Đạo đứcCâu 291 / 400
A family exaggerates their income slightly so they can qualify to buy a home they intend to live in. This is generally categorized as:
a.Fraud for profit
b.Not fraud at all, since they will live there
c.Fraud for housing (property)
d.Predatory lending
Giải thích
Fraud committed by borrowers to obtain a home they intend to occupy is 'fraud for housing (property).' Fraud for profit is committed by insiders/rings to extract money, it remains fraud even if they occupy the home, and predatory lending is misconduct by a lender, not a borrower misrepresentation.
Trích dẫn luật: Mortgage fraud (fraud for property vs. profit)Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A loan officer pressures an appraiser to 'hit' a value $40,000 higher than comparable sales support, so the loan will close. This is best described as:
- A fraudster uses a stolen Social Security number and driver's license to apply for a mortgage in someone else's name without their knowledge. This type of fraud is:
- In a fraud-for-profit scheme involving inflated appraisals and quick resales (flipping), who is typically harmed?
- Which of the following is a classic red flag for possible mortgage fraud on an application?
- A file shows the same phone number for the borrower, the seller, and the appraiser, and the sale price is far above the neighborhood. These facts most likely indicate:
- Which of the following is NOT a prohibited basis for discrimination under the Equal Credit Opportunity Act (ECOA)?
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