Task: Instance Description Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes the instance 'cashout'?

A. The mortgage is refinanced for less than or equal to what is owed.
B. an automated underwriting software system produced by Freddie Mac
C. the mortgage is refinanced for more than is owed and the borrower pockets the difference.
D. a cashout mortgage where the amount is limited by the lenger. 80% loan to value ratio is a common limit.

Answer: the mortgage is refinanced for more than is owed and the borrower pockets the difference.