Finance
Under the Home Mortgage Disclosure Act (HMDA), Minnesota lenders must collect and report data on:
AAll commercial real estate loans only
BHome mortgage applications including race, gender, and income of applicants✓ Correct
COnly approved loan applications
DOnly loans over $500,000
Explanation
HMDA requires covered lenders to collect and report data on home mortgage applications, including the loan amount, property location, loan purpose, and demographic information about applicants (race, ethnicity, gender, income). This data is used to identify potential discrimination in lending.
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