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What information must a brokerage disclose in writing to a borrower if the brokerage may or will receive a fee or other remuneration in connection with the mortgage or a mortgage renewal? Select one: a. The nature of the relationship between the brokerage and each lender under the proposed mortgage

What information must a brokerage disclose in writing to a borrower if the brokerage may or will receive a fee or other remuneration in connection with the mortgage or a mortgage renewal? Select one: a. The nature of the relationship between the brokerage and each lender under the proposed mortgage

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What information must a brokerage disclose in writing to a borrower if the brokerage may or will receive a fee or other remuneration in connection with the mortgage or a mortgage renewal? Select one: a. The nature of the relationship between the brokerage and each lender under the proposed mortgage b. The estimated cost of borrowing c. The number of lenders the brokerage represented during the previous year d. The basis for calculating the amount of the fee or other remuneration and from whom it may or will be received
Transcribed Image Text:What information must a brokerage disclose in writing to a borrower if the brokerage may or will receive a fee or other remuneration in connection with the mortgage or a mortgage renewal? Select one: a. The nature of the relationship between the brokerage and each lender under the proposed mortgage b. The estimated cost of borrowing c. The number of lenders the brokerage represented during the previous year d. The basis for calculating the amount of the fee or other remuneration and from whom it may or will be received
What should be the focus of a meeting when informing a broker/agent about the termination of their contract? Select one: a. Clearly state the reasons for termination in a factual and non- confrontational manner b. Provide positive feedback on their performance c. Discuss their future job prospects d. Thank them for their contributions to the brokerage
Transcribed Image Text:What should be the focus of a meeting when informing a broker/agent about the termination of their contract? Select one: a. Clearly state the reasons for termination in a factual and non- confrontational manner b. Provide positive feedback on their performance c. Discuss their future job prospects d. Thank them for their contributions to the brokerage
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