Question: Question 1 & Explain Answer Please A borrower was offered a home loan of $100,000 with an interest rate of 3%. All appropriate forms and

Question 1 & Explain Answer Please

A borrower was offered a home loan of $100,000 with an interest rate of 3%. All appropriate forms and disclosures were utilized. This would be an example of predatory lending if the loan required the borrower to

A - repay the loan in 15 years.

B - make payments every other week.

C - pay a prepayment penalty of 20% of the balance.

D - submit all payments in United States currency.

Question 2

Interest rates charged by banks in the primary market are most likely a result of the actions of which agency?

A - Consumer Financial Protection Board

B - HUD (for FHA and VA loans)

C - Federal Reserve Board

D - Fannie Mae

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