Which of the Following Is (Are) True About Nonconforming Mortgage

question 78

Multiple Choice

Which of the following is (are) true about nonconforming mortgage loans?

• A) They are also known as subprime loans.
• B) They have higher default risk than conforming loans.
• C) They were able to be offered without due diligence.
• D) All of the options are true.

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Definitions:

Carrier

An individual or entity that transports or conveys substances, signals, or conditions. In genetics, it refers to someone who has one copy of a gene mutation but does not exhibit disease symptoms.

Genetic Disorder

A condition caused by abnormalities in an individual's DNA, leading to physical or physiological issues.

Diet

The variety and amount of food and drink consumed by a person, which can impact health, weight, and well-being.

PKU

Short for Phenylketonuria, a genetic disorder resulting from the body's inability to break down the amino acid phenylalanine, potentially leading to intellectual disability if untreated.