Federal Mortgage Law · 24% of the SAFE exammedium
Correct answer: Permissible because in community property states, a spouse's debts may legally become shared obligations
In community property states, marital debts may become joint obligations by operation of state law. Because the spouse's liabilities could legally affect the applicant's ability to repay, Regulation B permits lenders to inquire about a non-applicant spouse's debts in community property states. This is one of the recognized exceptions to the general prohibition on requiring spousal information. "," is incorrect because the exception exists. "A violation of ECOA unless the spouse provides writt..." is wrong because income inquiry and debt inquiry are treated differently — only the debt inquiry is required here. "Permissible because in community property states, a..." is not a condition established by Regulation B.
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