189 terms across 19 subjects
New York Real Estate Exam Glossary
This glossary defines 189 terms you need for the New York real estate salesperson exam, organized by the 19 subjects of the Department of State's 77-hour course. Each term opens into a short guide with a one-sentence definition, how the idea shows up in exam questions, an example, the trap students fall for and links to the official source.
How to use this glossary
Read the one-line definition first. Then open the term for the exam cue, an example and the trap that costs students points.
Filter by topic Mortgage brokerage
3 terms in Mortgage brokerage beginning with M
Showing 1 to 3
M
Mortgage brokerage
Mortgage banker
A mortgage banker is a person or entity in the business of making mortgage loans with its own funds or a credit line, subject to applicable licensing or exemption rules.
Open term guideMortgage brokerage
Mortgage broker
A mortgage broker is a person or entity registered in New York to solicit, process, place or negotiate mortgage loans for others, without funding the loans itself.
Open term guideMortgage brokerage
Mortgage loan originator
A mortgage loan originator (MLO) is an individual who, for pay or expected gain, takes residential mortgage applications or offers or negotiates residential mortgage terms.
Open term guide