QUESTION: 16

Subprime borrowers are those with weakened credit histories or reduced repayment capacity. Loans to these borrowers historically have had a higher delinquency rate. Many lenders have expanded their lending programs and added subprime products as a method by providing greater credit access to lower-income of meeting their
consumers.

Community Reinvestment Act (CRA) responsibilities
Fraudulent marketing tactics
FTC Act
Predatory Lending

Answer(s): A

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QUESTION: 16

Subprime borrowers are those with weakened credit histories or reduced repayment capacity. Loans to these borrowers historically have had a higher delinquency rate. Many lenders have expanded their lending programs and added subprime products as a method by providing greater credit access to lower-income of meeting their
consumers.

Community Reinvestment Act (CRA) responsibilities
Fraudulent marketing tactics
FTC Act
Predatory Lending

Answer(s): A

Reveal Solution Next Question

QUESTION: 16

Subprime borrowers are those with weakened credit histories or reduced repayment capacity. Loans to these borrowers historically have had a higher delinquency rate. Many lenders have expanded their lending programs and added subprime products as a method by providing greater credit access to lower-income of meeting their
consumers.

Community Reinvestment Act (CRA) responsibilities
Fraudulent marketing tactics
FTC Act
Predatory Lending

Answer(s): A

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QUESTION: 17

The banking agencies issued two guidances to caution depository institutions about risks involved in funding non-depository lenders that engage in predatory lending. Predatory and abusive practices include:

High-pressure sales
Excessive fees and interest rate including fees for unnecessary products
Balloon payments that may never cause foreclosures
Excessive refinancing with fees included in the new loan

Answer(s): A,B

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Free CRCM Exam Braindumps (page: 13)

QUESTION: 16

QUESTION: 16

QUESTION: 16

QUESTION: 17

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