ABA CRCM Practice Test - Questions Answers, Page 5
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Question 41

Which of the following usually comes under the heading of abusive lending?
Question 42

______________ is frequent refinancing that do not benefit the borrower. This practice can result in borrower injury from the fees imposed and from the fact that it decreases home equity and increases the consumer's debt burden, thus increasing the chance of foreclosure.
Question 43

Guidelines for National Banks to Guard against Predatory and Abusive Lending Practices---AL-2003-2 says that refusing to purchase the following types of loans can reduce the possibility of purchasing abusive mortgage loans EXCEPT:
Question 44

Predatory lending practices can adversely affect:
Question 45

The purpose of advisory letter in Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loans- AL-2003-3 is to:
Question 46

Examples of unfair practices mentioned in guidelines against Predatory and Abusive Lending includes loan flipping and loan equity stripping. It is said that:
Question 47

Which of the following are recommended practices In Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased Loans---AL-2003-3?
Question 48

Below mentioned list shows the significant risks of _______________.
Borrowers with cash-flow difficulties
Borrowers with no lower-cost credit alternatives
Minimal analysis of borrower's ability to repay the loan
Minimal review of borrower's credit history
Credit is usually unsecured
Question 49

Banks must maintain an ____________adequate to absorb estimated credit losses from payday loans. Banks should evaluate the collectability of accrued fees and finance charges on payday loans and ensure that this income is appropriately measured.
Question 50

Safety and soundness concerns in FDIC Payday Lending Guidance clearly mention that there should be adequate capital as Minimum capital requirements are not enough to offset the risks of payday loans. Banks should hold capital against its subprime portfolio in amounts:
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