During a disclosure desk review, a policy analyst encounters a Fair Lending Laws issue. Which response should decide how the file should be documented?
Correct Answer
A) Do not discourage applicants on a prohibited basis
Fair lending requires equal treatment and credit-related standards without prohibited-basis discrimination. The best answer is "Do not discourage applicants on a prohibited basis".
Why This Is the Correct Answer
Fair lending requires equal treatment and credit-related standards without prohibited-basis discrimination. The best answer is "Do not discourage applicants on a prohibited basis".
More Ethics & Fraud Questions
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A disclosure specialist compares the file facts with Fraud Detection and Reporting during a new-hire scenario. Which conclusion is accurate?
Before the team acts on a production meeting, the MLO must address professional conduct standard to Borrowers. Which response is most defensible?
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