Đạo đứcCâu 338 / 400
A fraudster creates a completely fictitious borrower and property that do not exist, then obtains loan proceeds. This scheme is known as:
a.An air loan
b.A permissible bridge loan
c.A gift of equity
d.A rate-and-term refinance
Giải thích
An 'air loan' is a fraud in which the borrower, property, and sometimes the entire transaction are fabricated to extract loan proceeds. A bridge loan, a gift of equity, and a rate-and-term refinance are all legitimate, real transactions, not fabrications.
Trích dẫn luật: Mortgage fraud (air loan)Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Which loan feature, when combined with a borrower who clearly cannot afford it, is a hallmark of predatory lending?
- A borrower qualifies for both a lower-cost conventional loan and a higher-cost product that pays the originator more. Ethically, the originator should:
- Under ECOA, discrimination is prohibited in:
- Which statement about mortgage advertising is TRUE?
- A lender's policy is to reject all applicants whose income comes from a housing voucher or public assistance, regardless of amount or reliability. This policy:
- When income fraud leads a borrower into a loan they truly cannot afford, the MOST directly harmed party is often:
Cập nhật gần nhất: · quy trình kiểm tra
Đội Ngũ Biên Tập PrepPass · Đối chiếu với NMLS SAFE Mortgage Loan Originator National Test · Quy trình kiểm tra