Real estate trainers Study guides, Class notes & Summaries

1) Mortgage loan fraud is reported at what level? A. State B. Federal C. County D. City correct answer: B. Mortgage Fraud is reported to the FBI and to HUD. 2) Title V of the Housing and Economic Recovery Act (HERA) of 2008 is best known as: A. The SAFE Act B. RESPA C. TILA D. CRA correct answer: A. The complete name of which is the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. 3) The Nationwide Mortgage Licensing System & Registry (NMLS) was begun by which...

1) If applicable, and if the settlement service provider is other than the lender, which of the following disclosures is required before settlement but is not required within 3 business days after receipt of a completed application: A. Mortgage Servicing Disclosure Statement. B. Affiliated Business Arrangement (AfBA) Disclosure. C. Initial Escrow Statement. D. Servicing Transfer Statement. correct answer: B. In this case, the AfBA must be given at the time of the referral, or before if th...

1. All of the following statements are true about a partially amortized loan, except: A. The periodic payments do not fully amortize the loan by the end of the term. B. The final payment is a balloon payment. C. A partially amortized loan is a self-liquidating loan. D. Interest is being paid throughout the term. correct answer: C. Yes, all of these statements are true, except for C. 2. Which of the following is the best statement regarding a straight term mortgage: A. Payments are m...

1) The document which combines the Truth in Lending Statement required by TILA and the Good Faith Estimate required by RESPA is which of the following: A. The Home Loan Toolkit. B. The Loan Estimate. C. The Mortgage Servicing Disclosure Statement. D. The Closing Disclosure. correct answer: B. This is a statement of fact. 2) Until the Loan Estimate disclosure and other required disclosures are delivered to the borrower, an MLO may charge the borrower which of the following fees: A. A...

CAP GS839 Self Test Review The Trust Formula is computed as: (A) Credibility, Reliability, and Intimacy divided by Self Orientation (B) Competence, Reasonableness, and Intentionality divided by Self Orientation (C) Coherence, Research, and Information, divided by Significance (D) Coherence, Reliability, and Intimacy, divided by Speed - ANS Credibility, Reliability, and Intimacy divided by Self Orientation Scott and Todd Fithian list a number of areas of special expertise that ma...

Exam #2 Questions and answers. Questions bank. Update 2022. 100% proven pass rate. Rated A+ Document Content and Description Below The value of the set of employee behaviors that contribute, either positively or negatively, to organizational goal accomplishment is known as _____. A. task identity B. task orientation C. job s atisfaction D. job performance E. organizational commitment - D _____ includes employee behaviors that are directly involved in the transformation of organizational resour...

CONCEPTUAL AND PRACTICAL APPROACHES TO THE ASSESSMENT OF ACCOUNTING PRACTICES ACCOUNTING DOCTORAL SCHOOL DOCTORATE THESIS CONTENTS INTRODUCTION 9 Motivation and the importance of research 10 The purpose and objectives of the research 11 Current state of knowledge 12 Research Methodology 14 CHAPTER 1. THEORETICAL APPROACHES OF VALUE AND EVALUATION 19 1.1. Discussions for development of accounting as a science 20 1.1.1. Early Periods ...

1. Which of the following is true regarding the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (The SAFE Act): A. It is effective as of July 31, 2009. B. It is a key component of the Housing and Economic Recovery Act of 2008. C. It requires all states to implement a SAFE-compliant mortgage loan originator (MLO) licensing process that meets certain minimum standards through the Nationwide Mortgage Licensing System and Registry (NMLS). D. All of the above. correct answer: D....

1. All of the following are true regarding the counselor who meets with a prospective borrower for a reverse mortgage, except: A. The counselor explains the cost of the loan and the financial implications of obtaining it. B. The counselor is paid only if the borrower goes through with the reverse mortgage. C. At the end of the session, the counselor will provide a required certification of counseling. D. The counselor will provide guidance and advice on selecting a lender for the reverse m...