Oliver, a mortgage agent level 2. has a client, Erik, who would like to pay for his home renovations using a second mortgage, since his first mortgage is closed for another two years. Erik is insistent that he does not pay any lender fees, however he is fine with any interest rate up to 14%. Oliver's investor, Joe, who is interested in funding this mortgage, is insistent that he earn a 13% IRR, typically by charging a rate of 11% along with a lender's fee, but as long as he's able to earn at least 13% IRR, he is open to suggestions. Give this scenario which of the following options would satisfy both Erik and Joe? Select one: a. Charge a lender's fee that earns Joe an IRR of 13% while charging 11% as an interest rate to Erik b. There is no way to satisfy the needs of both Joe and Erik in this scenario c. Charge a brokerage fee and pay it to joe so that he earns at least 13% while charging Erik 10% interest d. Charge an interest rate of 13% with no lender fee A John is a mortgage broker who is trying to arrange financing for his borrower, Mary, to consolidate her debts. Mary has an institutional first mortgage that is open. She has sufficient equity and income to qualify to refinance her first mortgage, but because of some bruised credit her bank is not interested in doing so at this time. but will do so once her credit improves. John has determined that a private second mortgage is in Mary's best interests. Mary will need about ten months after paying off her debts to rehabilitate her credit to be able to rrefinance with her bank, meaning she will likely not need to renew with the private lender at the end of the year. One of John's private investors, Camille, only wishes to invest in mortgages with a one-year term with a prepayment penalty. She is willing to accept early prepayment, but she never renews a mortgage. John feels that Camille may be a good candidate for this mortgage because: Select one: a. Mary has good income and will therefore make the payments to Camille b. John should not consider Camille as an investor for this mortgage c. Mary should not need to renew the private mortgage and is therefore suitable for Camille d. Mary has sufficient equity therefore is a good risk for Camille