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Federal Deposit Insurance Corporation

Division of Supervision

550 17th Street NW, Washington, DC 20429

Mortgage Loan Prequalifications

July 3, 1996

Help Guide for Financial Institutions


The FDIC's Division of Compliance and Consumer Affairs (DCA) has produced the enclosed
financial institution help guide entitled Mortgage Loan Prequalifications:Applications or Not? The
guide answers many questions about mortgage loan prequalification programs frequently posed
to DCA examiners, regional managers and community affairs staff by lenders, consumers and


The guide will assist FDIC-regulated financial institutions to develop mortgage loan
prequalification programs and services that provide good customer service and comply with
important components of fair lending laws and regulations, including the Equal Credit
Opportunity Act (ECOA), the Fair Housing Act (FHA), and the Home Mortgage Disclosure Act
(HMDA). The guide will also help institutions minimize technical and substantive violations
commonly encountered in routine compliance examinations.
DCA's mission is to promote compliance with fair lending and other consumer protection laws
and regulations, and to increase public understanding of and confidence in the deposit
insurance system. While the division's mission is accomplished in part through compliance
examinations, DCA hopes to further its goals by assisting financial institutions with fair lending
compliance through education and guidance. If this guide proves useful to financial institutions,
DCA will consider developing other help guides on topics of current interest or concern.
Please contact your DCA Regional Office for more information about compliance with fair
lending laws and regulations for specific mortgage loan prequalification programs.
Carmen J. Sullivan


The attachment to this Financial Institution Letter is not currently available in electronic format. Until it is in
a form that will allow us to post it to the internet, you may obtain hard copy (fax not available) from:
Public Information Center
Room 100
801 17th St. NW
Washington, DC 20434
ph: (703) 562-2200
Distribution: FDIC-Supervised Banks (Commercial and Savings)

Last Updated 11/20/2018