Finance
Which federal law prohibits discrimination in the granting of credit based on race, color, national origin, sex, religion, marital status, age, or receipt of public assistance?
AFair Housing Act
BEqual Credit Opportunity Act (ECOA)✓ Correct
CRESPA
DTILA
Explanation
The Equal Credit Opportunity Act (ECOA) prohibits discrimination in any aspect of a credit transaction based on race, color, national origin, religion, sex, marital status, age, or receipt of public assistance.
Related Hawaii Finance Questions
- What is 'recourse versus non-recourse' debt in Hawaii commercial real estate?
- In Hawaii, what is a 'shared equity mortgage'?
- A Hawaii buyer's back-end debt-to-income ratio is 43%. This means:
- An FHA loan differs from a conventional loan primarily because:
- In a typical Hawaii residential transaction, which document creates the borrower's personal obligation to repay the loan?
- Which loan type allows a buyer to finance a home with no down payment and is available to eligible military veterans in Hawaii?
- A Hawaii buyer is purchasing a $700,000 home with a conventional loan and 10% down. What is the approximate LTV, and will PMI be required?
- What is 'assumable mortgage' and why might it be valuable in Hawaii in a rising rate environment?
Practice More Hawaii Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Hawaii Quiz →