Which of the following is not a correct description of qualified mortgages?
A) They must comply with regulations issued by the Consumer Financial Protection Bureau.
B) Their term cannot exceed 30 years.
C) They cannot be interest-only mortgages or result in negative amortization.
D) They must be retained by the lending institution that originated the mortgages and cannot be sold.
E) They place limits on the borrower's debt-to-income ratio.
Correct Answer:
Verified
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