Escrow statement - Study guides, Class notes & Summaries

acquisition agent - correct answer people who solicit others to attend a presentation license expire - correct answer 2 years from the issued date powers of the commission - correct answer can fine you, suspend your license, or refer you to court reinstatement for expired license - correct answer retake the test escrow account - correct answer deposit for purchase into a bank account developer - correct answer person/entity in the business of creating or selling any timeshare prog...

1. If a party uses a fictitious or different name than its business name, it must be approved by the a. Maryland Insurance Administration b. National Association of Insurance Commissioners c. Maryland Land Title Association d. American Land Title Association - Answer a. Maryland Insurance Administration 2. When there is termination of the appointment by a title insurer, the insurer must update the producer register within how many days. a. 15 days b. 30 days c. 45 days d. 60 days - An...

Colibri Real Estate (Real Estate Express) Final Exam Review (UPDATED) Fully Solved Assured A+. Broker Jane has been accused of a law violation regarding commissions. Which of the following might result in her being found guilty? A) Jane paid a commission to her licensed personal assistant. B) Jane paid a commission to the wife of one of her licensees who was recently killed in an auto accident. The deceased licensee had earned the commission prior to his death. C) Jane paid a commission p...

A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. secondary market The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. Federal Housing Finance Agency (FHFA) The ____ guarantee allows mortgage lenders to obtain a better price for their loan in the capital markets. Gov't. National Mortgage Association - Ginnie Mae ...

Notary Signing Agent Exam 2024 Borrower's Certification Authorization - Answer ️️ -This document certifies all of the information provided the loan application is true and complete Closing Disclosure - Answer ️️ -(Combines and replaces the HUD/Settlement Statement and Truth in Lending (TIL) statement for most loans applied for beginning October 3, 2015 )The Closing Disclosure itemizes all closing costs. Page 1 includes loan amount, interest rate, projected monthly payments, closin...

Missouri Real Estate Exam Questions and Answers 100% Pass The MREC requires the brokers for the buyer and seller to retain legible copies of both buyer's and seller's signed closing statements 3 years By what title is Chapter 339 of the Missouri State Statutes also known? The license law If the buyer and seller are represented by different brokers, it is the responsibility of ________ to deliver, or cause to have delivered, the closing statements. listing broker Broker Kelley took a listin...

Gold Coast Final Exam Questions and Answers 100% Solved What is the form you sign that says you will pay the loan back ? promissory note What is the post licensing grace period after first expiration ? none Deposits is a form of... valuable consideration Physical land and improvements real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both Yes What is the maximum fine per offense ? $5,000 per fine...

Title Escrow Exam Study Guide Utah Questions and Answers Already Passed How much can you spend on a special event for a client? - $75 Encumbrances - A claim, lien, charge, or liability attached to and binding real property Solvency - the possession of assets in excess of liabilities; ability to pay one's debts. Escrow - is the process of holding monetary funds by a title agency or bank for the purpose of offering or purchasing real property. Title Insurance - is the product ...

Transaction coordinator (tc) CORRECT ANSWERS: Is a real estate professional Who assist the agent and broker in the processing of the legal compliant real estate property transaction file generally they are responsible for gathering much of the information managing most of the paperwork meeting deadlines and following up of the contractual items involved in a real estate transaction as part of the pre escrow process. CAL BRE S regulations CORRECT ANSWERS: As per regulations it is a broker's...

Post Licensing 301 Practice Exam 1 Questions and Answers Already Passed What is the primary purpose of a real estate listing agreement? A) To establish the terms of the sale B) To define the property boundaries C) To grant an exclusive right to sell the property D) To assess the value of the property C) To grant an exclusive right to sell the property Which document is used to disclose property conditions to potential buyers? A) Sales Contract B) Buyer’s Agent Agreement C) Prop...