Mortgages Issued to Borrowers Who Fail to Document That Their

question 130

Multiple Choice

Mortgages issued to borrowers who fail to document that their incomes are high enough to afford their mortgage payments are known as ________ mortgages.

• A)subprime
• B)Alt-A
• C)gray market
• D)reciprocal

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Definitions:

Veto

The constitutional right to reject a decision or proposal made by a law-making body. It is often used by the president or head of state in many countries.

Richard Nixon

The 37th President of the United States (1969–1974), known for his foreign policy achievements and the Watergate scandal that led to his resignation.

Environmental "Superfund"

A program established by the United States government in 1980 to address hazardous waste sites and to clean up environmental contamination.