P4-10 Quiz

Why are lenders prohibited from asking questions about pregnancy or future childbearing, but allowed to ask about dependents and marital status?

Which question is prohibited under the Fair Housing Act and the Americans with Disabilities Act?

Why might a lender request a diploma or college transcript during underwriting?

Which situation may trigger additional income documentation from a lender?

Why do lenders require documentation and gift letters for funds used toward a down payment?

Why is it important for lenders to review the credit report with the borrower?

Why might a lender question a borrower about multiple recent credit inquiries?

Which source is an acceptable gift donor for a conventional loan?

For a conventional loan with a 95% loan-to-value ratio, which statement is correct?