On an fha loa - Study guides, Class notes & Summaries

MA Salesperson Exam Module 10: Real Estate Financing Exam Study Guide Solutions secondary mortgage market - ANSWER--banks have the option to sell off the loan investors -After the loan is sold (either at a discount for less that its worth or at a premium for more than it's worth) the mortgagor may either make payments directly to the loan's new owner, or they might keep paying the original lender who will forward their payments. Helping Families Save Their Homes Act - ANSWER-The mor...

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 __________________________. - ANSWER-Predatory Lending. RESPA-Real Estate Settlement Procedures Act - ANSWER-The Federal Statute that deals with the settlement of residential mortgage loans. RESPA's section 9 Prohibits - ANSWER-Home sellers from requiring home buyers to purchase title insurance fro...

1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more than one individual or company c. individuals who only list property for sale d. auctioneers who only auction commercial real estate a. attorneys admitted to practice in the New York courts ...