Module 4

Advertising an attractive interest rate which a mortgage professional is not at liberty to offer is a major ethical offense and a violation of:

Regulation Z

According to fair lending laws, age may be considered as a factor in denying a loan application if:

The applicant is too young to enter into a contract

A hazard insurance company hosts a dinner for the employees of a mortgage broker. The designated broker encourages the employees to send clients to the insurance company. Who has violated RESPA?

Both the hazard insurance company and the mortgage broker

A mortgage broker is unable to assist a client and refers him to another mortgage broker for origination services. The second broker pays the referring broker a fee for providing the lead. Which of the following is correct?

Payment of the fee is illegal

The Gramm-Leach-Bliley Act protects the privacy of nonpublic personal information using all of the following methods, except:

Requiring financial institutions, including mortgage companies, to obtain permission for the use and sharing of consumers' nonpublic personal information