Steering and Targeting Occur When a Lender Manipulates a Borrower

question 41

True/False

Steering and targeting occur when a lender manipulates a borrower into accepting a loan product that benefits the lender but is not the best loan for the borrower.

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Definitions:

Contract

An agreement between two or more parties creating obligations that are enforceable or otherwise recognizable at law.

Assignment

The transfer of rights or property from one party to another, often seen in contracts or similar agreements.

Assignable

Refers to rights or property that can be transferred or made over to another party by the owner.

Antiassignment Clauses

Provisions within contracts that restrict or prohibit the transfer of contract rights to another party.