David Saks: February 2014

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 2560

#2560

One thing that the Home Mortgage Disclosure Act does not do is require that lenders provide information that could provide evidence of redlining.

Is this fact true or false ?

Please take your time. The solution is posted below the wildlife photo.

wildlife

A. False

One fundamental purpose of the Home Mortgage Disclosure Act is to require that lenders provide and disclose information that may provide evidence of redlining.

The intention is to observe closely any signs of prohibited lending practice.




David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • February 03 2014 12:58AM
Real Estate Practice : Lesson 2560
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#2560 One thing that the Home Mortgage Disclosure Act does not do is require that lenders provide information that could provide evidence of redlining. Is this fact true or false Please take your time. The solution is posted… more
Real Estate Practice : Lesson 2559
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#2559 Under the Real Estate Settlement Procedures Act (RESPA) a lender may pay a kickback to a builder for sending a buyer in. Is this fact true or false Please take your time. The solution is posted below the wildlife photo… more
Real Estate Practice : Lesson 2558
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#2558 Under the Real Estate Settlement Procedures Act (RESPA) a lender is allowed to pay a referral fee. Is this fact true or false Please take your time. The solution is posted below the wildlife photo. A. False &… more
Real Estate Practice : Lesson 2557
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#2557 Under the Real Estate Settlement Procedures Act or RESPA, a lender is required to give an applicant for a loan a good faith estimate (GFE) of the closing costs associated with the loan within seven days of the application. Is this… more
Real Estate Practice : Lesson 2556
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#2556 When charges are calculated, the charges in a real estate transaction that are payable by or to a party to the closing will be found in the Truth In Lending Statement (TILA). Is this fact true or false Please take your… more
Real Estate Practice : Lesson 2555
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#2555 Federal legislation that will prevent discrimination against an applicant because of their race is RESPA Is this fact true or false Please take your time. The solution is posted below the wildlife photo. A… more
Real Estate Practice : Lesson 2554
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#2554 When a landowner has water flowing through his or her land the landowner's rights to that water are known as easement rights. Is this true or false Remember to take your time. The solution is posted below the wildlife… more
Real Estate Practice : Lesson 2553
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#2553 It is never advisable for a buyer to consider raising cash for a balloon payment by refinancing his or her loan. Is this fact true or false Please take your time. The solution is posted below the wildlife photo. … more
Real Estate Practice : Lesson 2552
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#2552 A seller will most likely consider using a seller second to supplement a new loan for a buyer when interest rates are high. Is this fact true or false Please remember to take your time. The solution is posted below the… more
Real Estate Practice : Lesson 2551
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#2551 A land contract may be used to finance the buyer's purchase of a home. This is the first mortgage. Is this fact true or false Please remember to take your time. The solution is posted below the wildlife photo. … more