Which of the following Acts is particularly designed to regulate the home loan market, and put the burden on lenders to verify that a borrower can afford to repay the loan for which he or she has applied?
A)Fair Credit Reporting Act
B)Consumer Financial Protection Act of 2010
C)Truth-in-Lending Act
D)Mortgage Reform and Anti-Predatory Lending

Question

Quizplus · Accepted Answer

The Mortgage Reform and Anti-Predatory Lending Act is specifically aimed at regulating the home loan market and protecting borrowers from predatory lending practices. The act places responsibility on lenders to verify that a borrower can afford to repay the loan they are applying for, thereby preventing loans from being given to individuals who cannot afford to repay them.

Which of the Following Acts Is Particularly Designed to Regulate