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Author Question: A lender has designated a raciallyintegrated neighborhood as one in which loans will be made for a ... (Read 54 times)

arivle123

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on: Jun 24, 2018
A lender has designated a raciallyintegrated neighborhood as one in which loans will be made for a maximum of only 50 of the appraised value. The lender claims the area is highrisk and hence the 50 reduction is necessary to assure adequate loan security. Is the lender correct or has the lender committed an illegal act?

Question 2

A government survey description requires a reference to a guide meridian.
  Indicate whether the statement is true or false


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jlaineee

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

The lender cannot make a general designation of a bad area, but must review each application and appraisal on its own.

Answer to Question 2

FALSE


arivle123

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

lindahyatt42

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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