Complete Question:
Under Article 7 on “hard money loans” (cash) of $30,000.00 and over for first trust deed loans, and $20,000.00 and over for junior deeds of trust, except where the new usury laws apply, the loan broker’s commission maximum is:
Group of answer choices
A. 10%.
B. 12%
C. 20%
D. As much commission as her borrower will agree to pay her.
Answer:
D. As much commission as her borrower will agree to pay her.
Explanation:
Under Article 7 on "hard money loans" (cash) of $30,000.00 and over for first trust deed loans, and $20,000.00 and over for junior deeds of trust, except where the new usury laws apply, the loan broker’s commission maximum is as much commission as her borrower will agree to pay her.
However, in some states a usury law has been passed to define the maximum rate of interest that may be charged on some hard money loans.
In real estate transactions, a hard money loan can be defined as a short-term loan or loans of last resort which is secured by a real property. These type of loans are mainly issued by the private investors (individuals or companies) rather than the common lenders such as credit union or a bank.
The maximum commission for loan brokers in the case of hard money loans is not universally defined and may be a matter of negotiation between the borrower and lender. However, specific local legislation might apply.
The question pertains specifically to the loan broker’s maximum commission under Article 7 for hard money loans (cash) of $30,000.00 and over for first trust deed loans, and $20,000.00 and over for junior deeds of trust. In most jurisdictions, the maximum commission percentage is not specifically defined in the law that broadly covers these loans. Instead, it would traditionally be a matter of negotiation between the borrower and the lender (or the lender’s representative, the broker). However, there might be specific state or regional legislation that sets a maximum percentage for commission in the circumstances mentioned above. To get the accurate answer you should refer to the local legislation or consult with a legal expert.
#SPJ3
B) Account Title column.
C) Doc. No. column.
D) Post. Ref. column
Answer:
C
Explanation:
Source document (used as a cross reference from the
journal to the source document and written in the
Doc. No. column)
b. Price will remain constant.
c. Price will increase.
d. There is not enough information to answer this question.
Answer:
C. Price increases.
Explanation:
Supply for the good decreases while demand remains constant, and people would have to compete with each other more to obtain the good
The seller would naturally sell the good to the highest bidder/buyer so as to maximise his profit, thus as a good becomes scarcer, its price increases
low grade gasoline
wrapping paper
apple candy
I am 100% sure that it is low grade gasoline... I used Google to help find the answer.