Finance
Seller financing in Oklahoma (when the seller extends credit to the buyer) may be subject to which federal regulation?
ARESPA for all seller-financed transactions
BDodd-Frank Act regulations for seller-financiers who make more than a limited number of loans per year✓ Correct
CFHA underwriting requirements
DVA loan guarantee requirements
Explanation
The Dodd-Frank Act extended certain mortgage lending requirements to seller-financiers who make more than the statutory number of loans per year. Private sellers making occasional loans are exempt, but regular seller-financiers may be subject to mortgage originator requirements.
Related Oklahoma Finance Questions
- A point paid on an Oklahoma mortgage loan equals:
- The loan-to-value (LTV) ratio is calculated as:
- A buyer obtains an FHA-insured loan. Which of the following is a key feature of FHA loans?
- A home equity loan in Oklahoma differs from a HELOC in that it:
- A VA-guaranteed home loan requires the borrower to pay:
- An Oklahoma USDA Rural Development loan is available:
- The Home Mortgage Disclosure Act (HMDA) requires mortgage lenders to:
- An Oklahoma buyer wants to use a 1031 exchange to defer capital gains taxes when selling an investment property. To qualify, the replacement property must be:
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →