Humber/Ontario Real Estate Course 4 Exam Practice

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Which statement is correct regarding life insurance companies in the mortgage market?

Life insurance companies are an example of an unregulated lending source.
Life insurance companies cannot issue residential mortgages.
Life insurance companies can provide both commercial and residential mortgages.
Life insurance companies are the primary source for first-time homebuyer loans.
Life insurance companies require additional collateral for mortgage lending.
Life insurance companies are not governed by provincial regulations.

The correct answer is: Life insurance companies can provide both commercial and residential mortgages.

Life insurance companies can provide both commercial and residential mortgages. This statement is correct because life insurance companies are significant players in the mortgage market and have the capacity to offer a wide range of mortgage products, including both commercial and residential mortgages. They are regulated entities that can provide financing for various types of real estate transactions, making them a versatile option for borrowers in need of mortgage financing.