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  3. Adverse action

Exam term

Adverse action

A creditor's denial or other unfavorable action on a credit application, which entitles the applicant to specific reasons, supplied directly or on request.

Lessons that use this term

  • Federal mortgage lending laws: RESPA, Truth in Lending, and equal credit Florida
  • The lender's criteria: the property and the borrower's ability to repay New York
  • RESPA, ECOA, mortgage fraud, and predatory lending Texas

Exam prep

  • Insurance
  • Real Estate
  • SAFE MLO
  • SIE

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