As Used in Mortgage Lending, the Term "Collateral" Means

question 3

Multiple Choice

As used in mortgage lending, the term "collateral" means

• A) Something of value pledged as security for a loan
• B) The purpose for which a mortgage loan is made
• C) A valuable asset
• D) Associated with but of secondary importance.

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Definitions:

Traditional Unstructured

Describes approaches, processes, or methods that lack a formal framework, often relying on informal practices.

Performance Appraisal

An evaluation method in which an employee's job performance is reviewed and discussed to identify strengths and areas for improvement.

Personnel Decisions

Decisions related to the management of staff within an organization, including hiring, firing, promotions, and assignment of responsibilities.

Structured Interview

An interviewing method where all candidates are asked the same predetermined set of questions to ensure consistency and fairness in the evaluation process.