Fair Housing
What is 'predatory lending' and why is it a fair housing concern in Illinois?
ALegal aggressive marketing of mortgage products to qualified buyers
BUnfair, deceptive, or fraudulent loan terms targeting vulnerable borrowers, often in minority communities, violating fair housing and lending laws✓ Correct
CHigh-interest rate lending approved by IDFPR for high-risk borrowers
DFederally approved subprime lending with government oversight
Explanation
Predatory lending involves deceptive or unfair loan practices that harm borrowers—including excessive fees, hidden terms, steering to high-cost loans when better options are available, and targeting vulnerable populations. Predatory lending disproportionately affects minority communities, making it a fair housing concern. Illinois has laws including the High Risk Home Loan Act to combat predatory lending.
Related Illinois Fair Housing Questions
- The Illinois Human Rights Act prohibits discrimination in housing based on which protected class NOT covered by the federal Fair Housing Act?
- The federal Fair Housing Act was significantly amended in 1988 to add which additional protected classes?
- The Illinois Human Rights Act covers which of the following that the federal Fair Housing Act does NOT?
- Blockbusting (also called panic selling) is the illegal practice of:
- Under the Illinois Human Rights Act, 'ancestry' as a protected class protects against discrimination based on:
- In Illinois, a real estate brokerage that refuses to cooperate with or show properties to buyers who are represented by a broker of a certain ethnicity is engaged in:
- The Illinois Human Rights Act applies to:
- A landlord tells a prospective tenant 'we don't have any vacancies' when in fact units are available, because the landlord does not want to rent to someone of a particular national origin. This is an example of:
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