A subprime mortgage refers to a mortgage securing a loan that is issued:
A) to consumers at an interest rate lower than the prime interest rate established by the treasury.
B) on property that cannot pass a reasonable safety inspection.
C) to customers with excellent creditworthiness at a lower than ordinary market rate.
D) to consumers who do not qualify for ordinary market rates due to a lack of creditworthiness.
E) to consumers with excellent creditworthiness at a zero rate of interest.
Correct Answer:
Verified
Q55: Which of the following is true about
Q56: Although the Equal Credit Opportunity Act protects
Q57: Under the FCRA, an injured consumer may
Q58: Which of the following is included in
Q59: Which of the following statements holds true
Q61: Shauna is delinquent on her car loan
Q62: The Consumer Financial Protection Bureau applies to:
A)
Q63: Which of the following is considered a
Q64: Explain the concept of corrective advertising.
Q65: The Magnuson-Moss Warranty Act applies to all
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents