a. a. Fiduciary Duty Overview & Examples | What is a Fiduciary Duty? The statement is FALSE. Do not use any assumption, principle or constraint more than once. Additionally, the agent has an obligation to perform tasks that will not intentionally harm the principal. b. Here are the main issues she pointed out: Thompson noted that fees would increase for buyers in some categories and decrease for those in others, but that "[t]he updated fees, as was true of the prior fees, generally increase as credit scores decrease for any given level of down payment." The answer is PROPERTY IS LOCATED IN A FLOOD ZONE AREA THAT REQUIRES FLOOD INSURANCE COVERAGE. over the nature and terms of employment with very little discretion given to the employee: Identify the statement that does not correctly present the fiduciary relationship that is said to. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. 2023. Jim Parrott, nonresident fellow at the nonprofit research organization Urban Institute, and Janneke Ratcliffe, vice president for housing finance policy at the institute, wrote: "Some have suggested that the decline in fees for borrowers who put down a smaller down payment shows that FHFA is overcharging those who pose less risk to the government-sponsored enterprises (GSEs) so that it can undercharge those who pose more risk. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. "Fannie Mae and Freddie Mac's New Pricing Is Not Punishing Those with Better Credit: Follow the Numbers." The brokerage relationship exists between the brokerage company and the seller. Experts in the real estate industry say people of color, in particular,"face major homebuying challenges.". Higher-credit-score borrowers are not being charged more so that lower-credit-score borrowers can pay less. Which sociological perspective is most aligned with the relativity of deviance? Structural functionalist B. In the first place, the seller must know in advance through the disclosure paperwork that will inform about the process they will develop and after knowing this information the seller could sign the listing agreement with the agent. https://ami-lookup-tool.fanniemae.com/amilookuptool/. 2023. Some updated fees [] do not represent pure decreases for high-risk borrowers or pure increases for low-risk borrowers. Accessed 27 Apr. Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed various community and nonprofit organizations. In simple cases, the principal within the relationship is a sole individual who assigns an agent to carry out a task; however, other relationships under this guise have a principal that is a corporation, a nonprofit organization, a government agency or a partnership. 2023. Set a price that allows the minimum number of units to be sold at the highest unit price c. Set a price that will maximize revenues d. Set a pri. A principal is a party who gives legal authority to another to act on his or her behalf in business transactions. Learn the definitions of agency theory, agent, and principal. Dealing honestly and fairly and accounting for all funds apply to all three disclosure relationships. A) Theory of comparative advantage. While at work one day, Wilma orders 500 rawhide bones from Rusty's Rawhide. I feel like its a lifeline. (b) Explain the difference between the voting interest model and the risk and reward model. Why? The going concern concept assumes that the business will continue for the foreseeable future. The agent is obligated to act in the best interests of the principal because the agent's actions will create legal obligations for the principal. The FHFA's updated housing finance plans are an effort to mitigate these disparities, the agency says. According to theNational Association of Realtors, the home ownership rate"among Black Americans lags significantly (44%), has only increased 0.4% in the last 10 years and is nearly 29 percentage points less than White Americans (72.7%), representing the largest Black-White homeownership rate gap in a decade." An agency relationship is a fiduciary relationship. why are the income source rules important to a u.s. citizen or resident? An example is someone hiring a contractor to do improvements to their house. Responsibilities of a Business' Community Relations Department, Rights of a Beneficiary: Vesting & Enforceable Claims.
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