Finance
The Community Reinvestment Act (CRA) requires Texas financial institutions to:
AMake loans at below-market rates to low-income borrowers
BMeet the credit needs of all segments of their community, including low- and moderate-income neighborhoods✓ Correct
CFund only community development projects
DReport all loan denials to HUD
Explanation
The CRA requires federally regulated financial institutions to meet the credit needs of their entire community, including low- and moderate-income areas, within the bounds of safe and sound lending practices.
Related Texas Finance Questions
- A VA loan in Texas guarantees a portion of the loan for eligible veterans. This guarantee eliminates the need for:
- A Texas lender requires flood insurance for a property in a Special Flood Hazard Area (SFHA). This is required by:
- In Texas, a home equity line of credit (HELOC) secured by the homestead can be used for:
- Under Texas law, a lender must provide a final Closing Disclosure at least 3 business days before closing. A 'business day' under TRID is defined as:
- In Texas, the usury laws set maximum interest rates on loans. For most consumer loans, the maximum rate is governed by:
- Texas law requires that a Notice of Right to Cancel (right of rescission) be given to borrowers in which of the following transactions?
- Texas is a community property state. This means that property acquired during marriage:
- A Texas buyer qualifies for the TDHCA My First Texas Home program. This program provides:
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →