Finance
The Community Reinvestment Act (CRA) encourages lenders to:
AOnly make loans to wealthy borrowers
BMeet the credit needs of all segments of their communities, including low- and moderate-income areas✓ Correct
CRestrict lending to rural areas only
DRequire community service from borrowers
Explanation
The CRA requires federally insured banks and thrifts to meet the credit needs of all segments of their service areas, including low- and moderate-income neighborhoods, combating redlining and credit deserts.
Related New Hampshire Finance Questions
- A mortgage with a 30-year term and fixed rate compared to a 15-year fixed rate will have:
- The 'three-day right of rescission' under TILA applies to which NH transaction?
- A NH homebuyer who receives a seller credit at closing must understand that the credit:
- A NH buyer obtaining an adjustable-rate mortgage (ARM) should be particularly aware of the 'index' and 'margin' because:
- A NH commercial real estate appraisal ordered for a business acquisition loan will typically use which value standard?
- In a NH short sale, the seller receives approval from the lender to sell the property for less than the mortgage balance. The lender's decision is significant because:
- Trigger terms in mortgage advertising under TILA include disclosing the full finance terms when an ad mentions:
- A NH commercial property sells at a 6.5% cap rate. If the same property's NOI increases by 10% next year, and the cap rate remains the same, the property's value would:
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →