Finance
A Washington lender who discovers after loan closing that the borrower misrepresented their income may:
ADo nothing because the loan has already closed
BAccelerate the loan and demand immediate full repayment✓ Correct
COnly reduce the interest rate
DFile a claim with the title insurance company
Explanation
A lender who discovers material misrepresentation on a loan application (mortgage fraud) may have legal grounds to accelerate the loan (call it due), pursue criminal charges against the borrower, or seek to rescind the transaction.
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