Finance
Vermont lenders are required by HMDA (Home Mortgage Disclosure Act) to:
AApprove all mortgage applications
BCollect and report data on mortgage applications and lending patterns to detect potential discrimination✓ Correct
CProvide fixed-rate mortgages to all qualified applicants
DSet uniform mortgage rates across Vermont
Explanation
HMDA requires lenders to collect and publicly disclose data about their mortgage applications and lending decisions, enabling regulators and the public to detect patterns of potential discrimination in lending.
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