Fair Housing
The Home Mortgage Disclosure Act (HMDA) requires lenders to:
AApprove all qualified loan applicants
BCollect and report data on mortgage applications, originations, and denials by location and applicant demographics✓ Correct
CProvide below-market interest rates in underserved areas
DSet aside a percentage of loans for minority borrowers
Explanation
HMDA requires covered lenders to collect and publicly disclose data on mortgage loan applications, originations, and denials, including applicant demographics and property locations. This data is used to identify discriminatory lending patterns.
Related Arkansas Fair Housing Questions
- The Federal Fair Housing Act of 1968 prohibits discrimination based on which protected classes?
- The federal Fair Housing Act prohibits discrimination based on which protected classes?
- Blockbusting (panic selling) occurs when a licensee:
- Under the Fair Housing Act, 'familial status' protects:
- Under the Fair Housing Act, a person with a disability may request a 'reasonable accommodation.' This means the landlord must:
- The Civil Rights Act of 1866 prohibits discrimination based solely on:
- The Jones v. Alfred H. Mayer Co. (1968) Supreme Court ruling held that:
- Conciliation in HUD fair housing proceedings refers to:
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