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Mastering Mortgage Agent Responsibilities & Disclosure Requirements Quiz

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To represent the best interest of both the borrower and lender/investor (correct)
To represent the best interest of the borrower only
To represent the best interest of neither the borrower nor the lender/investor
To represent the best interest of the lender/investor only

At least two business days prior to the mortgage agreement being signed
At least two business days after the borrower enters into the mortgage agreement
At least two business days after the mortgage agreement is signed
At least two business days prior to when the borrower enters into the mortgage agreement (correct)

Yes, a Mortgage Agent must provide all clients with a borrower disclosure form for all transactions (correct)
Yes, a Mortgage Agent must provide all clients with a borrower disclosure form for some transactions
No, it is only required if the borrower requests it
No, it is only required for certain types of mortgage transactions

When conducting a private mortgage where the brokerage is acting on behalf of any lender/investor (D) Signup and view all the answers

Annual Percentage Rate (D) Signup and view all the answers

A Mortgage Agent must prioritize the interests of both the borrower and lender equally (D) Signup and view all the answers

At least two business days before entering into the mortgage agreement (A) Signup and view all the answers

Yes, it is required for all mortgage transactions (B) Signup and view all the answers

When conducting a private mortgage where the brokerage is acting on behalf of a lender in a designated class (A) Signup and view all the answers

Annual Percentage Rate (D) Signup and view all the answers