« previous next »

Author Question: Under the TILA, a qualified mortgage (QM) A) limits up-front points and fees to 5 percent. B) limits ... (Read 221 times)

itsmyluck

  • Hero Member
  • *****
  • Posts: 546
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

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 24, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Rinne test: A. Place the base of the tuning fork on the mastoid process. B. Place tuning fork in fro Rinne test: A. Place the base of the tuning fork on the mastoid process. B. Place tuning fork in fro
Cold front Cold front
How to find the slope of a line using any two points How to find the slope of a line using any two points
How to find the equation of a line passing through two points How to find the equation of a line passing through two points
Reconstructed West Front of the Altar from Pergamon (In Present-day Turkey) Reconstructed West Front of the Altar from Pergamon (In Present-day Turkey)
Tepresent three points along a vertebrate axon where electrodes .. Tepresent three points along a vertebrate axon where electrodes ..
Video: Acids and bases - definition

For a complete list of videos, visit our video library