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ale4655 [162]
3 years ago
7

In accordance with RESPA, whenever a buyer obtains a new first mortgage loan from a chartered or insured lender, when the loan i

s insured by the FHA or guaranteed by the VA, or when the loan will be sold to one of the federally related secondary mortgage market agencies, a good-faith estimate of the settlement costs must be provided by the lender within:
A. 3 business days
B. 5 business days
C. 30 calendar days
D. 90 calendar days
Business
2 answers:
erastovalidia [21]3 years ago
8 0

Answer:

A. 3 business days

Explanation:

A good-faith estimate of the settlement costs must be provided by the lender within 3 business days.

Hoochie [10]3 years ago
5 0

Answer:

A. 3 business days

Explanation:

In accordance with RESPA, whenever a buyer obtains a new first mortgage loan from a chartered or insured lender, when the loan is insured by the FHA or guaranteed by the VA, or when the loan will be sold to one of the federally related secondary mortgage market agencies, a good-faith estimate of the settlement costs must be provided by the lender within 3 business days.

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A lender estimates that the closing costs on a $165,000 home loan will be $6,187.50. The actual closing costs were 3.5% of the l
Ivanshal [37]
Home loan amount = $165,000

Estimated closing costs = $6,187.50 

% of estimated closing cost = ?

$165,000 * x% = $6,187.50
x% = $6,187.50 ÷ $165,000
x% = 0.0375
x = 0.0375 x 100 = 3.75

Therefore, estimated closing costs = 3.75% of loan amount = 3.75% of $165,000

Actual closing costs = 3.5% of loan amount = 3.5% of $165,000 = $5775

Difference in estimated and actual closing cost percent = 3.75% - 3.5% = 0.25%

The closing costs were lower than the estimate by 0.25%
5 0
3 years ago
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Why the feedback form is so important for the trainer and the training itself?​
SashulF [63]

Answer:

It tells on how he or she can improve his ways of training based on the previous people he or she trained feedbacks.

5 0
3 years ago
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An intangible asset
Alexxx [7]

Answer:

The correct answer is letter "C": does not have physical substance, yet often is very valuable.

Explanation:

Physically, intangible assets do not exist but they are important since they represent potential revenue. Types of intangible assets include brand recognition, intellectual property and legitimate patents such as patents, trademarks, and copyrights. Intangible Assets do not have value for accounting recording purposes.

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3 years ago
Amaya is a member of a new product design team. The team leader proposed a process that would get quick results, but Amaya was c
Vera_Pavlovna [14]

People often have different suggestions and may or may not agree with each other. Due to groupthink, Amaya did not voice her concern as she did not want to appear unsupportive of the team.

  • Groupthink is known to be a situation that takes place when a group of individuals arrive at a consensus without critical reasoning or looking into the repercussions or alternatives.

It is often based on a common desire not to anger the balance of a group of people.

It can also be regarded as a psychological phenomenon where individual strive to meet a consensus within a group.

Learn more about Groupthink from

brainly.com/question/10206116

5 0
3 years ago
Zwick Company bought 25,000 shares of the voting common stock of Handy Corporation in January 2021. In December, Handy announced
sp2606 [1]

Answer:

$125,000

Explanation:

Zwick company bought 25,000 shares of Handy corporation

In 2021 Handy corporation reported $208,100 net income

The cash dividend reported is $5.00 per share on all its 208,000 shares

Therefore the Zwicks company dividend revenue from Handy corporation in December 2021 can be calculated as follows

= 25,000 shares × $5.00

= 125,000

Hence Zwick's dividend revenue from Handy corporation is $125,000

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