Fair Housing
What is the Home Mortgage Disclosure Act (HMDA) and how does it relate to fair housing in Nevada?
AIt regulates interest rates for Nevada home loans
BIt requires mortgage lenders to collect, report, and disclose loan application data, helping regulators identify discriminatory lending patterns (redlining, reverse redlining)✓ Correct
CIt sets maximum loan amounts for Nevada first-time buyers
DIt provides homebuyers with the right to inspect their credit file
Explanation
HMDA requires lenders to collect and publicly report mortgage application and origination data including borrower demographics and loan characteristics. Regulators use HMDA data to identify potential fair lending violations, including disparate treatment or redlining in Nevada markets.
Related Nevada Fair Housing Questions
- Blockbusting is best described as:
- What is the duty of a Nevada property manager to ensure a safe environment under fair housing law?
- What are the requirements for a Nevada housing development to qualify for the 55+ housing exemption from familial status discrimination?
- What is 'economic integration' as a fair housing concept and how does it apply in Nevada?
- A Nevada lender offers a prime rate loan to white applicants and automatically offers subprime rates to Hispanic applicants with identical credit profiles. This is an example of:
- What is 'sexual harassment' under fair housing law and how does it apply to Nevada residential properties?
- What is the maximum civil money penalty for a first fair housing violation by a private individual under the Fair Housing Act?
- What is a 'reasonable accommodation' request timeline in Nevada housing?
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →