Flashcards in Financing and Settlement Exam 2 Deck (7)
Truth in Lending Act applies to which type of loan transactions?
Single family home loan
Right of rescission is how many days after signing
Disclosure of estimated closing costs is required by
RESPA (Real Estate Settlement and Procedures Act)
FHA requires flood insurance for...
100% of LOAN amount
Examples of primary mortgage lenders are....
Banks, Credit Unions, Mortgage Lenders
Who could be involved in both primary and secondary markets
Insurance company and pension plan