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Author Question: Under the TILA, a qualified mortgage (QM) A) limits up-front points and fees to 5 percent. B) limits ... (Read 222 times)

itsmyluck

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on: Jun 24, 2018
Under the TILA, a qualified mortgage (QM)
 A) limits up-front points and fees to 5 percent.
 B) limits all of a borrower's debt to 43 percent of his or her income.
 C) allows balloon payments only if the borrower agrees up front.
 D) must allow for interest only periods.

Question 2

The maximum rate of interest for credit transactions is established by
 A) state law.
 B) federal law.
 C) the Federal Reserve Board.
 D) the FTC.


xoxo123

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

B

Answer to Question 2

A


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