The INCORRECT statement regarding adjustable rate mortgages is that

a. any interest rate adjustment must be linked to some specific index, and it must be specific index, and it must be specified in the original loan documents.

b. the borrower must be allowed to prepay the mortgage in the whole or in part, but the bank may impose a prepayment fee.

c. the lender shall the borrower with a statement concerning the fees to be charged in connection with the loan, including fees due at the closing.

d. the bank offering the mortgage is required to allow as assumption of the mortgage by a new purchaser.