Federal Mortgage LawsQuestion 23 of 400
A creditworthy married applicant applies individually for a mortgage in her own name and qualifies on her own income. Under ECOA, may the lender require her husband to co-sign?
a.No; a lender may not require a spouse to co-sign if the applicant independently qualifies
b.Yes; spouses must always be included on mortgage applications
c.Yes, but only for FHA loans
d.Only if the property is in a community property state
Explanation
ECOA prohibits requiring a spouse's signature when the individual applicant qualifies on her own for the amount and terms requested. Marital status is a protected basis, and a lender cannot mandate spousal co-signing simply because the applicant is married. Loan type and community property status do not override this protection when she independently qualifies.
Law Reference: ECOA / Regulation BPractice all 400 questions free — no signup required.
Related questions on this topic
- Under TRID tolerance rules, which category of charges generally may NOT increase at all from the Loan Estimate to the Closing Disclosure (a zero-tolerance category)?
- A loan originator wants to make telemarketing calls to generate mortgage leads. Under the federal Telemarketing/Do-Not-Call rules, a number registered on the National Do-Not-Call Registry generally may still be called if:
- Under the Mortgage Assistance Relief Services (MARS) rule (Regulation N), a company offering loan modification services to distressed homeowners is generally prohibited from:
- Regulation Z's ability-to-repay (ATR) rule generally requires a lender making a covered mortgage loan to:
- Under Regulation Z's loan originator compensation rule, a loan originator's compensation generally may NOT be based on:
- At or before settlement on a purchase loan requiring an escrow account, RESPA requires the servicer to provide the borrower with:
Last reviewed: · editorial process
PrepPass Editorial Team · Verified against NMLS SAFE Mortgage Loan Originator National Test · How we review