Fair Housing
The maximum civil penalty for a first-time fair housing violation in a HUD administrative action is approximately:
A$10,000
B$16,000✓ Correct
C$37,500
D$75,000
Explanation
For first-time violations, HUD can impose civil penalties up to approximately $16,000 (periodically adjusted for inflation). Repeat violators face significantly higher penalties, up to $65,000 or more for multiple violations within a seven-year period.
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Key Terms to Know
Fair Housing Act
Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
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