The utilization of a non-certified or non-licensed appraiser in connection with a federally related mortgage transaction can result in what fine for the first and subsequent violations:
A) $25,000; $50,000
B) $20,000; $40,000
C) $30,000: $45,000
D) $15,000; $30,000
Correct Answer:
Verified
Q5: FIRREA mandates:
A) that State-Certified or licensed appraisers
Q6: 13-18.The origination,servicing,and sale of mortgage loans by
Q7: Flood insurance is required for properties located
Q8: 13-19.For mortgage bankers two principal sources of
Q9: 13-10.The following is NOT a step in
Q11: 13-14.A program under which the lender essentially
Q12: 13-17.Recording is necessary to protect the owner
Q13: Under the FIRREA,for appraising federally related transactions,each
Q14: A review appraiser considers several important elements
Q15: 13-11.The method based on the premise that
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