Residential Mortgage是FRM一级考试中的内容，备考中的考生一定要了解相关的内容，这样对于备考是有很大的帮助的。下文是小编列举的详细内容，希望对你有所帮助！
Lien Status：
A first lien would give the lender the first right to receive proceeds on liquidation
Credit Classification：》》》戳：免费领取FRM各科视频讲义+历年真题+21年原版书（PDF版）
Prime (A-grade) loans；
Subprime (B-grade) loans；
Alternative-A loans: are the loans in between prime and subprime.
Interest Rate Type：
Fixed-rate mortgages；
Adjustable-rate mortgages (ARMS): default risk is high；
Prepayments：
Prepayments reduce the mortgage balance and amortization period. They can occur because of the following reasons:
Home is sold
Refinancing due to lower rates
Partial prepayments
Credit Guarantees：
With agency MBSs, the investor bears no credit risk because the GSEs have been paid a fee to
guarantee the underlying mortgages.【资料下载】[融跃财经]FRM一级ya题-pdf版
With a non-agency MBS, there is some credit risk but that is mitigated through the process of subordination.
Fixed-Rated,Level-Payment Mortgages：
The amount of the principal payment increases as time passes.
The amount of interest decreases as time passes. Interest is calculated on a declining principal balance.
The ability of the borrower to repay results in prepayment risk.
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