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:

Learned Predisposition

An acquired tendency to respond in a consistent way to a given object or entity, shaped by experiences, attitudes, and culture.

Attitude

A learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way.

Intelligent Parking Assist

A technology that aids drivers in parking their vehicles by using sensors and cameras to guide the vehicle into a parking spot.

Changing Beliefs

The process of altering or adapting one’s convictions or perceptions, often as a result of new information, experiences, or persuasive arguments.