Mortgage professionals - Study guides, Class notes & Summaries

What law prohibits a lender from requiring mortgage insurance through any agent or company? Anti - coercion law Who supervises all activities of the OFR? The director What are examples of prohibited practices under Chapter 494? Mostly fraud related activities Who can a fee or commission related to a mortgage loan transaction be paid to under chapter 393? Mortgage broker Mortgage lender A person exempt from licensure under the law. What disclosures need to be pro...

Champion School of Real Estate Latest Update 100% Pass Brokerage The aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction Property Managers are generally responsible for the following Day to Day operations, Maintenance and Tenant Relations RMLO Mortgage Brokers are known as NAR The largest trade organization representing real estate professionals is Value A fair return or equivalent in goods, services, or money f...

Champions Principles of Real Estate 1 Questions with Complete Solutions Brokerage is the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction. a. True b. False a. True Property managers are generally responsible for the _______ of a property that they manage. a. day-to-day operations b. maintenance c. tenant relations d. all of the above d. all of the above Mortgage brokers are now known as: a. TFBs b....

Chapter 1 - Gold Coast Real Estate Homework Questions and Answers 100% Pass Which of the following statements is true regarding a mortgage loan originator (MLO)? (a) A mortgage loan originator is the same as a mortgage broker. (b) A mortgage loan originator must have a separate license. (c) A mortgage loan originator makes loans. (d) A mortgage loan originator must have a real estate license. - Correct Answer ️️ -(b) A mortgage loan originator must have a separate license. A real est...

1. Which of the following statements is true regarding a mortgage loan originator (MLO)? A mortgage loan originator is the same as a mortgage broker. *A mortgage loan originator must have a separate license. A mortgage loan originator makes loans. A mortgage loan originator must have a real estate license. 2. A real estate appraiser's fee for professional service is based on which of the following? A percentage of the property's gross income. A percentage of the fair market va...

Realtors - Answer- Members of the National Association of REALTORS® (NAR) are known as Agents or sales people - Answer- Salespersons not associated with NAR are known as Realists - Answer- Members of the National Association of Real Estate Brokers The Texas Association of REALTORS - Answer- Professional organizations specific to the state of Texas would include real estate attorneys, title companies, surveyors, property insurance companies, and government regulatory officials. - Ans...

f a borrower is required to pay alimony or child support, it must be included as a(n): - Asset - Liability - Qualifier - Mitigating circumstance - Answer-Liability. Alimony and child support must be included in a borrower's liabilities if they are required to pay. A lender who refuses to originate loans in a particular neighborhood or ZIP code because of the perceived creditworthiness of consumers living in the area is in violation of: - FCRA - ECOA - HOEPA - RESPA - Answer-ECOA. Re...

Fundamentals of Mortgage Brokerage Exam With Complete Solutions AACI - answerAccredited Appraiser Canadian Institute - designation granted by Appraisal Institute of Canada Accelerated Payments - answerpayment options stream whereby the monthly mortgage payment is either split in half or in quarters and is paid every two weeks (bi-weekly) or every week (weekly) Accredited Mortgage Professional - AMP - answernational designation for mortgage professionals in Canada issued by the Canadian A...

RECA Exam Study Guide Questions and Answers Rated A+ Carl, a real estate professional, is registered with Prime Plus Real Estate Ltd. He has listed his brother's house for sale with the brokerage. A real estate professional with another brokerage contacts Carl and asks to preview the property as she has a potential buyer. What level of disclosure must Carl provide? Disclosure level 1 When evaluating an ethical dilemma, the first step is awareness. An individual may become aware of ...

Which of the following is NOT a RECA educational resource for industry professionals? - Answer- Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act - Answer- Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time - Answer- Consumer Price Index (CPI) Which of the following will occur to the supply of a good when there is a change in quantity...