PSI Real Estate Exam: Practice of
Real Estate
The total cost of financing a loan in percentage terms, as a relationship of the total
finance charges to the total amount financed. - Annual Percentage Rate (APR)
The illegal practice of inducing owners to sell their homes (often at a deflated price) by
suggesting that the ethnic or racial composition of the neighborhood is changing, with
the implication that property values will decline as a result. Also called panic selling. -
Blockbusting
Treating people unequally because of their race, religion, sex, national origin, age, or
some other characteristic of a protected class, in violation of civil rights laws. -
Discrimination
Federal law that prohibits discrimination in granting credit to people based on sex, age,
marital status, race, color, religion, national origin or receipt of public assistance. - Equal
Credit Opportunity Act (ECOA)
A protected group under the Federal Fair Housing Act and Ohio Civil Rights Law,
making it illegal to discriminate against a person because he or she is the parent or
guardian of a child under 18 years of age. - Familial Status
Government agency that insures mortgage loans. - Federal Housing Administration
(FHA)
government agency that deals with housing issues. - (HUD) The Department of
Housing and Urban Development
When a lender refuses to make loans secured by property in a certain neighborhood
because of the racial or ethnic composition of the neighborhood. - Redlining
Federal guidelines under the Truth-in-Lending Act that require full disclosure of all credit
terms for consumer loans. - Regulation Z
Channeling prospective buyers or tenants to particular neighborhoods based on their
race, religion, national origin, or ancestry. - Steering
A person working with a fair housing organization, who pretends to be interested in
buying or renting property from someone suspected of unlawful discrimination. Also
called: Checker - Tester
Real Estate
The total cost of financing a loan in percentage terms, as a relationship of the total
finance charges to the total amount financed. - Annual Percentage Rate (APR)
The illegal practice of inducing owners to sell their homes (often at a deflated price) by
suggesting that the ethnic or racial composition of the neighborhood is changing, with
the implication that property values will decline as a result. Also called panic selling. -
Blockbusting
Treating people unequally because of their race, religion, sex, national origin, age, or
some other characteristic of a protected class, in violation of civil rights laws. -
Discrimination
Federal law that prohibits discrimination in granting credit to people based on sex, age,
marital status, race, color, religion, national origin or receipt of public assistance. - Equal
Credit Opportunity Act (ECOA)
A protected group under the Federal Fair Housing Act and Ohio Civil Rights Law,
making it illegal to discriminate against a person because he or she is the parent or
guardian of a child under 18 years of age. - Familial Status
Government agency that insures mortgage loans. - Federal Housing Administration
(FHA)
government agency that deals with housing issues. - (HUD) The Department of
Housing and Urban Development
When a lender refuses to make loans secured by property in a certain neighborhood
because of the racial or ethnic composition of the neighborhood. - Redlining
Federal guidelines under the Truth-in-Lending Act that require full disclosure of all credit
terms for consumer loans. - Regulation Z
Channeling prospective buyers or tenants to particular neighborhoods based on their
race, religion, national origin, or ancestry. - Steering
A person working with a fair housing organization, who pretends to be interested in
buying or renting property from someone suspected of unlawful discrimination. Also
called: Checker - Tester
