Which form of payment is most common for a property manager quizlet?
A property manager could be paid a percentage of income, a salary, or a flat fee. Usually, a property management firm is paid by a percentage of the rents collected.
Does California have an active secondary mortgage market?
D. California has a very active secondary mortgage market. … Mortgages are used instead of Deeds of Trust, which allows borrowers greater flexibility and protection.
Which requirement under the California Business and Professions Code addresses the question?
Which requirement under the California Business and Professions Code addresses the question? Yes, it is permissible for a broker to accept those funds. They will eventually be used for a loan or to buy a specific note. The requirement is outlined in Article 5.
What is the difference between Southern California and Northern California in reference to escrow accounts quizlet?
In Southern California, escrow services are usually performed by independent escrow companies or financial institutions. In Northern California, the escrow services are usually performed by title insurance companies. The main difference is when the instructions are signed.
Which form of payment is most common for property manager?
When it comes to collecting rents, a significant quantity of property management companies still collect paper checks. According to a survey by the Association of Financial Professionals, the most common form of payment is still the old-fashioned paper check.
What are not really deeds?
Which of the following deeds are not really deeds at all? Land Patent. Trust Deed. Trustee’s Deed is given to the buyer of property at a trust deed foreclosure sale, and a Land Patent is used by the government to grant public land to an individual. A Trust Deed is not a deed.
What is Reg Z in lending?
Regulation Z prohibits certain practices relating to payments made to compensate mortgage brokers and other loan originators. The goal of the amendments is to protect consumers in the mortgage market from unfair practices involving compensation paid to loan originators.
What is the real estate regulatory body in California?
The California Department of Real Estate (DRE) is the state agency that licenses real estate brokers and salespersons. The California DRE also investigates complaints and disciplines practitioners who violate the law.
Which is the largest secondary market participant?
“The largest participant in the secondary market is Fannie Mae, formerly known as the Federal National Mortgage Association.
Which agency relationship can most easily result in a conflict of interest for the broker?
Which agency relationship can most easily result in a conflict of interest for the broker? A breach of the agent’s fiduciary responsibilities to the client.
In which of the following capacities does the commissioner serve in California?
In which of the following capacities does the Commissioner serve in California? As the chief executive of the Bureau of Real Estate. The Commissioner serves as both the chairperson of the State Department of Justice, and the chief executive of the Bureau of Real Estate.
Did Janice’s broker handle this situation?
Did Janice’s broker handle this situation correctly? No, the broker must inform the seller in writing the buyer’s check is being held until acceptance of the offer.