During a disclosure desk review, a disclosure specialist encounters an HMDA Fair Lending Analysis issue. Which response should avoid a shortcut that would misapply the rule?
Correct Answer
D) Use Regulation C coverage rules before excluding the file
Covered institutions collect and report HMDA data for covered mortgage applications and loans. The best answer is "Use Regulation C coverage rules before excluding the file".
Why This Is the Correct Answer
Covered institutions collect and report HMDA data for covered mortgage applications and loans. The best answer is "Use Regulation C coverage rules before excluding the file".
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