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Regulation B states that a creditor must provide an applicant a copy of all appraisals and other written valuations developed in connection with an application for credit that is to be secured by a first lien on a dwelling. For closed-end credit, the appraisal copy must be provided to the applicant ...

MLO Josh must provide a(n) _____ when quoting an interest rate and terms to a consumer who has inquired about mortgage loan interest rates correct answers Corresponding APR When an MLO receives an inquiry related to mortgage loan interest rates, a corresponding annual percentage rate (APR) must b...

What law requires the term equal housing lender to be used in any advertisement that is broadcast over the airwaves? A. Equal Credit Opportunity Act B. Truth In Lending Act C. Fair Housing Act D. Fair Credit Reporting Act correct answers C. Fair Housing Act -- The Fair Housing Act requires tha...

Seller Sally, listed with Broker Larry, sells her home to Buyer Bill for $200,000. Bill is represented by his own buyer's agent. An earnest money check for $2,000 is attached to the contract. After both parties have fully executed the contract, Larry deposits the check into his escrow account, per ...

Which of the following is not a type of soil texture? correct answers Gravel The most common retaining wall failure is caused by: correct answers Inadequate drainage The main problem associated with the edge of a patio that does not properly meet the surrounding vegetation is that it: correct ...

Who oversees RESPA? correct answers CFPB Who enforces RESPA? correct answers CFPB Who oversees ECOA? correct answers CFPB Who enforces ECOA? correct answers CFPB and FTC Who oversees TILA? correct answers CFPB Who enforces TILA? correct answers CFPB (FTC for advertisement penalties) ...

Running a "blind ad" is considered an unfair practice for a licensee in Georgia for what reasons? correct answers The ad does not include the name of the listing broker Regarding a salesperson's decision to terminate an affiliation with the current employing broker, which of the following is t...

The money to fund FHA loans is provided by correct answers lending institutions Broker Q lists seller Y's property under a 6 month exclusive agency listing agreement at 7% commission that runs from January 1st through June 30th. By early June there has been virtually no activity. The seller, fru...

Okay, because the buyer and seller have agreed to it correct answers A purchase and sales agreement stipulates that the earnest money deposit is placed in a separate interest-bearing Trust account, with any interest earned to be split between the buyer and seller. This is: Tell the cooperating br...

employees or independent contractors. These are the two possible IRS categories. If the salesperson is hired under a contract, paid based on sales, and given an IRS 1099 at year end, the salesperson is an independent contractor. If the salesperson is paid a salary, required to put in a set number...

Minerals are not considered to be personal property until the correct answers minerals are extracted from the earth Which can the operation of law NOT create? correct answers joint tenancy Which term best describes value being attributed to a property because of its desirable location? correct...

If the buyer is assuming an existing loan on the property, which of the following is prorated at closing? correct answers interest only What law requires the lender to show the APR? correct answers reg. z In what type of installment agreement does the buyer make payments for the right to posse...

All licensees shall promptly place all cash, checks or other items of value received as payment in connection with a real estate transaction in the care of: correct answers The designated broker Supervision of unlicensed telemarketing employees soliciting initial interest in timeshare properties ...