Your buyer clients, the Thompsons, told you about a problem they ran into with the lender that handled their mortgage. The Thompsons, who are African American, were given less favorable loan terms than a white couple they know who used the same lender. You know the Thompsons have excellent credit. Which act should you make them aware of

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03-01-2022
Mathematics

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Your buyer clients, the Thompsons, told you about a problem they ran into with the lender that handled their mortgage. The Thompsons, who are African American, were given less favorable loan terms than a white couple they know who used the same lender. You know the Thompsons have excellent credit. Which act should you make them aware of

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Topeadeniran2idn Topeadeniran2idn · Answer 1 · 2022-01-11T11:56:43-05:00

Based on the information given, the act that they should be aware of is the equal credit opportunity act.

What is the equal credit opportunity act?

The equal credit opportunity act is an act that makes it unlawful to discriminate against an applicant on the basis of race, religion, marital status, etc.

Based on the information given, the Thompsons, who are African American, were given less favorable loan terms than a white couple they know who used the same lender. Therefore, it is important for them to be aware of the equal credit opportunity act.

Learn more about the equal credit opportunity act on:

https://brainly.com/question/1290978

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What is the equal credit opportunity act?

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