Many states have imposed additional steps for making loans in the ...

[DyllonKazuo]

Many states have imposed additional steps for making loans in the subprime lending market.
  Indicate whether the statement is true or false

Question 2

Frank is an agent for private home owners wishing to locate tenants to lease their homes. Frank's duties include advertising for tenants, processing the paperwork for the lease, collecting the rent payment from the tenants and issuing the proceeds to the owners, and serving as a conduit for messages. Near the end of his one year contract with home owners John and Becky Ward, Frank tells the tenants that the Wards are going to evict them. In reality, the Wards have no intentions of evicting the Wards. Frank convinces the Wards to move out early, saving themselves the embarrassment of eviction, but forfeiting their security deposit (which Frank conveniently holds in escrow.) What fiduciary duties has Frank violated?

[Benayers]

Answer to Question 1

TRUE

Answer to Question 2

Frank has probably violated all the fiduciary duties (and broken a few laws too) He has definitely been disloyal and not trustworthy. He did not obey the principles' wishes, and did not use prudent care. In fact, this situation actually happened, and Frank ended up in prison for fraud and theft. He told the Wards that he had refunded the security deposit to the tenants (and had no forwarding address for them, so the Wards could not verify this), but had actually kept the deposit himself. And the house was trashed... a good warning to be careful who you give agency power to