Fact Pattern 31-1A (Questions A12-A14 Apply)

question 13

Multiple Choice

Fact Pattern 31-1A (Questions A12-A14 apply)
24-Hour Credit Corporation issues high-cost and high-fee mortgage products to people,including Benny,who could not easily obtain credit under other loan programs.
-Refer to Fact Pattern 31-1A.24-Hour Credit assigns Benny's loan to Consolidated Mortgage Investment Corporation.For most purposes,Consolidated

• A)acquires the status of a holder in due course (HDC).
• B)has more protection than a mortgage assignee but less than an HDC.
• C)is exempt from federal law with respect to mortgages.
• D)is subject to claims that Benny could assert against 24-Hour Credit.

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