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makkiz [27]
2 years ago
11

Gus has applied for a home equity line of credit from his federally insured bank so that he can make some renovations to his kit

chen. The same bank is his lender for his home mortgage. Will this loan be subject to Real Estate Settlement Procedures Act requirements
Business
1 answer:
horsena [70]2 years ago
3 0

This is true that the given loan will be subjected to Real Estate Settlement Procedures Act requirements as RESPA applies to any residential loan transaction from a federally insured financial institution, including equity lines of credit.

<h3 /><h3>What is Real Estate Settlement Procedures Act?</h3>

RESPA is an act that prohibits certain practices such as bribes, referrals, and unearned fees.

RESPA also regulates the use of escrow accounts, for instance, it prohibits credit managers from asking for excessive large escrow accounts and prevents sellers from hiring title insurance companies.

Therefore, This is true that the given loan will be subjected to Real Estate Settlement Procedures Act requirements as RESPA applies to any residential loan transaction from a federally insured financial institution, including equity lines of credit.

learn more about RESPA:

brainly.com/question/14102102

#SPJ1

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What is an incentive?
77julia77 [94]

Answer:

it acts as a stimulus to a market

Explanation:

an incentive is the extra money given to an employee for the constant hard work done,this can therefore act as a stimulus.

I hope this helps

8 0
2 years ago
True or False<br><br> To raise money, a partnership can sell stock.
nataly862011 [7]

Answer:

The answer is false. Partnerships can not sell stocks. They even can not issue shares to finance Thier requirements.

Only the public listed corporations can trade stocks and sell them to the open public in a registered stock exchange.

Explanation:

3 0
3 years ago
Taylor &amp; Edwards Inc. manufactures television sets. Last month, direct materials (electronic components, etc.) costing $550,
kirill [66]

Answer:

$170.24

Explanation:

The prime cost are the direct manufactured product's costs

raw materials + direct labors

Direct materials     550,000

Direct labor            880,000

total prime cost   1,430,000

Units manufactured 8,400

Prime Cost per unit =  cost / units

1,430,000 / 8,400 = 170.238095238 = 170.24

7 0
3 years ago
Which of the following is considered to be an accrued expense?
scoundrel [369]

Answer:

B. a computer technician has installed the latest software updates, but you have not received an invoice or made payment

Explanation:

An accrued expense arises when a service has been rendered to an individual or organisation but to which the recipient of the service has not made payment for the service. The expense will be recognized in the period in which the service is rendered. In this scenario, the technician has rendered a service by installing software updates but the organisation has not made payment for the service provided. This represents an accrued expense.

8 0
3 years ago
Pilar uses a unique product number for each product in her inventory. she makes the product number ____.
8090 [49]
Based on the question, Pilar was creating a database for her business.
The choices are: a. a table b. the primary key c. a database d. a record

I believe the answer is b. the primary key. 

<span>A primary key is a known as a unique record used in creating a license number or a telephone number. This is used in a relational database where there is only one primary key used as </span>
5 0
3 years ago
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