A sub-prime loan is a loan extended to borrowers
A) at a subsidized interest rate below the prime rate normally offered to the most creditworthy borrowers.
B) with blemished credit or limited documentation of their income, employment history, and other indicators of credit worthiness.
C) seeking a 30-year, fixed rate mortgage.
D) who have a FICO score above 660.
Correct Answer:
Verified
Q3: Since 1995, federal regulations have
A) tightened mortgage
Q4: Which of the following contributed to the
Q5: Between 2001 and 2005, sub-prime (including Atl-A)
Q6: Fannie Mae and Freddie Mac's rapid increase
Q7: The mortgage default rate is
A) the percentage
Q9: When housing prices fell during 2007, the
Q10: During 1979-2005, the mortgage default rate
A) was
Q11: Which of the following accurately describes the
Q12: As short-term interest rates began to rise
Q13: Which of the following was the result
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