Finance
In Missouri, 'predatory lending' practices that violate TILA, HOEPA, and other laws include:
AStandard origination fees
BExcessive fees, steering borrowers into high-cost loans, negative amortization, and prepayment penalties that trap borrowers✓ Correct
CRequiring mortgage insurance
DRequesting a down payment
Explanation
Predatory lending involves deceptive, unfair, or abusive loan terms. Common practices include excessive origination fees, steering qualified borrowers to high-cost loans, balloon payments with unrealistic refinancing assumptions, and prepayment penalties that prevent refinancing.
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