Escrow transfer account - Study guides, Class notes & Summaries

The developer of a time-share must eventually transfer his fee simple interest to owners' association. This must be performed after what percentage of the project is sold? 90% If a broker purchases property through a "straw man" and does not disclose that information, which of the following statements is true? This is a violation of the License Law If a judgement has been awarded to a claimant, what must the claimant do before the Board will authorize payment form the Tran...

Which of the following is an economical characteristic of land? - ANSWERSitus A man gave his best friend the right to go hunting on his farm. This would be an example of a (an): - ANSWEREasement in gross You and your spouse own your house in a form of ownership in which neither of you can sell the house individually your form of ownership is most likely: - ANSWERTenancy by entirety Joint Tennessee is a form of: - ANSWERCoownership A joint tenant may transfer his or her interest under...

Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - Predatory Lending. RESPA-Real Estate Settlement Procedures Act - The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - Home sellers from requiring home buyers to purchase title insurance from a particular company...

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...

ASREB PracTEST 100% Correct Solved Who does a salesperson represent? A. Client B. Customer C. Employing Broker D. Co-operating Broker - Correct Answer ️️ -Employing broker when must licensee report criminal conviction - Correct Answer ️️ -10 days licensed mortgage loan originators are registered through - Correct Answer ️️ -Nation Wide Mortgage Licensing System a clause in real estate transactions allows adjustments of payments up or down - Correct Answer ️️ -escalation...

Taking advantage of ill-informed consumers through excessively high fees, misrepresented loan terms, frequent refinancing that does not benefit the borrower and other prohibited acts is called __________________________. - Predatory Lending. RESPA-Real Estate Settlement Procedures Act - The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - Home sellers from requiring home buyers to purchase title insurance from a particular company...

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...

Loa Sign Notary Test #3 Exam With 100% Correct Answers 2024 Escrow Transfer Account This form must be signed by the borrower if the lender has an escrow account. This document instructs the previous lender to send any funds remaining in the escrow account to the new lender when the mortgage is paid off. Mortgagors (Occupancy ) Affidavit This document will need to be signed and notarized. This document states whether or not the borrower intends to occupy the property as a primary resi...

SAFE NMLS Exam Prep Questions with Correct Answers The Good Faith Estimate/Loan Estimate must be sent to the borrower within how many business days of receiving a loan application? - Answer-A. 1 B. 3 C. 5 D. 10 B. The Special Information Booklet must be sent to the borrower within how many business days of receiving a loan application? - Answer-A. 1 B. 3 C. 5 D. 10 B. The Mortgage Servicing Disclosure Statement must be sent to the borrower within how many business days of re...

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