QUESTION: 33

If the institution offers both full and reduced documentation loans and there is a pricing premium attached to the reduced documentation loan, the consumer should:

Be alerted to this fact
Not be alerted to this fact
Provide consumers with a clear statement of the options available
Not lead consumers with payment option ARMs to choose a non-amortizing or negatively amortizing payment

Answer(s): A

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QUESTION: 33

If the institution offers both full and reduced documentation loans and there is a pricing premium attached to the reduced documentation loan, the consumer should:

Be alerted to this fact
Not be alerted to this fact
Provide consumers with a clear statement of the options available
Not lead consumers with payment option ARMs to choose a non-amortizing or negatively amortizing payment

Answer(s): A

Reveal Solution Next Question