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xxMikexx [17]
2 years ago
14

Mishandling and/or improperly managing a borrower’s funds is a practice prohibited by:___.

Business
1 answer:
Gemiola [76]2 years ago
7 0

Mishandling and/or improperly managing a borrower’s funds is a practice prohibited by RESPA

  • The Real Estate Settlement Procedures Act (RESPA) gives consumers more information about settlement expenses and lowers closing costs by doing away with kickbacks and referral fees.
  • The RESPA Act was ratified in December 1974 and went into force on June 20 of the following year. RESPA bans sellers from requiring title insurance firms and forbids loan servicers from requesting unreasonably large escrow accounts.
  • When bribes or other unethical activities took place during the settlement process, a plaintiff has up to one year to file a case to enforce violations. Mortgage loans for residential properties with one to four families are covered by the RESPA Act.
  • The majority of these are loans for purchases, refinances, assumptions, loans for property improvements, and equity lines of credit.

Learn more about RESPA here brainly.com/question/28202570

#SPJ4.

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Your company has just taken out a 1-year installment loan for $82,500 at a nominal rate of 12.0% but with equal end-of-month pay
Bas_tet [7]

Answer:

89.63% of 2nd month payment will go towards the payment of principal.

Explanation:

Loan Payament per month = r ( PV ) / 1 - ( 1 + r )^-n

r = rate per period = 12% per year = 1% per month

n = number months = 12 months

PV =  present value of all payments = $82,500

P = payment per month = ?

P = 1% ( $82,500 ) / 1 - ( 1 + 1% )^-12

P = $7,330 per month

Month Payments Principal Interest Balance

1                 -7330              -6505     -825       75995

2                -7330              -6570      -760      69,425

Percentage of Principal Payment  = Principal payment / totla monthly payment = $6,570 / $7,330 = 0.8963 = 89.63%

6 0
3 years ago
how many years will be required for a given sum of money to triple, if it is deposited in a bank account that pays 6% per year c
IgorLugansk [536]

Answer:

19 years

Explanation:

the 19th year your money will triple and be worth 3.0256 times the original sum.

7 0
3 years ago
The decision to take less salary in a year when the company was less profitable and employees' pay was cut is an example of Nish
ollegr [7]

Answer: commitment

Explanation:

The Chief Executive Officer of Japan Airlines, who was Haruka Nishimatsu, was an example of a strategic leader who had a high performance.

The The decision to take less salary in a year when the company was less profitable and employees' pay was cut is an example of Nishimatsu commitment to the company.

4 0
3 years ago
During World War II, both Germany and England had plans for a paper weapon: they each printed the other's currency, with the int
Katarina [22]

Answer:

Relative prices would become more variable.

Menu and shoeleather costs would rise.

Hyperinflation could undermine the public's confidence in the economy.

Explanation:

The first reason that would make this to be effective is the hyperinflation that it will create and this is very bad for the economy as too much money will be chasing fewer goods.

Examples of what the effect of a paper money would be include: extreme hyperinflation can reduce the confidence of the public in the economy and economic policy; variability of the relative price between the countries will rise; shoeleather and menu costs will rise; it will result in an arbitrary change in tax liability; the level of uncertainty in the economy will rise and there will be an arbitrary wealth redistribution.

it should be noted this action would not deny the government seigniorage revenue from the inflation that would follow as the public will get the money dropped by the foreign airplanes.

3 0
3 years ago
A __________ is a two-part process. one part explains what an employee would actually do at various jobs.
saw5 [17]
It seems that you have missed the given options for this question, but anyway, here is the answer. A JOB ANALYSIS  is a two-part process; one part explains what an employee would actually do at various jobs. This is considered as the <span>process to identify and determine in detail the particular </span><span>job. Hope this answer helps.</span>
6 0
2 years ago
Read 2 more answers
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