Please elaborate whether the statement is right or wrong with reasons.

5. The payment-to-income (PTI) ratio is the sole primary factor in determining whether funds

will be lent to an applicant for a mortgage loan.

6. The higher the loan-to-value ratio is, the higher the credit risk is to which the lender is

exposed.

7. When a prepayment is made that is less than the full amount to completely pay off the loan,

the loan is paid off faster than the scheduled maturity date.