Question: true or false 14. With every Constant Payment Mortgage (CPM )the effective costs of borrowing are higher than the stated rate of the loan. 15.

true or false

14. With every Constant Payment Mortgage (CPM )the effective costs of borrowing are higher than the stated rate of the loan. 15. Truth-in-lending requires the borrower to tell the truth on the loan application. 16. The annual percentage rate, disclosed at the loan closing, closely approximates the borrower's true cost of funds. 17. Prepayment penalties increase the lender's mortgage yield and discount points decrease it. 13 g o DELL F11 F12 Pris

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