Finance
Predatory lending practices include which of the following?
ARequiring a standard down payment
BCharging excessive fees, loan flipping, and equity stripping✓ Correct
CProviding a Loan Estimate within 3 business days
DRequiring PMI for loans under 80% LTV
Explanation
Predatory lending involves abusive practices such as excessive fees, loan flipping, equity stripping, and placing borrowers in loans they cannot afford, often targeting vulnerable populations.
Related Indiana Finance Questions
- Amortization refers to:
- In Indiana, a USDA Rural Development loan is designed for:
- The Good Faith Estimate (GFE) was replaced in 2015 by which document under TRID rules?
- In Indiana, a deficiency judgment after a foreclosure sale can be pursued against the borrower for:
- Private Mortgage Insurance (PMI) is typically required on conventional loans when the LTV exceeds:
- The CFPB (Consumer Financial Protection Bureau) regulates which Indiana mortgage-related activities?
- Under the Community Reinvestment Act (CRA), Indiana banks are evaluated on lending performance in all of the following EXCEPT:
- An Indiana seller who takes back a purchase money mortgage is acting as:
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →