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What must a lender provide to a prospective borrower who is obtaining an Adjustable Rate Mortgage? a. An educational brochure about ARMs b. An historical
What must a lender provide to a prospective borrower who is obtaining an Adjustable Rate Mortgage?
a. An educational brochure about ARMs
b. An historical example how payments on a $10,000 loan would have changed in response to actual past historical data on the index to be applied.
c. The payment amount on a $10,000 loan at the initial interest rate, and the maximum possible interest rate that could apply to the loan during its term.
d. All of the above.
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