Define mortgage brokers - Study guides, Class notes & Summaries

NMLS Practice Exam Questions and A RESP does not apply to: a) Loans secured by a lien on a principal dwelling b) Federally related mortgage loans c)Subprime mortgage loans d)Loans for business, commercial and agricultural purposes - Answer-d) Loans for business, commercial and agricultural purposes Under the Fair Credit Reporting Act, which of the following entities has the burden of protecting a consumer's privacy when his/her credit information is being reported? a) Credit repor...

Exam Question Master 1 T/F - Real estate professionals provide knowledge of market conditions - ANS True The product that real estate licensees market is - ANS Expert Information Real estate professionals provide expert information in three areas: - ANS Property transfer, market conditions, and how to market real estate and businesses. D.B.P.R (Department of Business and Professional Regulation) main office location - ANS - Located in Tallahassee, FL. DRE (Divisio...

What kind of professionals manage the legal aspects of a development project? Real Estate attorneys, title companies, surveyors, property insurance companies and government regulatory officials What types of professionals are involved in the transfer of rights and interest in Real Estate? Titles companies, Real Estate Brokers/ Sales Persons, Mortgage Brokers, Mortgage Bankers, Appraisers, Insurers Property is classified into what three types? Residential, Commercial, and Investm...

Mortgage Agent Final Exam Sample Questions With Correct Answers (100% Correct 2023/2024). Home Buyer's Program (HBP) - ANSWER The Canada Revenue Agency (CRA) has a program entitled the Home Buyer's Program (HBP) that allows a first time buyer to use up to $25,000 of their RRSPs as a down payment without paying tax on the withdrawal. The amount removed must be repaid within 15 years. CRA defines a first time buyer as an individual or the individual's spouse, or common-law partner who has ...

Power House Training 88 Questions with Verified Answers How do you build name recognition? - CORRECT ANSWER comes from developing a marketing plan that is outside the box, something that separates you from others. 12 month marketing plan - CORRECT ANSWER -Planning in advance not only allows you to properly budget, it also ensures that you do not over commit to any one buyer or seller. -a key habit of successful, professional agents. millennial generation forecast - CORRECT ANSWER -stud...

Fundamentals of Insurance BC Questions and Answers 100% Solved What is the major function of insurance? to allow the spread of risk What are the five important functions of insurance? 1) insurance is the shifting of financial responsibility for a loss 2) payment will be made only in the event of an insured risk 3) the amount of payment is restricted to the amount required to indemnify the insured 4) insurance covers losses the object may be exposed to 5) the indemnity can be in the form of mone...

Real Estate Brokerage SAE - Champion's School of Real Estate 291 Questions with Verified Answers Search Engine Optimization (SEO) - CORRECT ANSWER The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine. Fcebook Live - CORRECT ANSWER Video streaming through facebook. CoStar Database - CORRECT ANSWER Functions much like a residential MLS, connecting commercial agents with brokerages,...

What does RESPA stand for? The Real Estate Settlement Procedures Act (Regulation X) What does ECOA stand for? Equal Credit Opportunity Act (Regulation B) What does TILA stand for? Truth In Lending Act (Regulation Z) What does TRID stand for? TILA-RESPA Integrated Disclosure Rule (a.k.a. "Know Before You Owe") What does CFPB stand for? Consumer Financial Protection Bureau What does NMLS stand for? Nationwide Mortgage Licensing System and Registry ...

What does RESPA stand for? The Real Estate Settlement Procedures Act (Regulation X) What does ECOA stand for? Equal Credit Opportunity Act (Regulation B) What does TILA stand for? Truth In Lending Act (Regulation Z) What does TRID stand for? TILA-RESPA Integrated Disclosure Rule (a.k.a. "Know Before You Owe") What does CFPB stand for? Consumer Financial Protection Bureau What does NMLS stand for? Nationwide Mortgage Licensing System and Registry ...

Civil Rights Act of 1866 - Answer Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - Answer banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 - Answer added gender (sex) to the protected classes Fair Housing Amendments Act of 1988 - Answer Added Disability and familial status to protected classes. Real Estate Settlement a...