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Home / Opinion Digests / Loan Guarantee Denial Triggers ECOA Notice (access required)

Loan Guarantee Denial Triggers ECOA Notice (access required)

A mortgage lender’s failure to secure a federal loan guarantee under the U.S. Department of Agriculture’s guaranteed Rural Development program, as allegedly represented to the borrower, was an “adverse action” that required notification under the Equal Credit Opportunity Act, and the Alexandria U.S. District Court grants summary judgment to the borrower on her ECOA claim. The ...

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