Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
19 and 20 I’m having trouble with. I was thinking 20 maybe was C. But unsure
Transcribed Image Text:tion. Under RESPA rules, the mortgage broker's
uyers who need a mortgage loan.
For every five referrals, the mortgage broker will
enter the licensee's name in a drawing for a vaca
request is
A.
a good business practice.
В.
an opportunity for the real estate licensee to
pick up some extra cash.
Dan illegal request.
D. is permitted because the licensee doesn't
actually receive a fee.
19. What is the effect of the lender's increasing the
loan's interest rate just before closing
A. The borrower has to pay it.
B. Closing will be delayed.
C. The borrower can choose to pay extra points.
D. The real estate licensee is expected to pay the
extra points.
20. The buyer has approached a lender for a mortgage
loan to buy his first home. Until the lender pro-
vides a Loan Estimate, which of the following may
the lender charge this applicant?
A. Appraisal fee
B. Loan application fee
C. Credit report fee
D. All of these
Expert Solution
Step 1
LENDER
Lender can be a person or an organization who lends money. The most common lenders are financial institutions ,banks etc..
BORROWERS
They borrow money from the lenders. usually they take loans from banks under an agreement to repay the money over a specified period of time.
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