2. Mortgage classifications and borrower creditworthiness Suppose Eileen is planning to purchase a home and in her mortgage application, she deciares that she plans to put a 5 percent down payment on the home. Additionally, Eileen's debt-to-income ratio and credit score are 39 percent and 580 , respectively. Assuming that Eileen's mortgage application is accepted by the lender, how would her mortgage llkely be classified? Conventional mortgage Federally insured mortgage Prime mortgage Subprime mortgage Suppose Alex, Becky, and Clancy are looking to purchase homes in Los Angeles, and they all happen to find exactly the home they are looking for within a mile of one another, each costing $690,000. None of the homeowners have enough cash to purchase their selected home outright, so each of them needs to submit a mortgage application in order for their lender to determine whether or not the borrower will be able to repay the mortgage loan. Suppose Alex, Becky, and Clancy all use Bank of America as their lender and that they all submit their mortgage applications at the same time. The following table shows: (1) the amount that each borrower suggests they will put as a down payment on their home, (2) each borrowers' debt-toincome ratio, and (3) each borrower's credit score. Using the information in the table, answer the question that follows: Given the information in the table, which of the three borrowers has the strongest mortgage application? Alex Becky Clancy