Va law regulations - Study guides, Class notes & Summaries

Exam For Texas Real Estate Principles 1 Questions and Answers 2024 There are seven sources of law in the United States, What would be an example of them? Local zoning laws, FHA/VA regulations, court decisions Laws passed by Congress and various other various state legislatures may Authorize agencies to pass rules and regulations to enforce the provisions of law The legal concept of precedent Grew out of common law Constitutional provisions Establish the rights of citizens and delineate...

NMLS TEST-Affinity Study Practice Questions 2024.What law deals with credit, APR & Advertising of consumer loans? - correct answer TILA Which regulation prohibits kickbacks? - correct answer RESPA Which regulations require the lender to cancel PMI when the loan reaches 78% LTV? - correct answer HPA-Homeowners Protection Act Which Regulation prohibits fee splitting? - correct answer RESPA Regulation X is the letter used to describe which law? - correct answer RESPA RESPA is the acr...

CMB Exam – Study Questions With 100% Verified Answers According to federal law, which of the following transactions are subject to the three-day right of rescission? - answerPrimary residence for rate/term and/or cash-out refinance. What federal law governs right of rescission? - answerTruth in Lending Act What are 3 borrower qualifications unique to the VA loan product? - answer1. Certificate of Eligibility 2. Active or previous duty service w/ entitlement available 3. VA loans do not...

A nonresident who obtains a license as an active salesperson in VA is required to do which of the following? 1. Move to VA within 6 months of licensure. 2. Post a bond. 3. Maintain an escrow account in VA. 4. Activate with a VA licensed broker. - 4. Activate with a VA licensed broker. The purpose of the VA real estate license law and Board related rules and regulations is to... - Protect the public interest Two brokers are involved in a dispute over a commission split. Which of the follo...

LETC Week 1 – Orientation Latest Update Graded A+ Be familiar with the Office of Security and Law Enforcement Mission. Deliver professional law enforcement and security services, while maintaining law and order, and the protection of persons and property on VA campuses and building under the jurisdiction of the Department of Veterans Affairs. Be familiar with the VA Law Enforcement Training Center's Mission. To provide high quality law enforcement training for those men and women...

NMLS TEST-Affinity Questions and Answers, Graded A+ What law deals with credit, APR & Advertising of consumer loans? TILA Which regulation prohibits kickbacks? RESPA Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:01 / 0:15 Full screen Which regulations require the lender to cancel PMI when the loan reaches 78% LTV? HPA-Homeowners Protection Act Which Regulation prohibits fee splitting? RESPA Regulation X i...

Government loans include correct answersFHA, VA, and USDA loans. _____________________ means with actual awareness, or flagrant disregard of prudent and fair business practices. correct answersIntentionally What year was the Texas Real Estate License Act(TRELA) created? correct answers1939 What year was the Texas Real Estate Commission(TREC) created? correct answers1949 How many members make up TREC? correct answers9 members TREC members serve what term limits? correct answersSix ...

NATIONAL PSI EXAM PRACTICE TEST ANSWERED 100% CORRECTLY Real Estate law governing advertising applies to all of these EXCEPT: A. In house notes for showing B. Multiple listing service (MLS) C. communications with consumers D. Social Media - answerA. In-house notes for showing are not seen by consumers an so do not have to follow state or federal laws. A couple accompanies a property inspector during an inspection of a house on which they have a contract. The inspector points to a six-in...

A nonresident who obtains a license as an active salesperson in VA is required to do which of the following? - 4. Activate with a VA licensed broker. The purpose of the VA real estate license law and Board related rules and regulations is to... - Protect the public interest Two brokers are involved in a dispute over a commission split. Which of the following could become involved in the settlement dispute? - A court having jurisdiction over the brokers. If the Board receives a written comp...

mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer- The process of creating a new mortgage loan U...