Question: A non-conforming mortgage: A. cannot be used as collateral in a mortgage-backed security B. does not satisfy the underwriting standards for inclusion as collateral for

A non-conforming mortgage:

A. cannot be used as collateral in a mortgage-backed security

B. does not satisfy the underwriting standards for inclusion as collateral for an agency residential mortgage-backed security.

C. does not give the lender a claim against the borrower for the shortfall between the amount of the outstanding mortgage balance and the proceeds from the sale of the property in the event that the borrower defaults on the mortgage.

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