Ethics and fraud Flashcards
Under the federal fair housing law, the seven protected classes are
race, color, religion, sex, handicap , familial status and national origin
under RESPA, a real estate professional may give in return for the referral of real estate settlement service business a
Thank you
a real estate broker may pay a referral fee to
another real estate brokerage firm
who can provide closed sales comparables to an appraiser ?
real estate agent
which is NOT a common type of mortgage fraud ?
rehabilitation
what type of mortgage fraud scam occurs when a buyer borrows the down payment from the seller without the lenders knowledge ?
silent second
what is the mortgage fraud scam called when a broker invents borrowers and properties?
Air loan
what are two distinct areas of mortgage fraud that the FBI investigates?
fraud for profit, fraud for housing
which is NOT a mortgage fraud indicator?
high credit score
a lenders refusal to lend in a particular neighborhood is known as
redlining
