Fair Housing / Unfair Practices Flashcards
Understand federal and state fair housing laws, protected classes, and prohibited practices to ensure ethical real estate transactions.
Which real estate term is this?
A scam targeting lenders where a phony broker claims to have a property and borrower for fraudulent loans.
Air Loans
Which real estate term is this?
An illegal process where property owners are pressured to sell cheaply and their property is resold at higher prices.
Blockbusting
Which real estate term is this?
Illegal practice of treating individuals differently based on personal characteristics.
Discrimination
Which real estate term is this?
Legislation prohibiting discrimination in housing and employment, creating protected classes.
Fair Housing Laws
Which real estate term is this?
One’s status as single, partnered, or part of a family, considered a protected class.
Familial Status
Which real estate term is this?
Illegal scams targeting homeowners in default with bogus rescue offers.
Foreclosure Rescue Scheme
Which real estate term is this?
Denial of equal housing access based on inclusion in a protected class.
Housing Discrimination
Which real estate term is this?
Buying a property and reselling it for an inflated price using a straw borrower and false appraisal.
Illegal Property Flipping
Which real estate term is this?
A referral fee or other similar form of compensation for a referral or similar action related to a transaction, and is prohibited unless appropriately pre-approved by the client(s) and allowed by law.
Kickback/Rebate
Which real estate term is this?
Targets borrowers who are at risk of default on a mortgage where scammers pose as representatives of a ‘loan modification company’ and solicit business with false promises to negotiate better loan terms for a fee.
Mortgage Loan Modification Scheme
Which real estate term is this?
An exemption to fair housing laws in certain residential situations (4 or fewer units) where the landlord is renting out a room in a private residence in which they themselves reside.
Mrs. Murphy’s Exemption
Which real estate term is this?
Prohibited actions by a lender convincing a borrower to take a disadvantageous loan.
Predatory Lending Practices
Which real estate term is this?
An antitrust violation where parties agree to set prices rather than letting market forces do so.
Price Fixing
Which real estate term is this?
Groups historically targeted by discrimination, especially in employment and housing, including race, sex, and religion.
Protected Classes
Which real estate term is this?
Prohibited practice of denying financial services based on neighborhood location.
Redlining
Which real estate term is this?
Misuse of covenants to prevent ownership by protected classes.
Restrictive Covenants
Which real estate term is this?
Arrangements where purchase of one service/product is contingent on another, violating antitrust laws.
Tie-in Agreements/Tying Agreements
Which real estate term is this?
Refers to loans or credit with excessive interest, restricted by state statutes.
Usury Lending Laws
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A decision based directly on someone’s membership in a protected class.
Direct Discrimination
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A rule or action that disproportionately affects a protected group, even if not intended.
Disparate Impact
