Đạo đứcCâu 341 / 400
When income fraud leads a borrower into a loan they truly cannot afford, the MOST directly harmed party is often:
a.The fraud ring only
b.No one, if home prices rise
c.Only the federal government
d.The borrower, who faces default and potential foreclosure
Giải thích
Income fraud that places a borrower in an unaffordable loan most directly harms that borrower, who risks default and foreclosure, along with the lender. It is false that no one is harmed if prices rise, that only the government suffers, or that only the fraud ring bears the consequences.
Trích dẫn luật: Mortgage fraud (who is harmed)Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A fraudster creates a completely fictitious borrower and property that do not exist, then obtains loan proceeds. This scheme is known as:
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- Which entity is primarily responsible for enforcing the federal Fair Housing Act?
- The main purpose of the Loan Originator Compensation Rule is to:
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