Acc 556 Week 2 Mini Case

We have a judgment against the borrower in the amount of $23,402. Dan Marchese and Elyse Marchese are the two guarantors, and are in process of a divorce. The judgment (plus post judgment interest) is expected to be satisfied from the closing of house by the end of October, 2015.

Because debt financing is used in most if not all RE transactions, mortgages are necessary for eliminating uncertainty; Not only for the borrower but the lender as well. The lender can be certain of what risks are involved and this allows them to determine the risk premium in the interest rate. The borrower benefits immensely from the mortgage as it reduces the cost of borrowing, it details financial rights and obligations, and increases chances of a positive outcome.

day of.................................................................................,20........................after which time if not accepted, this Agreement shall be null and void and all monies paid thereon shall be returned to the Tenant without interest or deduction. 11. NOTICES: Landlord hereby appoints the Listing Brokerage as Agent for the purpose of giving and receiving notices pursuant to this agreement. Only if the Co-operating Brokerage represents the interests of the Tenant in this transaction, the Tenant hereby appoints the Co-operating Brokerage as Agent for the purpose of giving and receiving notices pursuant to this Agreement. Any notice relating hereto or provided for herein shall be in writing. This offer, any counter offer, notice of acceptance thereof, or any notice shall be deemed given and received, when hand delivered to the address for service provided in the Acknowledgement below, or where a facsimile number is provided herein, when transmitted electronically to that facsimile number. FAX No..........................................................(For delivery of notices to Landlord) FAX

Those involved in the mortgage lending process have some duty to the borrower. They are expected to perform their specific duties in an ethical manner and have some form of direct or indirect contact with the

Well, the five essential elements of a certain enforcement contracted are well detailed below, well detailed how they relate to my case above. There are five crucial steps when it comes to contract process. These steps comprise; offer, acceptance as well as consideration, lawful purpose and also capacity of parties.

That's a great question. Please allow me a moment to review your loan file. Thank you for your patience.

Human Resources will contact all new originators and inform them to register in NMLS to comply with the requirements of the SAFE Act and prior to originating loans. Human Resources will start the process (outlined in Appendix B). If the new employee is already registered with NMLS, Human Resources will request the employee to allow access to the originator information (outlined in Appendix C). Once the process has been started by Human Resources, Human Resources will email the new employee. The new employee must go

Please provide clarification with respect to the attached disclosure. Specifically, pursuant to the regulation requirement below and how the disclosure is delivered to the borrower. Is the disclosure delivered via secured email and is there a process in place wherefore you receive confirmation once the borrower is in receipt of the disclosure? Please advise.

The person serving the notice must specify whom the notice is served, name of the place, mode, date and time of serving the notice accurately.

at 204 (quoting Restatement (Second) of Agency § 342, comment b on Subsection (3)); see also Curtis G. Testerman, CI. v. Buck, 340 Md. 569, 576-77 (1995) (“The rule in Maryland is clear that, ‘if an agent fully discloses the identity of his principal to the third party, then, absent an agreement to the contrary, he is insulated from liability.’”) (quoting A.S. Abell Co. v. Skeen, 265 Md. 53, 56, (1972)); King v. Industrial Bank of Washington, 474 A.2d 151, 155 (D.C. 1984) (“The designation of the signer as an agent and the naming of the principal are essential to the avoidance of liability on negotiable and nonnegotiable contracts alike.”); Rittenberg v. Donohoe Const. Co., Inc., 426 A.2d 338, 341 (D.C. 1981) (“Where a principal is disclosed, no liability will fall upon the agent for acts committed by the principal unless he binds himself for same by definite words or stipulation.”); Henderson v. Phillips, 195 A.2d 400, 402 (D.C. 1963) (“When his principal is disclosed . . ., the agent ordinarily does not incur personal liability. The law is well settled that when an agent acts in good faith on behalf of a disclosed principal, he is not held responsible in the event of his principal’s default.”).

The Licensee’s agreements with the Agencies and other investors include representations and warranties require adherence to Agency and other investor origination and underwriting guidelines, including but not limited to the validity of the lien securing the mortgage loan, property eligibility, borrower credit, income and asset requirements, and compliance with applicable federal, state, and local law. In the event of a breach of its representations and warranties, the Licensee may be required to either repurchase the mortgage loans with the identified defects or indemnify the investor or insurer. In such cases, the Licensee bears any subsequent credit loss on the mortgage loans. Nationally, the Licensee was required to repurchase four loans totaling $224,245 during 2015 and 2016. The Licensee has not been required to repurchase any North Dakota loans during the same timeframe.

i. Currently I am in the process of improving my credit to purchase a home. In the past I have been misinformed and mislead by lendors thus adversely affecting my credit. If proposal is adopted, more information about the terms and condition of a loan will be required prior to a contractual agreement.

Notifications may come from newly boarded loans, via quarterly audit, by receiving a copy of the service member’s orders, or by receiving a request for mortgage payment relief under SCRA.

Lender – is the financial institution that approves the borrower loan application in order to acquire the home. In most cases the lenders are the financial victims.

Any time an enterprise guarantees the indebtedness of another in material amounts, the enterprise must disclose the nature and amount of the guarantees in the notes to the financial statements. When Enron's SPEs sought credit, the lenders often required that Enron guarantee the debt. On several occasions, Enron guaranteed amounts that various SPEs borrowed by promising to pay cash or to issue additional common shares to repay the debt if the market price of Enron's common shares dropped under a set amount or if Enron's bond rating fell below investment grade. While the notes to Enron's financial statements disclosed guarantees of the indebtedness of others, Enron did not mention that its potential liability on those guarantees, which shared common debt