In Order to Ensure That Borrowers Have an Ability to Repay

question 79

Multiple Choice

In order to ensure that borrowers have an ability to repay residential mortgages,the new consumer protection legislation requires lenders to do all of the following except

• A) verify the income of the borrower.
• B) verify the borrower's job status.
• C) check the credit history of the borrower.
• D) verify that the borrower can read and understand a loan contract.