Guidelines for National Banks to Guard Against Predatory and Abusive

question 247

Multiple Choice

Guidelines for National Banks to Guard against Predatory and Abusive Lending Practices-AL-2003-2 says that refusing to purchase the following types of loans can reduce the possibility of purchasing abusive mortgage loans EXCEPT:

• A) Loans in which the lender has not adequately determined the borrower's ability to repay the debt
• B) Loans subject to the Home Ownership and Equity Protection Act (HOEPA)
• C) Loans with points and fees in excess of 5 percent of the loan amount, except in cases where the higher amount was to prevent the loan from being unprofitable
• D) Loans in which a prepaid multiple-premium credit insurance policy was included in the amount financed

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