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a) Subprime lending is one of the factors that contributed to the global financial crisis. Describe five characteristics of sub-prime mortgage loans. 10 Marks b)
a) Subprime lending is one of the factors that contributed to the global financial crisis. Describe five characteristics of sub-prime mortgage loans. 10 Marks
b) Outline five pieces of information you would need to obtain before extending a mortgage loan to an applicant. 5 Marks
c) Explain how information sharing by credit agencies can improve the relationship between a bank and its customers. 15 marks
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