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URL:https://www.learndesk.us/class/4746122453057536/lesson/46a2e9cb55758b4783b57dc75aa60a16?ref=outlook-calendar
SUMMARY:Qualifying for a Loan
DTSTART;TZID=America/Los_Angeles:20260527T190000
DTEND;TZID=America/Los_Angeles:20260527T200000
LOCATION:https://www.learndesk.us/class/4746122453057536/lesson/46a2e9cb55758b4783b57dc75aa60a16?ref=outlook-calendar
DESCRIPTION: 
Equal Credit Opportunity Act
Loan application process
Loan underwriting
Qualifying the buyer
Loan commitment

To qualify for a mortgage loan, a borrower must meet the lender's qualifications in terms of income, debt, cash, and net worth. In addition, a borrower must demonstrate sufficient creditworthiness to be an acceptable risk.
Equal Credit Opportunity Act
The Equal Credit Opportunity Act (ECOA) requires a lender to evaluate a loan applicant on the basis of that applicant's own income and credit rating unless the applicant requests the inclusion of another's income and credit rating in the application. In addition, ECOA has prohibited a number of practices in mortgage loan underwriting. Accordingly, a lender may not:
 discount or disregard income from part-time work, a spouse, child support, alimony, or separate maintenance. Further, the loan officer may not ask whether any of the applicant's income is derived from these sources.  assume that income for a certain type of...

https://www.learndesk.us/class/4746122453057536/lesson/46a2e9cb55758b4783b57dc75aa60a16?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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