Finance
The Home Mortgage Disclosure Act (HMDA) requires lenders to:
ADisclose all loan fees to borrowers
BReport data on mortgage applications and loans, including demographic information, to detect lending discrimination✓ Correct
CProvide fixed-rate loans to all applicants
DNotify borrowers of foreclosure rights
Explanation
HMDA requires covered lenders to collect, report, and disclose information about mortgage applications and loans to help regulators identify discriminatory lending patterns (redlining, reverse redlining).
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