13-61 Up-Front Fees Are Charged as a Certain Percentage of

question 80

Multiple Choice

13-61 Up-front fees are charged as a certain percentage of

• A)commitment size.
• B)loan taken down.
• C)utilized portion of commitment size.
• D)unused portion of commitment size.
• E)interest payable on the loan commitment.

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Definitions:

Notary Public

An official appointed by the government to serve as an impartial witness in the signing of important documents to deter fraud.

Paralegal Functions

Tasks performed by paralegals or legal assistants, including legal research, document preparation, and client interviews, under the supervision of an attorney.

Affidavit

A textually recorded claim, authenticated by swearing or affirming, to be employed as evidence within judicial contexts.

Prayer For Relief

A formal request made to a court by a party in a lawsuit, seeking a specific type of assistance, compensation, or remedy.