Finance
The Home Mortgage Disclosure Act (HMDA) requires lenders to:
AApprove all mortgage applications from protected classes
BCollect and disclose data on mortgage applications and loans by geographic area and borrower demographics✓ Correct
CSet interest rates based on census data
DProvide free mortgage counseling to all applicants
Explanation
HMDA requires mortgage lenders to collect and report loan data by geographic area, race, and other demographics to help identify discriminatory lending patterns.
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