A Lender Can Make a Higher-Priced Mortgage Loan Based on the Value

question 8

True/False

A lender can make a higher-priced mortgage loan based on the value of the consumer's home without verifying the consumer's ability to repay the loan.

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Definitions:

Photographic Memory

A rare ability to recall images, sounds, or objects in great detail after only a few instances of exposure, without using mnemonics.

Classical Conditioning

A type of learning in which we link two or more stimuli; as a result, to illustrate with Pavlov’s classic experiment, the first stimulus (a tone) comes to elicit behavior (drooling) in anticipation of the second stimulus (food).

Implicit Memories

Memories that are not consciously recalled but influence behaviors and knowledge, such as procedural memory for tasks.

Echoic Memory

A subtype of sensory memory that retains auditory information, allowing sounds to be remembered for a short period after they are heard.