The index on an adjustable rate mortgage must be: b . acceptable to the borrower

• A. all of the above
• B. a and b
• C. an established index
• D. not under the control of the lender

Borrower qualifications are mostly the concern of the:

• A. both a and b
• B. lender
• C. borrower
• D. mortgage insurer

Foreclosure is a process that: mortgage

• A. returns the property to a borrower when the loan is paid off
• B. is exercised by a buyer of the property
• C. allows the lender to recover all or some of the loan balance in a defaulted
• D. is consistent in all states as required by federal law