District of Columbia § 26-1152.06 Unfair steering or improper use of credit scores.

District of Columbia Statutes

§ 26-1152.06 — Unfair steering or improper use of credit scores.

District of Columbia § 26-1152.06

Title 26Banks and Other Financial Institutions.

Ch. 11AHome Loan Protection.

Subch. IIProhibited Practices.

This text of District of Columbia § 26-1152.06 (Unfair steering or improper use of credit scores.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 26-1152.06 (2026).

Text

(a)A lender shall not steer, counsel, or direct any prospective borrower to accept a loan product with a risk grade less favorable than the risk grade that the borrower would qualify for based on that lender’s then current underwriting guidelines, prudently applied, considering the information available to that lender, including the information provided by the borrower. A lender shall not violate this section if the risk grade determination applied to a borrower is reasonably based on the lender’s underwriting guidelines and if it is an appropriate risk grade category for which the borrower qualifies with the lender.

(b)The lender shall not make, or cause to be made, any false, deceptive, or misleading statement, representation, or determination regarding the borrower’s ability to quali

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A lender shall not steer, counsel, or direct any prospective borrower to accept a loan product with a risk grade less favorable than the risk grade that the borrower would qualify for based on that lender’s then current underwriting guidelines, prudently applied, considering the information available to that lender, including the information provided by the borrower. A lender shall not violate this section if the risk grade determination applied to a borrower is reasonably based on the lender’s underwriting guidelines and if it is an appropriate risk grade category for which the borrower qualifies with the lender.

(b) The lender shall not make, or cause to be made, any false, deceptive, or misleading statement, representation, or determination regarding the borrower’s ability to qualify for any mortgage product or the borrower’s credit score.