Câu 103: CRCM: Certified Regulatory Compliance Manager

The senior lender at ABC bank would like to make stated income mortgage loans (i.e., loans where the bank does not verify the applicant's income) to mortgage customers, including subprime borrowers. Under the statement on subprime mortgage lending, which of the following is the best statement of the bank's responsibility regarding this new program?

1. A. Due to the risks, it should not implement such a program for subprime borrowers
2. B. The bank should make a policy for this program that includes mitigating factors for the risks — đáp án hiện tại
3. C. The bank should set stringent debt-to-income ratios for these loans
4. D. The bank should establish workout procedures for such loans in advance of making them.