RC_RC_LP_201.5 Evaluating Fair Lending Compliance
Fair lending laws are designed to prevent inappropriate discrimination, protect the consumer, and promote access to credit opportunities. Mortgage lenders are required to adhere to these laws and are monitored by their supervisory agencies for compliance.
Evaluating Fair Lending Compliance begins with a look at the examination process, describing what agency regulators look at and for during their examination. From there, the course explains what information must be made public by banks, thrifts, credit unions, and mortgage lenders in regards to mortgage lending activity, especially focusing on community reinvestment requirements. Finally, the course details agencies that protect consumer rights and how consumers can receive help from these agencies when they feel they have a valid complaint.
This is a single-family/residential course.
- Fair Lending Examinations
- Public Disclosure Requirements
- Consumer Fair Lending Complaint Procedures
Seat time approximately 1 hour.