A Loan in Which the Seller or Another Third Party

question 17

Multiple Choice

A loan in which the seller or another third party agrees to pay an amount to the lender in order to reduce the borrower's payments,or to reduce the interest rate for a portion of the loan's term,is called a(n) :

• A) adjustable rate mortgage
• B) graduated payment mortgage
• C) buy down mortgage
• D) shared appreciation mortgage

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Definitions:

Cloud Computing

The delivery to users of on-demand services from third-party servers over a network.

Subscription-Based

A business model where customers pay a recurring price at regular intervals to access a product or service.

Electronic Communications Privacy Act

The Electronic Communications Privacy Act is legislation in the United States that protects wire, oral, and electronic communications while those communications are being made, are in transit, and when they are stored on computers.

Business Communications

The sharing of information between people within an organization or between a business and its customers.