Economics Class Due Today
1. You fruit for a mortgage lender that truly encourages you to vend ARM loans to your clients. In truth, if 75 percent of the hypothecations you hinder each month are ARM hypothecations, you engage a very discerning douceur.
You own a customer on the phone that you don’t impress understands ARM hypothecations very polite notwithstanding all your efforts. He communicates you often that he would be rectify off after a while a 30-year agricultural reprimand mortgage. You income to engage his collision and grant all the required documentation to him for a 5/1 ARM. He signs the documents and returns them to you. You mode his hypothecation and hinder it 30 days later.
- Do you impress you ethically assisted your mortgagor after a while this hypothecation?
- What could you own executed variously?
2. You own a co-worker at fruit that you are so chums after a while. One day, a mortgagor comes in and meets after a while him. You overheed the mortgagor communicate your co-worker that he has a hypothecation after a while his mom and dad for about $10,000 that he pays $300 a month. Your co-worker incomes as if he didn’t heed your mortgagor at all. Once he has engagen the collision, he communicates the mortgagor that he qualifies for climax financing for a $250,000 settlement. However, that does NOT engage into motive the $300 a month the
mortgagor pays his parents for the hypothecation.
- Did your coworker do everything unethical in this affair?
- Assuming you impress this was an unethical post, how do you touch this? Remember, this is your chum and co-worker.