Grace Knowles has applied for a $175,000 mortgage for the purchase of a townhome. The loan application asks for Grace's marital status.
In addition, the lender is requiring Grace to have her husband's signature on the loan application. Which if the following statements is correct?
A) Grace's lender has violated the ECOA.
B) Grace's lender has only protected its mortgage interest through the question and signature requirement.
C) Grace can rescind the loan because of the lender's action.
D) Grace has an AQR remedy.
Correct Answer:
Verified
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