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Author Question: Describe the main factors in the creation of the recent subprime lending ... (Read 31 times)

captainjonesify

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on: Jun 24, 2018
Describe the main factors in the creation of the recent subprime lending situation.

Question 2

What is the difference between employee status and independent contractor status?
 A) The only difference is that the independent contractor is an agent with additional authority.
 B) The difference is that one is an agent and one is not.
 C) The difference is that independent contractors need not pay Social Security taxes.
 D) None of the above


randomguy133

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Reply #1 on: Jun 24, 2018
Answer to Question 1

Greed motivated the lenders to make mortgage loans available to unqualified or under-qualified borrowers who were riskier to lend to than usual borrowers. The interest rates started low and increased through the life of the loan, or if a payment was missed. Little or no down-payment was required, and some lenders loaned at more than 100 of the value of the property. The details of these loans were not well disclosed to many borrowers who did not fully understand the risks involved in these loans.

Answer to Question 2

D


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captainjonesify

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Reply #2 on: Jun 24, 2018
Thank you


randomguy133

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Reply #3 on: Jun 24, 2018
No problemo


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