back' should be aware that:
- In Texas, a 'purchase money mortgage' refers to:
- A Texas lender 'charges off' a non-performing loan. This means the lender has:
- A Texas USDA Guaranteed loan has a maximum income limit. This limit is based on:
- A 'home equity line of credit' (HELOC) in Texas differs from a traditional home equity loan in that:
- In Texas, the 'prepayment penalty' provision of a conventional mortgage must be disclosed:
- In Texas, a 'home equity line of credit' (HELOC) established under Article XVI Section 50(t) must:
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →