3. (12 points) Residential Mortgage Types and Borrower Decisions a) (4 points) Explain why a home equity mortgage loan can be a better source of funds for household needs than other types of consumer debt. b) (4 points) What are the different factors that affect a borrower's refinancing decision? What is the general rule of thumb? c) (4 points) Distinguish between conforming and nonconforming residential mortgage loans and explain the importance of the difference