When a loan falls into the category of a “higher-priced” loan, all of the following are restrictions imposed by the 2009 amendment to TILA except:

Insurance

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When a loan falls into the category of a “higher-priced” loan, all of the following are restrictions imposed by the 2009 amendment to TILA except:

A. Lenders are required to verify the repayment ability of the borrower

B. The repayment schedule must consolidate at least two periodic payments to be paid in advance

C. Prepayment penalties are limited to two years. D. Impound accounts must be established for payment of taxes and insurance

D. None of the above

Answer: B

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