Finance
The Home Mortgage Disclosure Act (HMDA) requires lenders to:
AOffer equal loan terms to all applicants
BCollect and report data on mortgage loan applications and originations✓ Correct
CLimit the number of loans made in any geographic area
DProvide free credit counseling to applicants
Explanation
HMDA requires covered lenders to collect and publicly report data on mortgage loan applications, approvals, and denials — enabling regulators and the public to identify potential discriminatory lending patterns.
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