Which statement is TRUE?

During a boom, asset prices fall and firms have cash flow.

When banks lend to firms, they typically will insist that the firm have some cash on hand, strong assets, and debts greater than assets.

If the borrower defaults, ownership of the collateral remains with the borrower.

When the nominal owner of a property does not have much equity in the property, very often they do not do a good job taking care of the property.