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Essentials Of Investments
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
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19 and 20 I’m having trouble with. I was thinking 20 maybe was C. But unsure
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
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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