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Which statement about a 'Qualified Mortgage' is accurate?
a.A QM guarantees the borrower cannot default
b.A QM eliminates the need to verify income
c.A QM must have a balloon payment
d.A QM provides the lender certain protections from ability-to-repay liability
Giải thích
A Qualified Mortgage is a category of loan that meets specific product and underwriting criteria and, in return, gives the creditor a presumption of compliance (safe harbor or rebuttable presumption) with the ability-to-repay requirement. A QM does not guarantee against default, does not waive income verification, and generally cannot have balloon or risky features.
Trích dẫn luật: Ability-to-Repay/Qualified Mortgage Rule (Reg Z 1026.43)Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
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