Fair Housing
What is 'housing counseling agency' certification by HUD and why is it important for Hawaii home buyers?
AA. HUD certification is irrelevant; any company may offer housing counseling in Hawaii
BB. HUD approves housing counseling agencies that meet standards for training, quality, and independence; using HUD-approved agencies ensures buyers receive accurate, unbiased information from qualified counselors✓ Correct
CC. HUD certification is only required for counselors working with FHA loans in Hawaii
DD. HUD-certified counselors can only advise on federal loan programs; they cannot advise on Hawaii-specific topics
Explanation
HUD-approved housing counseling agencies meet federal standards for counselor training, organizational management, and service delivery. HUD-approved counselors are required for certain programs (reverse mortgages, some first-time buyer programs).
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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.
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.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
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