SAFE Mortgage Loan Originator (MLO) National Test

All of the following are protected by the Truth in Lending Act, EXCEPT?

it provides minimum standards for most residential loans secured by a dwelling it gives guidance to a lender on whether they should grant a loan to a borrower it requires all lenders to have uniform set of disclosures

Correct Answer:

it gives guidance to a lender on whether they should grant a loan to a borrower

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