Mortgage brokers - Study guides, Class notes & Summaries

According to the Dower Act, what is NOT one of the criteria used to determine if Dower applies? - Answer-The property is mortgaged in the name of one party According to the Dower Act, which of the following would be considered disposition of the property?I. Selling the propertyII. Leasing the propertyIII. Placing a mortgage on the propertyIV. Getting a line of credit against the property - Answer-All of the above Explanation Disposition of the property includes:Selling the propertyLeasing ...

45 Hour Post License Real Estate Florida Test Questions With Answers Latest Updated 2024/2025 | 100% Verified. When consumers, lured by lower prices, venture back into the market, business activity increases and confidence begins to return. Slowly, production facilities gear up to meet the new consumer demand, capital begins to flow back into business enterprises, and additional employees are hired. The three types of operating expenses of an income property are A) fixed, debt service, and...

Fundamentals Of Mortgage Brokerage Module 1 Real Exam Question And Answers Latest Update

An economic recovery is defined as A) two successive quarterly declines in the gross domestic product. B) two successive quarterly increases in the gross domestic product. C) a period of higher housing prices. D) two successive periods of stock market gains. correct answers B) two successive quarterly increases in the gross domestic product. Explanation When consumers, lured by lower prices, venture back into the market, business activity increases and confidence begins to return. Sl...

RECA Mortgage broker; Questions and Answers 100% Solved How are representation relationships typically established? Correct answer Estoppel Representation relationships can be established by: agreement, implication, ratification, estoppel, or operation of law What is the highest form of private land ownership in Alberta? Correct answer Fee simple Fee simple ownership is the highest form of private land ownership as it gives the owner the most ownership rights, and the owner controls...

Level 23: Mortgage Brokers - Chapter 1: Mortgage Origination fully solved rated A+

A borrower signs the note and mortgage for a refinance on his principal residence on Thursday, Dec. 31. What is the earliest day the funds for this loan could be disbursed (assuming no bona fide financial hardship)? - Wednesday, Jan. 6 Who manages the National Do Not Call Registry? - Federal Trade Commission What federal legislation regulates credit reporting agencies and lenders concerning credit reporting? - FCRA What is not prohibited to be included in the loan terms for HOEPA covered i...

Fundamentals Of Mortgage Brokerage Practice Questions Real exam question and answers latest update

Fundamentals of Mortgage Brokerage Real exam question and answers latest update

2023/2024 OACIQ Exam Prep - Questions with Verified Answers When do you need a new certificate of location? If previous one is older than 10 years, requires a new one. In the description sheet in MLS, inform collaborating brokers that a new one will be available soon. Seller asks to reduce commission if you find a buyer? You can include a clause in the BCS in 11.1 stating that in the event that you find a buyer, you will reduce your commission to 3%, however in the case of multiple offers, thi...