A Delaware real estate licensee receives a referral fee from a mortgage lender for steering a buyer to that lender. This is:
Why A RESPA violation — Section 8 prohibits kickbacks and referral fees between settlement service providers Is Correct
Answer B: A RESPA violation — Section 8 prohibits kickbacks and referral fees between settlement service providers
Key Delaware License Law Terms in This Question
People Also Study
Related Delaware Questions
- Which federal law requires lenders to provide the Loan Estimate form within 3 business days of receiving a mortgage application?Finance
- Under Delaware law, which of the following actions by a licensee is MOST likely to result in license revocation?Delaware License Law
- When must a Delaware real estate licensee provide their license number?Delaware License Law
- A Delaware real estate license automatically expires if the licensee fails to:Delaware License Law
- A Delaware broker who discovers that an affiliated salesperson has violated license law must:Delaware License Law
- A buyer puts 20% down on a $375,000 home and finances the rest. What is the loan amount?Real Estate Math
- An agent earned a 6% commission on a sale. The commission totaled $21,600. What was the sale price?Real Estate Math
- Closing is on September 15. Prepaid annual property taxes are $4,380 (paid January 1 for the full year). What is the seller's tax proration credit to the buyer? (Use 365-day year.)Real Estate Math
Key Terms to Know
An illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
State-Specific Concepts
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →