Jackson is brokering a mortgage for his borrower, Julia, using another mortgage broker's private investor. Donna. Jackson feels that he can only adequately represent Julia. Given this scenario which of the following statements is most correct? Select one: a. Jackson must disclose this to both the investor and the borrower b. Jackson must act on behalf of both the borrower and the investor c. Jackson does not need to disclose this to either party d. Jackson must disclose this to the borrower but not the investor
Jackson is brokering a mortgage for his borrower, Julia, using another mortgage broker's private investor. Donna. Jackson feels that he can only adequately represent Julia. Given this scenario which of the following statements is most correct? Select one: a. Jackson must disclose this to both the investor and the borrower b. Jackson must act on behalf of both the borrower and the investor c. Jackson does not need to disclose this to either party d. Jackson must disclose this to the borrower but not the investor
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Pls help ASAP for both
Transcribed Image Text:Last year you arranged a private mortgage for a borrower using a private lender. As
that mortgage is now coming up for renewal and your borrower wishes to renew it.
you must begin preparing the appropriate disclosure documents. Given this
scenario which of the following disclosure documents must you provide the private
lender to broker this renewal?
Select one:
a. Form 21.2
b. Form 1
c. Form 2
d. Updated appraisal
Transcribed Image Text:Jackson is brokering a mortgage for his borrower, Julia, using another mortgage
broker's private investor, Donna. Jackson feels that he can only adequately
represent Julia. Given this scenario which of the following statements is most
correct?
Select one:
a. Jackson must disclose this to both the investor and the borrower
b. Jackson must act on behalf of both the borrower and the investor
c. Jackson does not need to disclose this to either party
d. Jackson must disclose this to the borrower but not the investor
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