5) Which is not true about mortgages?

a) the lower the PTI ratio, the greater the likelihood that the applicant will be able to meet the required monthly mortgage payments

b) the higher the LTV ratio, the greater the protection for the lender if the applicant defaults on the payments and the lender must repossess and sell the property

c) the three underwriting standards for conforming mortgages are a maximum PTI ratio, a maximum LTV ratio, and a maximum loan amount

d) Mortgages have embedded call options