Mortgages Flashcards
1
Q
4 characteristics that cause loans to be unfair?
A
1) ARM (Adjustable Rate Mortgages) with 3 year or more intro rate
2) Intro Rate at 3% or higher index rate
3) Poor debt to income ratio
4) Loan to value ratio was at or near 100%.
2
Q
What constitutes as unfair treatment from a loaner?
A
Unsafe and unfair conduct insofar as it leads to an injury.
