Finance
The Home Mortgage Disclosure Act (HMDA) requires lenders to:
AApprove all qualified loan applications
BPublicly report data on mortgage applications, approvals, and denials✓ Correct
COffer adjustable-rate options to all borrowers
DProvide free counseling to declined applicants
Explanation
HMDA requires covered lenders to collect, report, and disclose data about their mortgage activity, enabling regulators and the public to identify potential discriminatory lending patterns.
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