This is a single-family/residential course.
The potential borrower has been interviewed, an application completed, and a credit investigation performed. Based on this information, the underwriter must now make the loan decision. Several laws and regulations speak directly to credit evaluation, denial, and settlement.
Fair Lending During Loan Disposition examines fair lending considerations during the underwriting phase of the loan production cycle. It begins with being consistent in during the credit evaluation process in regards to: compensating factors, applying approval conditions, dealing with non-occupying co-borrowers, and evaluating applicants. From there, the course examines fair lending when credit must be denied especially in notifying the applicants.
The end of the course describes the lender's obligations to respond to the needs of the community, including HMDA reporting requirements.
- Credit Evaluation
- Credit Denial
- Assessment of Community Credit Needs and HMDA
Seat time approximately one (1) hour.