Which of the Below Statements Is FALSE

question 38

Multiple Choice

Which of the below statements is FALSE?

• A) A seasoned loan is one that is already residing on the balance sheet of a bank or insurance company.
• B) Responsibilities of the servicer include collecting monthly loan payments, keeping records relating to payments, and maintaining property escrow for taxes and insurance.
• C) Responsibilities of the master servicer include overseeing the deal and verifying that all servicing agreements are being maintained.
• D) Basically the objective of the master service is to maximize the recovery of defaulted loans.

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Definitions:

Appeal

The process of seeking a higher court's review of a lower court's decision in hopes of reversing or modifying the outcome.

Appeal Court

A higher court that reviews the decision and results of a lower court when a party claims an error was made during the decision-making process.

Jurisdiction

The official power to make legal decisions and judgments, often within a specific geographic area or over certain types of cases.

Superior Trial Court

A higher level court that handles appeals and major cases, often with broad jurisdiction over civil and criminal matters.