Finance (alternative)
A Maryland real estate professional advising a first-time homebuyer on mortgage options should recommend they review the Consumer Financial Protection Bureau's (CFPB) resources because:
AThe CFPB sets mortgage interest rates
BThe CFPB provides consumer education tools, mortgage comparison resources, and handles mortgage complaints✓ Correct
CThe CFPB licenses mortgage lenders in Maryland
DThe CFPB provides down payment grants to first-time buyers
Explanation
The CFPB provides valuable consumer education resources, mortgage comparison tools, and a complaint portal for consumers experiencing problems with mortgage lenders—important resources for first-time homebuyers navigating the mortgage process.
Related Maryland Finance (alternative) Questions
- A Maryland borrower's debt-to-income (DTI) ratio is calculated as:
- Maryland's Department of Housing and Community Development (DHCD) administers the Maryland Mortgage Program, which primarily assists:
- What is the purpose of mortgage insurance (PMI or MIP) in a Maryland home purchase?
- Maryland's law on mortgage fraud makes it illegal to:
- What does the term 'amortization' mean in the context of a Maryland mortgage?
- Maryland's Community Reinvestment Act (CRA) assessment encourages lenders to:
- Maryland buyers who receive gifts for down payments typically must provide the lender with a:
- Under Dodd-Frank's Qualified Mortgage (QM) rule, a Maryland borrower generally cannot have a debt-to-income ratio exceeding:
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →