Mortgage broker Study guides, Class notes & Summaries

RECA Mortgage Broker Exam With 100% Correct Answers 2024

Question: A sublessee is a(n) correct answers . Tenant Question: A major disadvantage of owning investment property might be correct answers Lack of Liquidity Question: The most favorable thing about a VA loan is that correct answers VA loans guarranty gives the veteran favorable financing terms because the lender is protected from loss Question: Once the funds of a construction loan are disbursed to the contractor, and if the sub-contractor is not paid, correct answers . The sub-contra...

chapter 2 of mortgage broker course correctly answered

What law prohibits a lender from requiring mortgage insurance through any agent or company? Anti - coercion law Who supervises all activities of the OFR? The director What are examples of prohibited practices under Chapter 494? Mostly fraud related activities Who can a fee or commission related to a mortgage loan transaction be paid to under chapter 393? Mortgage broker Mortgage lender A person exempt from licensure under the law. What disclosures need to be pro...

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 ...

Texas Promulgated Contracts-CHAMPIONS STUDY 2022-2023. The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilatera...

FUNDAMENTALS OF MORTGAGE BROKERAGE

SAFE Mortgage Loan Originator Test - National Component with Uniform State Content Questions and Answers Already Passed What does UST stand for? Uniform State Test Who does the CFPB protect? The Consumer Financial Protection Bureau protects consumers in the financial marketplace. What does the CFPB do? CFPB is now in charge of implementing and enforcing most of the provisions of federal lending laws that relate to protecting consumers while they are shopping for, securing, and p...

What law prohibits a lender from requiring mortgage insurance through any agent or company? Anti - coercion law Who supervises all activities of the OFR? The director What are examples of prohibited practices under Chapter 494? Mostly fraud related activities Who can a fee or commission related to a mortgage loan transaction be paid to under chapter 393? Mortgage broker Mortgage lender A person exempt from licensure under the law. What disclosures need to be pro...

Nevada Real Estate Exam Questions and Answers (Graded A)Nevada Real Estate Exam Questions and Answers (Graded A)Nevada Real Estate Exam Questions and Answers (Graded A)Nevada Real Estate Exam Questions and Answers (Graded A)What is the minimum balance of the real estate education, research, and recovery fund? A) $300,000. B) $100,000. C) $250,000. D) $500,000. - ANSWER-a 2. How long after the signing of a contract for the purchase of a lot in NV or anywhere else may the purchaser cancel t...