Which of the following statements about recourse is (are) true? Multiple Choice The buyer of the...

Which of the following statements about recourse is (are) true?

Multiple Choice

The buyer of the mortgage can require the mortgage seller to repay the mortgage if the
homeowner defaults.
Most mortgage sales are with recourse.
The homeowner can direct who the mortgage service provider is.
The seller of the mortgage is responsible for the interest payments only.
The mortgage seller must make all the monthly payments.

Expert Solution

Answer-

The first option is True. The buyer of the mortgage can require the mortgage seller to repay the mortgage if thehomeowner defaults.

The second option is False. Most mortgage sales are not with recourse.
The third Option is False. The homeowner cannot direct who the mortgage service provider is.
The fourth option is False. The seller of the mortgage is responsible for all princial and interest payments which belong should be promptly remitted to the Mortgage loan seller beforecut off dates.
The fifth option is false. All monthly payments are not paid by mortgage seller.

jeff jeffy answered 2 years ago

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