Escrow transfer account - Study guides, Class notes & Summaries

Prepxl practice test 2: Questions and answers, rated A+ Under RESPA, the servicer may require a borrower to pay into an escrow account to cover disbursements that are unanticipated or disbursements made before the borrower's monthly payments are available in the account, a cushion or reserve that must be no greater than _____ of the estimated total annual disbursements from the escrow account. - One half - One third - One sixth - One twelfth - -One sixth. Under RESPA, a lender ma...

Contracts and Closing – 302 Questions and Answers 100% Pass What is a contingency in a real estate contract? A condition that must be met for the contract to become binding. How should a broker handle an incomplete or incorrect closing document? Address the issue immediately with the relevant parties to correct and complete the document before closing. What is the purpose of an inspection contingency in a purchase agreement? To allow the buyer to request repairs or negotiate...

Escrow Exam Questions and Answers 100% Pass Principle meridian - Correct Answer ️️ -The north-south lines separating townships 5 ways to acquire property - Correct Answer ️️ -Occupancy Accession Transfer Will Succession Escrow agent - Correct Answer ️️ -any person engaged in the business of receiving escrows for deposit or delivery Metes and bounds - Correct Answer ️️ -A method of land description which involves identifying distances and directions and makes use of both...

RESPA disclosures? due dates? - Answer-3 days after application: Home loan tool kit Loan estimate List of HUD counselors Mortgage Servicing Disclosure Statement Know before you owe booklet Special Info Booklet 3 days before consummation: Initial Closing Disclosure AfBA disclosure At consummation: Final Closing Disclosure Initial Escrow Statement (45 days after closing) After closing: Annual Escrow Statement Servicing Transfer Statement (sent 15 days before transfer) RES...

Gold Coast Real Estate Exam Questions and Answers 100% Pass How long must a broker maintain records/files - Answer- 5 years (2 years after court proceeding) Registered with DBPR, at least one room, records kept there, may be in broker's home if zoning permits - Answer- Broker office requirements Deposit accompanying offer - Answer- Earnest money Commercial bank, title company having trust powers, credit union, or savings association located in the state of FL - Answer- Broker's escrow ...

CISA Practice Exam Questions and Answers with Verified Solutions A centralized antivirus system determines whether each personal computer has the latest signature files and installs the latest signature files before allowing a PC to connect to the network. This is an example of a: corrective control A comprehensive and effective email policy should address the issues of email structure, policy enforcement, monitoring and: rentention A consulting firm has created a File Transfer Prot...

Escrow Exam Questions And Answers (Verified And Updated) Principle meridian - answerThe north-south lines separating townships 5 ways to acquire property - answerOccupancy Accession Transfer Will Succession Escrow agent - answerany person engaged in the business of receiving escrows for deposit or delivery Metes and bounds - answerA method of land description which involves identifying distances and directions and makes use of both the physical boundaries and measurements of the land...

Who does a salesperson represent? A. Client B. Customer C. Employing Broker D. Co-operating Broker - Answer-Employing broker when must licensee report criminal conviction - Answer-10 days licensed mortgage loan originators are registered through - Answer-Nation Wide Mortgage Licensing System a clause in real estate transactions allows adjustments of payments up or down - Answer-escalation clause escrow company may disperse commissions directly to salesperson if - Answer-escrow agent ge...

Deed Restrictions - Correct answer-Legally enforceable terms that govern the use of real estate Redlining - Correct answer-The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, disability, or familial status of the area's residents. Civil Rights Act of 1968 - Correct answer-Following the assassination of Dr. Martin Luther King Jr., Congress passed what monumental piece of ...

NMLS Test Outline, Exam Questions and answers, VERIFIED/ RESPA disclosures? due dates? - -3 days after application: Home loan tool kit Loan estimate List of HUD counselors Mortgage Servicing Disclosure Statement Know before you owe booklet Special Info Booklet 3 days before consummation: Initial Closing Disclosure AfBA disclosure At consummation: Final Closing Disclosure Initial Escrow Statement (45 days after closing) After closing: Annual Escrow Statement Servicing Transfer...