Reviewing All Questions A mortgage loan originator (MLO) should inform their company of potential fraud if the MLO: suspects that a processor is changing pay stubs. suspects that another MLO is co-sponsoring a real estate agent's promotional event. overhears a processor requesting a rush approval on a VA loan. receives multiple applications from an individual real estate agent for a new housing subdivision. 8888 0

Reviewing All Questions A mortgage loan originator (MLO) should inform their company of potential fraud if the MLO: suspects that a processor is changing pay stubs. suspects that another MLO is co-sponsoring a real estate agent's promotional event. overhears a processor requesting a rush approval on a VA loan. receives multiple applications from an individual real estate agent for a new housing subdivision. 8888 0

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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Similar questions

Which one (1) of the following statements is true regarding Replacement Cost insurance? OA) A professional appraisal is required by insurers before they will insure any property for its Replacement Cost. OB) Most insurers do not require an insured to replace a damaged property as a condition to be indemnified for its Replacement Cost. OC) A condition of this coverage is that replacement must be with materials of similar kind and quality. OD) Only commercial properties can be insured for their Replacement Cost.
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92 Which of the following actions is suspicious activity and possibly mortgage fraud? A) The mortgage broker ordering the appraisal B) The appraiser only using independently selected comparables C) The borrower requesting to hand-dellver the Verification of Employment D) The borro er asking che lender to acceot a power of attorey for a hardship situation
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Which one (1) of the following types of loss or expense is covered under Section I of the Tenants Comprehensive policy? OA) Assessments levied by the landlord to pay for damage caused by tenants to those areas of the premises which they all use. OB) At the insured's option, damage to the portion of the dwelling occupied by the insured as a private residence caused by theft or attempted theft. OC) Fire damage to the dwelling caused by another tenant. OD) Moving expenses incurred by cancellation of the lease agreement resulting from the occurrence of one of the insured perils.
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