CALIFORNIA REAL ESTATE STATE EXAM QUESTIONS HELP!

Is the assessed tax rate done annually or bi/annually in California?
Can a broker that represent the seller and the buyer( but the parties are not aware of it) get commissions from both parties? If so , any requirements?
After receiving a deposit, how many days does the broker have to deposit it in the trust founds?
Is the credit report fee included in the loan fees?
Whats the difference between a mortgage broker and a mortgage banker?
PLEASE HELP THOSE ARE THE QUESTIONS I DID NOT KNOW AND I FAILED AND RETAKING IT TOMORROW!
(0) | asked by: katia Pisani | share | 1 week ago | Report
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answer by Rich Reed    |   Visit My Website   |   Contact Me
Hi Katia, 1) annually. 2) no, disclosure of dual agency must be made to all parties. 3) not later than three business days following receipt of the funds. 4) credit report fees and loan fees are both included in the TRID Loan Estimate Disclosure. 5) A mortgage banker works for a bank or similar lending institution which actually provides you the money for the loan. A mortgage broker doesn't represent one institution, but works with many to shop for a loan for a specific individual. Good luck on your test!
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