In a Texas VA loan transaction, all of the following are responsibilities of the Texas license holder EXCEPT:
Correct Answer
B) Determining the veteran's VA loan entitlement and calculating the maximum loan amount the veteran can qualify for
Determining VA loan entitlement and calculating maximum loan amounts is the responsibility of the lender and the VA, not the license holder. License holders in Texas are prohibited from performing lending functions and should refer clients to qualified lenders for financing details.
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The secondary mortgage market is where existing mortgage loans are bought and sold between lenders, investors, and government-sponsored enterprises (GSEs) like Fannie Mae, Freddie Mac, and Ginnie Mae.
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