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6 December 2022 | 173 replies
Definitions.As used in this chapter, unless the context otherwise requires:(1) "Advance fee" means any consideration which is assessed or collected, prior to the closing of a loan, by a loan broker.(2) "Borrower" means a person obtaining or desiring to obtain a loan of money, a credit card, or a line of credit.(3) "Department" means the Department of Consumer Affairs.(4) "Loan broker" means any person who:(a) for or in expectation of consideration arranges or attempts to arrange or offers to fund a loan of money, a credit card, or a line of credit;(b) for or in expectation of consideration assists or advises a borrower in obtaining or attempting to obtain a loan of money, a credit card, a line of credit, or related guarantee, enhancement, or collateral of any kind or nature;(c) acts for or on behalf of a loan broker for the purpose of soliciting borrowers; or(d) holds himself out as a loan broker.A "loan broker" does not include any bank or savings and loan association, trust company, building and loan association, credit union, consumer finance company, retail installment sales company, securities broker-dealer, real estate broker or salesperson, attorney, Federal Housing Administration or Veterans Administration approved lender, credit card company, installment loan licensee, mortgage loan broker registered under Chapter 58, Title 40 and acting within the scope of its certificate of registration, or insurance company, who is licensed by and subject to regulation or supervision of any agency of the United States, the South Carolina Board of Financial Institutions, or other agency of this State and is acting within the scope of the license; and also does not include subsidiaries of licensed or chartered consumer finance companies, banks, or savings and loan associations.(5) "Principal" means any officer, director, partner, joint venturer, branch manager, or other person with similar managerial or supervisory responsibilities for a loan broker.HISTORY: 1992 Act No. 452, Section 1, eff June 15, 1992.SECTION 34-36-20.
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17 March 2020 | 136 replies
It's actually the exercise price of the option * 100 per contract.Example: You sell a 200$ put option on Apple for 1$.
23 November 2019 | 7 replies
I'll definitely exercise these options on the next buyer.
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6 November 2018 | 20 replies
Although it is rare that a homeowner redeems the property, a mortgagee or other lienholder may also exercise a right of redemption.
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25 October 2016 | 4 replies
Does one have particular endorsements or enhancements or special coverages that the other lacks?
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1 November 2016 | 2 replies
If the bank did decide to exercise the due on sale clause, the seller would have to pay off the mortgage or get foreclosed on, or your friend could buy the house outright for what is owed on it via cash or new mortgage.
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17 November 2016 | 15 replies
Once you obtain excellent management, they can(and will) assist you in your expansion, by lowering your time requirements, enhancing profitability, and increasing the equity in your properties.I think the solution to this quandary is to change your parameters a bit.
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1 December 2016 | 3 replies
Did you not read the lease you gave to your tenant The right of first refusal is not that uncommon and if your tenant does not want to exercise the right the buyer can proceed, either way you have a sale of your property
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15 December 2016 | 7 replies
It was a platform that I felt I could grow with, is dedicated to great customer support, and is continuing to enhance its offering.
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9 December 2016 | 31 replies
Misrepresentation/omission.Actions constituting misrepresentation or omission, or both, include: Using "bait and switch" tactics by advertising or offering real property for sale or rent with the intent not to sell or rent at the price or terms advertised, unless the advertisement or offer clearly states that the property advertised is limited in specific quantity or for a specified time period and the licensee did in fact have at least that quantity for sale or rent at that price or terms at the time of advertising;Failure by a licensee representing a seller or landlord as a standard agent to disclose in a timely manner to a prospective purchaser or tenant all material adverse facts pertaining to the physical condition of the property which are actually known by the licensee;Failing as a licensee to tender promptly to the buyer and seller every written offer, every written counteroffer, and every written rejection to purchase, option or lease obtained on the property involved;Failure by a licensee acting as an agent to disclose in a timely manner to the licensee's client all material facts related to the property or concerning the transaction when the failure to so disclose would constitute failure by the licensee to exercise ordinary care as defined in the brokerage agreement; I guess it varies from region to region, but I figured things like this would be standard.