(a) Information to be requested.
(1) A creditor that receives an application
for credit primarily for the purchase or refinancing of a dwelling
occupied or to be occupied by the applicant as a principal residence,
where the extension of credit will be secured by the dwelling, shall
request as part of the application the following information regarding
the applicant(s):
(i) ethnicity, using the categories
Hispanic or Latino, and Not Hispanic or Latino; and race, using the categories
American Indian or Alaska Native, Asian, Black or African American,
Native Hawaiian or Other Pacific Islander, and White;
(ii) sex;
(iii) marital status, using the categories
Married, Unmarried, and Separated; and
(iv) age.
(2) Dwelling means a residential
structure that contains one to four units, whether or not that structure
is attached to real property. The term includes, but is not limited
to, an individual condominium or cooperative unit and a mobile or
other manufactured home.
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(b) Obtaining of information. Questions regarding
ethnicity, race, sex, marital status, and age may be listed, at the
creditor’s option, on the application form or on a separate form that
refers to the application. The applicant(s) shall be asked but not
required to supply the requested information. If the applicant(s)
chooses not to provide the information or any part of it, that fact
shall be noted on the form. The creditor shall then also note on the
form, to the extent possible, the ethnicity, race, and sex of the
applicant(s) on the basis of visual observation or surname.
(c) Disclosure to applicant(s). The creditor shall inform the applicant(s) that the information
regarding ethnicity, race, sex, marital status, and age is being requested
by the federal government for the purpose of monitoring compliance
with federal statutes that prohibit creditors from discriminating
against applicants on those bases. The creditor shall also inform
the applicant(s) that if the applicant(s) chooses not to provide the
information, the creditor is required to note the ethnicity, race,
and sex on the basis of visual observation or surname.
(d) Substitute monitoring program. A monitoring program required by an agency charged with administrative
enforcement under section 704 of the act may be substituted for the
requirements contained in paragraphs (a), (b), and (c) of this section.
