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Mortgage Brokerage fully solved(rated A+)
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Mortgage Brokerage fully solved(rated A+)
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Mortgage BrokerageA person registered by the New York State Banking Department who engages in the business of
soliciting, processing, placing or negotiating mortgage loans for others is called a
____________________ _________________. - correct answer ✔✔Mortgage broker
Under what circumstances must a mortgage broker use a dual agency disclosure form? - correct answer
✔✔If mortgage broker is also RE broker in same transaction.
A person, corporation or firm licensed by the New York Banking Department to make residential
mortgage loans is called a ___________________ _________________. - correct answer ✔✔Mortgage
banker
This person's role is to act as an intermediary between the borrower and the lender.
A. Mortgage banker
B. Mortgage broker - correct answer ✔✔B. Mortgage broker
Who supervises and regulates all mortgage brokers working within the State? - correct answer ✔✔State
of NY Banking Dept.
Gina is a licensed real estate broker. She is also registered as a mortgage broker in NY. She is representing
Mary and Bob Jones in the sale of their home and is negotiating a mortgage for the buyers. In what
capacity is Gina acting?
A. Single agent
B. Dual agent
C. Buyer broker
D. Seller agent only - correct answer ✔✔B. Dual agent
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