The CE Shop » Sales License » CA Real Estate Finance Course » 2021

Question #1

The Covered Loan Law limits total fees and points paid by the borrower prior to closing to what amount?

A. 6%

B. 7%

C. 4%

D. 5%

Question #2

The ______ restricts refinancing when the new loan has no identifiable benefit to the borrower.

A. Covered Loan Law

B. IRS

C. California Department of Real Estate

D. Federal lending regulations

Question #3

Which of these is actually an amendment to the Truth in Lending Act (TILA)?

A. Real Estate Settlement Procedures Act

B. Honest Lending Education Act

C. Consumer Mortgage Protection Act

D. Home Ownership and Equity Protection Act

Question #4

Borrowers should be wary of lenders who offer mortgages at more than ______ over current market interest rates.

A. 2%

B. 5%

C. 3%

D. 6%