Pls help ASAP for both Last year you arranged a private mortgage for a borrower using a private lender. Asthat mortgage is now coming up for renewal and your borrower wishes to renew it.you must begin preparing the appropriate disclosure documents. Given thisscenario which of the following disclosure documents must you provide the privatelender to broker this renewal?Select one:a. Form 21.2b. Form 1c. Form 2d. Updated appraisal Jackson is brokering a mortgage for his borrower, Julia, using another mortgagebroker's private investor, Donna. Jackson feels that he can only adequatelyrepresent Julia. Given this scenario which of the following statements is mostcorrect?Select one:a. Jackson must disclose this to both the investor and the borrowerb. Jackson must act on behalf of both the borrower and the investorc. Jackson does not need to disclose this to either partyd. Jackson must disclose this to the borrower but not the investor

1. In this respect, option d) Updated Appraisal,represents the appropriate disclosure document that…

Answered: Jackson is brokering a mortgage for his…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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One of three tenants in your insured’s rented triplex, sets fire to his apartment, is charged with arson and jailed. Next day the tenant's wife bails out her husband who allegedly set the fire and they return to live in the damaged apartment. The insurance company wishes to retire from this risk as soon as possible. What procedure must the insurer follow to legally cancel the policy? O A) Insurer can cancel in five days by written notice of termination personally delivered and any return premium paid to insured. O B) Insurer cannot cancel the policy mid-term and must remain on risk until the renewal date. O C) Cancellation can only be made fifteen (15) days following receipt of cancellation notice by registered mail. O D) Policy must remain in force but any additional damage done by the tenant will not be covered."
Listing Agent Pete is willing to help sell Seller Cami's condo but believes it will take a lot of work. Because of this, Pete wants to make sure that his efforts result in a well-earned commission. Given his stated desire, predict which type of listing agreement Pete will insist on entering into with Cami. net listing exclusive right-of-sale listing open listing exclusive-agency listing
D) The title company decides which index type the ARM will use when an applicant closes the loan, and the index type generally will change after loan closing. A Loan Estimate is considered expired and is permitted to be revised by the creditor without additional justification if the consumer indicates an intent to proceed with the transaction more than: A) 1 business day after the Loan Estimate was provided. B) business days after the Loan Estimate was provided. C) 7 business days after the Loan Estimate was provided. D) 10 business days after the Loan Estimate was provided.
3. With respect to foreclosure, give the reason you agree or disagree with the statements below: a. A foreclosure sale eliminates the outstanding debt(s) of the individual being foreclosed. b. Proceeds of a foreclosure sale are distributed to those holding a lien on the property on the basis of the percentage of total debt each is owed. c. Foreclosure means the senior mortgage loan lender automatically takes ownership of the property.
“One of the ways in which fraud upon the bankruptcy system occurs is when debtors intentionally conceal assets from the bankruptcy process. Indeed, reported bankruptcy court decisions are rife with examples of debtors attempting to hide or shield assets from their creditors. Debtors who are discovered concealing assets are subject to certain civil remedies, such as the dismissal of their bankruptcy case or the denial of the discharge of their preexisting indebtedness”. Required: Critically explain three common ways that fraud perpetrators conceal and transfer assets/ income during bankruptcy.
What are some examples of material facts that must be disclosed in connection with the purchase or sale of a security?
While arranging the client's Ontario Automobile Policy (OAP1) policy, the client tells the Broker that they use their car for about 6 hours per week to provide a ride sharing service. What, if any, additional coverage is needed? Nothing, as the OAP1 now covers part-time ride sharing so long as the vehicle is primarily for personal use. An endorsement to the drivers OAP1 for rented or leased vehicles (OPCF 5) is required. A separate specific ride-sharing insurance policy is required as it is a commercial enterprise. An endorsement to the drivers. OAPE for transportation (OPCF 20) is required.
Building and personal property coverage form Can cover which of the following expenses Except automobile held for sale Building additions Improvement and betterment Property of others
In addition to the collateral already in debtor’s possession, which of the following can be included in a security interest? a. Future advances b. After-acquired property c. Proceeds d. Fire insurance payments after a loss
On January 1, 20X4, Gold Company purchased a computer with an expected economic life of five years. On January 1, 20X6, Gold sold the computer to TLK Corporation and recorded the following entry Consolidation Worksheet Entries Cash Accumulated Depreciation Computer Equipment Gain on Sale of Equipment Debit 39,000 Credit 16,000 40,000 15,000 TLK Corporation holds 60 percent of Gold's voting shares. Gold reported net income of $ 45,000 including the gain on the sale of equipment, and TLK reported income from its own operations of $ 85,000 for 20x6. There is no change in the estimated economic life of the equipment as a result of the intercompany transfer. In the preparation of the 20X6 consolidated balance sheet, computer equipment will be Multiple Choice Credited for $24,000. O Debited for $1,000. Debited for $15,000 Debited for $ 40,000
Answer in detail ..... Business law question . what are the circumstances in which premium is returnable by the insurer ?
You are a broker. Your sales associate is new and can't remember the key differences between lien types. You remind them: Liens can be voluntary or involuntary. Voluntary liens are created with the owner's consent. A lien can only apply to one piece of property a debtor owns Because of this, liens are always specific. Legally, liens cannot be involuntary. They must be created with the owner's consent and if they're not, they're illegal All liens affect all of the debtor's property. That's why they're also called general liens.

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