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vova2212 [387]
3 years ago
10

In 2005, a loan broker and appraiser working for a subsidiary of Bank of America appraised the Cassies home at a fair market val

ue of $620,000. Based on that appraisal and other representations by lending personnel, the Cassies elected to refinance their home with a $495,000 adjustable rate mortgage. Lending personnel told them their home would appreciate and they would be able to sell or refinance the home at a later date before having to make higher monthly loan payments. In 2010, the Cassies discovered their home was valued at $250,000. The monthly mortgage payments doubled in size. The Cassies stopped making payments on the mortgage, which had a balance due of $625,000. Soon after, the fair market value of the house was $200,000. Then, the bank foreclosed on the house and the Cassies moved in with family. The Cassies sued Bank of America for fraud. What is the result?
A. The Cassies will lose.
B. The Cassies will recover partial value of their foreclosed home.
C. The Cassies will win.
Business
1 answer:
Tomtit [17]3 years ago
3 0

Answer:

C. The Cassies will win.

Explanation:

In the given case, the cassies would win as this was appraisal fraud that done by the company employee who is a Bank of america Subsidiary. Here the loan broker and the appraiser increase the fair market value of cassies home i.e. $620,000 but it would be lesser that is $250,000. So this inflate the value in order to make the payment of high rate with related to the mortgage

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erastova [34]

Answer:

1. Omar Ndiaye is a basketball player at Northern Arizona University. He is just as skillful as his teammates, but the only difference is that he plays with one hand.

2. Basketball is a sport with 5 players on the court on each team. Basketball players have to dribble, pass, and shoot, as well as having good reactions and good communication skills. It can be found in Australia, Canada, Germany, Mexico, the U.S., as well as many other countries.

3. The chances of Ndiaye becoming a basketball player was particularly low because he was born without a right hand. But that never stopped him.

4. People are amazed at the things he can accomplish with one hand.

5. As a kid, Ndiaye tried out a lot of sports including, soccer and swimming. He also tried basketball trying to figure out ways on how to play it with one hand.

6. Without thinking too much about how to do it, he just did it.

7. He practiced over and over until it became second nature to him.

8. All the practice did pay off. He was one of the best where he lived. Yet again, people were mesmerized.

11. Ndiaye supported his teammates by being him.

12. When people see Ndiaye working hard with one hand, it motivates them to work harder.

13. He also inspires the kids at youth basketball camps.

14. People questioned Ndiaye about how he did it, he says, "I always let them know if they have confidence in themselves they can do anything."

15. After college, Ndiaye plans to become a motivational speaker because he has a lot to tell people with his story.

Explanation:

Hope this helps. Sorry, it took a while. :)

5 0
3 years ago
Vijay Inc. purchased a three-acre tract of land for a building site for $260,000. On the land was a building with an appraised v
puteri [66]

Answer:

$273,840

Explanation:

The Cost of of an item of Property, Plant and Equipment according to IAS 16 include the purchase price and any directly related costs incurred in bringing the asset in the condition and location for operation as intended by management.

<u>Calculation of the Cost of Land</u>

Purchase Price                                                                                $260,000

Cost after proceeds to demolish old building($11,300 - $1,670)      $9,630

Insurance                                                                                                $830

Legal Fees                                                                                              $420

Property taxes  ( $3,300 - $170)                                                          $3,130

Capitalized Cost                                                                              $273,840

3 0
3 years ago
Assuming the expectations theory is the correct theory of the term structure, calculate the interest rates in the term structure
Trava [24]

Answer:

The plot of the yields is attached.

Explanation:

i) 6%, 7%, 8%, 7%, 6%

Interest rate on 1 year maturity = 6%/1 = 6%

Interest rate on2 year maturity = (6%+7%)/2 = 6.5%

Interest rate on 3 year maturity = (6%+7%+8%)/3 = 7%

Interest rate on 4 year maturity = (6% + 7% + 8% + 7%)/4 = 7%

Interest rate on 5 year maturity = (6% + 7% + 8% + 7% + 6%)/7 = 6.8%

ii)6%, 5%, 4%, 5%, 6%

Interest rate on 1 year maturity = 6%/1 = 6%

Interest rate on 2 year maturity = (6% + 5%)/2 = 5.5%

Interest rate on 3 year maturity = (6% + 5% + 4%)/3 = 5%

Interest rate on 4 year maturity = (6% + 5% + 4% + 5%)/4 = 5%

Interest rate on 5 year maturity =   (6% + 5% + 4% + 5% + 6%)/5 = 5.2%

3 0
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egoroff_w [7]

Answer:

business or person that carries out work for a company as part of a larger project.

Explanation:

A hun

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2 years ago
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belka [17]

Answer:

The correct answers are the following options:

After recording the transaction, total assets will always equal total liabilities plus equity.

The accounting equation must always remain in balance

Explanation:

To begin with, the name of <em>"Accounting Equation"</em> is famously known in the business field due to the fact that it is a concept from the accountant of companies and in fact a very important one. The accounting equation represents the sum between the equity and the debts of the company that will always give the total assets of the company. It is considered to be the foundation of the double-entry accounting system, so that is why it is so important. Moreover, under its doctrine, it proves that the balance sheet must always remain balance.

4 0
3 years ago
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