QUESTION: 20

Which of the following usually comes under the heading of abusive lending?

Abusive lending usually is defined by a variety of lending practices
It is the excessive and hidden fees in the amount financed
A fundamental characteristic is aggressive marketing of credit to prospective borrowers who cannot repay it on the terms offered
Typically, such loans are underwritten on the liquidation value of the collateral rather than the creditworthiness of the borrower

Answer(s): A,C,D

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QUESTION: 20

Which of the following usually comes under the heading of abusive lending?

Abusive lending usually is defined by a variety of lending practices
It is the excessive and hidden fees in the amount financed
A fundamental characteristic is aggressive marketing of credit to prospective borrowers who cannot repay it on the terms offered
Typically, such loans are underwritten on the liquidation value of the collateral rather than the creditworthiness of the borrower

Answer(s): A,C,D

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QUESTION: 20

Which of the following usually comes under the heading of abusive lending?

Abusive lending usually is defined by a variety of lending practices
It is the excessive and hidden fees in the amount financed
A fundamental characteristic is aggressive marketing of credit to prospective borrowers who cannot repay it on the terms offered
Typically, such loans are underwritten on the liquidation value of the collateral rather than the creditworthiness of the borrower

Answer(s): A,C,D

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is frequent refinancing that do not benefit the borrower. This practice can result in borrower injury from the fees imposed and from the fact that it decreases home equity and increases the consumer's debt burden, thus increasing the chance of foreclosure.

Loan flipping
Loan refinancing
Securitization
Subprime loans

Answer(s): A

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QUESTION: 20

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