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Author Question: Which federal agency is now responsible for mortgage disclosure requirements and mortgage ... (Read 92 times)

Destiiny22

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on: Jun 24, 2018
Which federal agency is now responsible for mortgage disclosure requirements and mortgage qualification rules?
 A)The Federal Reserve Board
 B)Fannie Mae
 C)The Federal Trade Commission
 D)The Consumer Financial Protection Bureau

Question 2

Discuss the differences in the creation and operation of the fee simple determinable and fee simple subject to a condition subsequent.


nixon_s

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Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

Determinable: uses language such as while, so long as, or for the time. Upon violation of restriction, the estate terminates automatically and reverts to grantor.
Condition subsequent: uses language such as provided, on the condition that, if and only if, or but. Upon violation of restriction, interest terminates only if grantor reenters the property and makes a claim for violation of the restriction.


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