Finance
Which of the following is NOT considered a factor in mortgage underwriting in Mississippi?
ACredit score
BDebt-to-income ratio
CThe borrower's religious affiliation✓ Correct
DLoan-to-value ratio
Explanation
Mortgage underwriting is based on financial factors: creditworthiness, income, debt ratios, assets, and LTV. Religious affiliation is a protected class under ECOA and the Fair Housing Act—it may never be used in underwriting decisions.
Related Mississippi Finance Questions
- A Mississippi lender offers an 'adjustable-rate mortgage' (ARM) with an initial fixed period of 5 years, then annual adjustments. This is commonly called a:
- Which of the following is a 'government-backed' mortgage loan program used in Mississippi?
- A Mississippi buyer is obtaining an adjustable-rate mortgage with a 5/1 ARM structure. This means:
- A Mississippi borrower applies for a mortgage but is denied. Under the Equal Credit Opportunity Act (ECOA), the lender must:
- Under the Community Reinvestment Act (CRA), Mississippi lenders are evaluated on their efforts to:
- A Mississippi borrower takes out a home equity line of credit (HELOC). The HELOC is secured by:
- A Mississippi 'mortgage broker' differs from a 'mortgage lender' in that a mortgage broker:
- A Mississippi buyer uses a USDA Rural Development guaranteed loan to purchase a home in a rural area. A key feature of this loan program is:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →