Course length: Approximately 45 minutes
Providing students with the tools needed to maintain compliance with the Equal Credit Opportunity Act, the course will describe the impact that ECOA has on the mortgage lending industry and will explain ECOA specific restrictions and prohibitions.
Additionally, the course identifies a lender’s responsibilities under ECOA to ensure compliance and outline methods that lenders can use to avoid risk of violation. The course includes a variety of learning activities, real-life examples and scenarios designed for students to apply their knowledge of ECOA.
Course objectives include:
• Perform their work in a way that is compliant with ECOA
• Recognize the impact that ECOA has on the mortgage industry
• Identify the responsibilities of lenders under ECOA
• Explain ECOA’s specific restrictions and prohibitions
• Distinguish between an inquiry and an ECOA application
• Identify the notification requirements when a credit application has been taken
More detailed course information is available at: https://www.elliemae.com/education/courses/evaluating-the-equal-credit-opportunity-act
Last Updated 11/2019.
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