A borrower has committed fraud if they: A) receive gift money from a family member as down payment for a purchase loan. B) intend to occupy a property as their primary residence for a reverse mortgage loan. C) borrow the down payment from the seller through a non-disclosed second mortgage. D) inform the mortgage loan originator that they will be changing jobs before the loan closes.

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Question
A borrower has committed fraud if they:
A) receive gift money from a family member as
down payment for a purchase loan.
B) intend to occupy a property as their primary
residence for a reverse mortgage loan.
C) borrow the down payment from the seller
through a non-disclosed second mortgage.
D) inform the mortgage loan originator that they
will be changing jobs before the loan closes.
Transcribed Image Text:A borrower has committed fraud if they: A) receive gift money from a family member as down payment for a purchase loan. B) intend to occupy a property as their primary residence for a reverse mortgage loan. C) borrow the down payment from the seller through a non-disclosed second mortgage. D) inform the mortgage loan originator that they will be changing jobs before the loan closes.
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