California Real Estate Practice Exam

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The commission that a mortgage loan broker may charge is determined by all of the following except

the borrower's credit score.
the amount of the loan.
the type of property mortgaged.
the current interest rate.

The correct answer is: the type of property mortgaged.

A mortgage loan broker may charge a commission, typically called an origination fee, for their services in finding and securing a mortgage loan for a borrower. This fee is usually a percentage of the total loan amount and can vary based on several factors. The borrower's credit score, loan amount, and current interest rate are all factors that can influence the commission amount. However, the type of property mortgaged does not affect the commission amount. This is because the broker's services are not dependent on the type of property but rather on finding a suitable loan for the borrower. Therefore, the type of property mortgaged is not a determining factor in the commission that a mortgage loan broker may charge.