Hud exam fair housing 2 - Study guides, Class notes & Summaries

NMLS EXAM 1: Questions and answers, VERIFIED/ 1) Mortgage loan fraud is reported at what level? A. State B. Federal C. County D. City - -B. Mortgage Fraud is reported to the FBI and to HUD ( The United States Department of Housing and Urban Development is a Cabinet department in the executive branch of the U.S. federal government) 2) Title V of the Housing and Economic Recovery Act (HERA) of 2008 is best known as: A. The SAFE Act B. RESPA C. TILA D. CRA - -A. S.A.F.E --The comple...

Alabama Real Estate Exam All Answers Correct What type of listing is typically a verbal agreement? ️An Open Listing Implied Agency ️Relationship was never discussed but actions of one or more of the parties "implied" a relationship exists. What two agreements are considered personal services agreements? ️Listing agreement and Buyer agreement When both the buyer and the seller are represented by the same brokerage firm is called: ️Dual Agency Who typically manages the M...

PSI Maryland Practice Exam All Answers Correct A broker and the buyers he represents are anxiously awaiting the closing on their new home. The closing is scheduled in 4 days. The buyers inform the broker that they just received revised Loan Estimate and Closing Disclosure forms from the lender, indicating the Annual Percentage Rate on their loan has increased by 0.3%. Based on the TILA-RESPA Integrated Disclosure rule, what action should the broker take in this situation? A. Assist the...

Leasing Agent Final Exam Questions With 100% Correct Answers 2024/2025 A tenant in Apartment A tested their own apartment for radon and the results were 10.9 pCi/L. What is now required of the landlord? - answerMust disclose the radon hazard to subsequent tenants of Apartment A Someone advertises their summer home for rent. "Renting 2 bedroom home. No more than 2 children. $2,000 for the season. Call (800) 242-3939" Is this advertisement legal? - answerNo because of the limit on the num...

HUD Housing Counseling Exam 2023/2024 Back-end ratio The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly inco...

Principles 1 Aceable Practice Tests Exam Questios with 100% Correct Answers What is the money in the Recovery Trust Account used for? A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date - answerA) To pay an aggrieved party who has won a judgment against a l...

MD Real Estate PSI National Exam 2 With Complete Solutions A broker is discussing a new listing with a prospective Mexican-American buyer. The buyer wants to inspect the property immediately, but the owner of the property has instructed the broker, in writing, not to show the house during the owner's three-week absence. The buyer insists on viewing the property. The broker should show the property to avoid a violation of the Federal Fair Housing Act. request the Real Estate Commission ...

HUD Housing Counseling Exam Correctly Solved 100% Correct!! Civil Rights Act of 1866 Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 added gender (sex) to the protected classes Fair Housing Amendments Act of 1988 Added Disability and familial status to protected classes. R...

NMLS SAFE EXAM Questions And Answers (Verified And Updated) Where credit institutions originate loans - answerPrimary Mortgage Market When an ARM has rate caps of 5/2/6, the 6 refers to what? A. The maximum rate increase at the initial adjustment B. The start rate for the loan C. The maximum the rate can increase over the life of the loan D. The rate maximum the rate can decrease over the life of the loan - answerC. The maximum the rate can increase over the life of the loan When utiliz...

Principles of Real Estate Chap 2 Exam With 100% Correct Answers 2024 Federal Law - answerGenerally speaking, the law that prevails over State Law. Strictest Standard Rule - answerThis states that the stricter law (Federal vs. State) will prevail and take precedent. Health, Safety, and Welfare on the Public - answerThe 'Strictest Standard Rule' applies when dealing with? Civil Rights Act of 1866 - answerThe Civil Rights Act prohibited discrimination on the basis of race only. Civil Rig...