David Saks' Blog

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Industry Observer - TN LIC# 290452
David Saks is a musician, retired real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2011 

                                                       #1070 This phrase, "If you have great credit your could get great loan terms", would red flag the requirement under the Truth In Lending Act or TILA. True or False ? Take your time. The solution is posted below the wildlife photo. A. False Th...
03/27/2011
                                                          #1069 A federal law that prohibits lenders from making high cost predatory home equity loans is known as Equal Credit Opportunity Act or the ECOA. Is this fact true or false ? Please take your time. The solution is below the wildlife photo...
03/27/2011
                                                       #1068 Loan flipping is prohibited under the Real Estate Settlement Procedures Act. Is this fact true or false ? Please take your time the solution is posted below the wildlife photo. A. False The Real Estate Settlement Procedures Act or RESPA...
03/27/2011
                                                             #1067 Wmen we talk about an impound waiver we're discussing a practice that involves charging points or processing fees that are out of the ordinary. Is this fact true or false ? Please take your time. The solution is posted below the w...
03/27/2011
                                                      #1066 Steering involves charging a borrower processing fees or points to close that a re higher than usual because the lender is steering the borrower away from a conventional loan. Is this fact true or false ? Please take your time. The solut...
03/27/2011
                                                         #1065 A loan secured by a fleet of tractors to purchase additional farm equipment would be covered under the Truth In Lending Act. Is this fact true or false ? Please take your time. The solution is posted below the wildlife photo. A. False...
03/27/2011
                                                         #1064 Property flipping will involve the charging of processing fees that are not necessary for the services provided by the lender. Is this true or false ? Please take your time. The solution is posted below the wildlife photo. A. False Fe...
03/27/2011
                                              #1063 Fee Packing is a predatory lending practice which imposes the practice of charging points and fees for processing a loan that are out of the ordinary and higher than normally charged. These are fees that have no reason to be included in the proc...
03/27/2011
                                                  #1062 An unsecured loan for 50 thousand dollars would be covered by the Truth In Lending Act. Is this fact true or false ? Please take your time. The solution is below the wildlife photo. A. False The Truth In Lending Act excludes consumer loans n...
03/27/2011
                                                  #1061 Another purpose of the HOme Mortgage Disclosure Act is to insure that a person, whose income is derived from public assistance, is not discriminated against. Is this fact true or false ? Please take your time. The solution is posted below th...
03/27/2011
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David Saks

Broker / Industry Analyst
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Most real estate fraud-related articles and Department of Justice Press Releases published here are taken from the public record, which normally include press releases and court documents related to each entry and case. Any other type of record, i.e. newspaper reports, are only published after consent has been obtained from the original publisher.
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