In Order to Ensure That Borrowers Have an Ability to Repay

question 4

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.

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