SOFE
AFE · Question #177
Generally, residential loans are open to prepayment at any time without penalty. To protect against a deficiency, mortgage loans should not exceed the market value of the mortgaged property and in…
The correct answer is A. No more than 80 percent of the value. See the full explanation below for the reasoning.
Question
Generally, residential loans are open to prepayment at any time without penalty. To protect against a deficiency, mortgage loans should not exceed the market value of the mortgaged property and in fact are usually made for:
Options
- ANo more than 80 percent of the value
- BNot less than 80 percent of the value
- CNo more than 90 percent of the value
- DNot less than 70 percent of the value
How the community answered
(41 responses)- A76% (31)
- B2% (1)
- C7% (3)
- D15% (6)
Community Discussion
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