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Question
Which of the following statements about HOEPA loans is NOT true?
a. Lenders must make disclosures three days before closing.
b. Lenders are prohibited from charging an APR that is 10 points higher than a rate on a Treasury Bill.
c. Lenders may not require balloon payments in less than five years on most loans.
d. Lenders may not make loans that do not adequately consider the borrowers ability to repay.
Answer
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