Mortgage loans made to borrowers with normal credit quality, but who lack the necessary documentation of their financial circumstances typically needed to meet conforming mortgage standards would most likely be considered alt-A loans.
- A loan mortgage is a secured mortgage that lets in you to avail budget with the aid of using imparting an immovable asset, which includes a residence or industrial property, as collateral to the lender. The lender maintains the asset till you pay off the mortgage.
- Alt-A is a category of mortgages with a chance profile falling among top and subprime. They may be taken into consideration excessive chance because of provision elements custom designed with the aid of using the lender. This kind of mortgage has a tendency to be extra pricey for the borrower, as they'll deliver better hobby charges and/or fees.
Thus the answer will be Alt- A loans.
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The journal entry on May 1 was:
A debit to Prepaid Insurance for 15,600
And a credit to cash for 15,600
Prepaid Insurance is the share of an insurance premium that
has been paid in early and has not finished as of the balance sheet date.
The monthly insurance payment for two years is computed by 15,600/24
months which is $650 per month.
At December 31 the adjusting entry would be:
A debit to Insurance Expense 5,200
And a credit to Prepaid Insurance for 5,200
5,200 is computed by:
650 x 8 months (starting from May 1 to December 31) = 5,200
Answer:
-Checking accounts almost never generate interest.
-It's much easier to spend money from a checking account.
have a nice day!
Answer:
B
Explanation:
Explain to Zahra that she must report all her business income and expenses.
To qualify for the Earned Income Credit you must have earned income from working for someone or from running or owning a business and meet basic rules.This is a reason for Zahra to report all her business income and expenses.
