The Equal Credit Opportunity Act (ECOA) prohibits lenders from discriminating in lending based on all of the following EXCEPT:
Why Credit score and debt-to-income ratio Is Correct
Answer D: Credit score and debt-to-income ratio
Exam Tip: Finance
Finance questions often involve calculations. Master the T-bar method, understand the difference between conventional and government-backed loans, and know key ratios like LTV and DTI.
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Related California Questions
- The Equal Credit Opportunity Act (ECOA) prohibits lenders from discriminating based on all of the following EXCEPT:Finance
- Which federal law prohibits discrimination in the sale, rental, and financing of housing based on race, color, national origin, religion, sex, familial status, and disability?Fair Housing
- Which federal law prohibits housing discrimination based on race, color, national origin, religion, sex, familial status, and disability in the rental of residential property?Property Management
- Which federal law prohibits lenders from discriminating against borrowers based on race, color, religion, national origin, sex, familial status, or disability when making mortgage loans?Finance
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- Which of the following practices related to home loans is prohibited under the Equal Credit Opportunity Act (ECOA)?Fair Housing
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Key Terms to Know
A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Pre-ApprovalA lender's conditional commitment to loan a specific amount to a borrower, based on verified income, credit, and assets.
Fair Housing ActFederal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
Math Concepts
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