Fair Housing
In Michigan, the Home Mortgage Disclosure Act (HMDA) requires lenders to:
AMake loans in all neighborhoods regardless of risk
BCollect and report data on mortgage applications and originations to identify potential discriminatory lending patterns✓ Correct
CReduce interest rates for minority borrowers
DShare applicant data with all competing lenders
Explanation
HMDA requires mortgage lenders to collect, report, and publicly disclose data on loan applications, originations, and denials, including applicant demographic information. This data is used to identify potential discriminatory lending patterns (redlining and reverse redlining).
Related Michigan Fair Housing Questions
- In Michigan, a landlord who charges a higher security deposit to tenants with children than to tenants without children is:
- Under the Fair Housing Act, which of the following is a permitted exemption for religious organizations?
- Under Michigan's Elliott-Larsen Civil Rights Act, housing discrimination based on marital status means a landlord cannot:
- Under the Fair Housing Act, a bona fide nonprofit organization may:
- In Michigan, 'disparate impact' in fair housing means:
- In Michigan, a real estate licensee who steers buyers away from a neighborhood because of its racial composition:
- In Michigan, a real estate agent who tells a Black homebuyer that a neighborhood is 'not really right for you' without any factual basis is:
- In Michigan, a complaint of housing discrimination can be filed simultaneously with:
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