Finance
The Illinois Predatory Mortgage Lending Database Act requires mortgage lenders to report certain loan data to help identify:
ABorrowers with perfect credit to offer them premium loan products
BHigh-cost and high-risk mortgage loans that may indicate predatory lending patterns in Illinois communities✓ Correct
CAll mortgage loans for income verification with IDOR
DForeign national buyers seeking investment mortgages
Explanation
Illinois passed the Predatory Mortgage Lending Database Act (since superseded by federal reporting) to track high-cost loans and help identify predatory lending patterns. The data helps regulators, housing counselors, and consumers identify lenders with abnormally high foreclosure rates, excessive fees, and other red flags.
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