Question: A mortgage broker structures a higher - priced loan with two points in borrower credit because the borrower has limited cash to close, and suggests

A mortgage broker structures a higher

-

priced loan with two points in borrower credit because the borrower has limited cash to close, and suggests the borrower use the premium generated to subsidize the closing costs. After consideration, the borrower agrees and moves forward. This is:

.

Illegal and ethical

.

Illegal and unethical

.

Legal and unethical

A mortgage broker structures a higher - priced

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

$7,500$7,847Mark for follow upQuestion 2 of 49.What is the amount ef Catherine's refund?$984$4,587$10,752$14,355Mark for follow up

It is becoming widely expected that interest rates will rise in the coming year. In recent weeks the 10 year US bond has risen from about 1.50% to 1.80%. Using the appendix for chapter 2 on Webster...

Need help figuring out problem #40, #42, and #45 in the attached document. I have the answers for the problems, but need to see how they are worked out. FIN 142 - Real Estate Finance Problem Set 2 1....

I need an expert for this. please check info for details. For exclusive use Florida International University, 2015 REVISED SEPTEMBER 6, 2013 CRAIG FURFINE KEL757 The Return of the Loan: Commercial...

I need your help in this. today. will be your client. For exclusive use Florida International University, 2015 REVISED SEPTEMBER 6, 2013 CRAIG FURFINE KEL757 The Return of the Loan: Commercial...

Caf Paradiso Business Plan - Business Plan 2007/2008 Commercial-in-Confidence Date Sample Table of Contents 1.0 2.0 3.0 4.0 5.0 Executive Summary 1 1.1 Business Opportunity 1 1.2 Product/Service...

Attribute Sampling Problem 1 You have been assigned by the in charge auditor to test controls over accounts receivable, specifically, to determine credit authorization. P & P requires that the credit...

Evaluate the potential gains and losses for forwards,future,call options,put options and swaps. Outline and describe the different risks that each type of derivative contract faces. Describe...

Prepare the couples federal income tax return, Form 1040 for the year ended December 31, 2021 , plus any additional schedules necessary. Forms are available at the IRS website Links to an external...

The loan amount of $5.3MM as stated in the term sheet is limited to 60% of total project costs. What is the minimum total project cost that will allow the loan to remain at least that amount ($5.3MM)...

Section 9 Completing the audit problems 1, 2, and 5. Page 119 Section 10 Writing the report problems 1, 2, and 3Page 120 ABC, INC. A Comprehensive Decision Based Case, 3rd Edition, 2015 ISBN:...

John observed the prices of three government bonds trading on Bond Exchange of South Africa. The first bond was trading at a price of R943.40 and it matures after 1-year; the second bond was trading...

Name each ionic compound 1. Sc2O3 2. AgCl

answer The South passed what were known as laws, aimed at * 4 points separating the races. O Jim Crow O Tort O Alimony O Maritime During World War II, about African Americans served in * 4 points the...

Q What is the function of anti-pumping in the circuit breaker?