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Equal Credit Opportunity Act: Regulation B ~ E3

Course Description

This course provides an overview of the Equal Credit Opportunity Act and its implementing Regulation B, which prohibits discrimination in any aspect of the credit process on the basis of race, gender, marital status, religion, national origin, age, color, receipt of public assistance income, or the exercise of rights under the Consumer Credit Protection Act. Important regulatory restrictions and precautions are discussed in the course, which involves taking the credit applications, evaluating the application, notifying applicants of the credit decision, and maintaining records of the loan. Who and what are covered by the law are explored. Adverse action and appraisal disclosure requirements are explained.
35 Minutes
Series: Compliance Essentials
Roles: Mortgage Professionals, Mortgage Closer, Mortgage Loan Originator, Mortgage Processor, Mortgage Underwriter
Course Format: E3
Package: Compliance Essentials, Mortgage Advantage, Mortgage Complete, Mortgage Edge

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