What must lenders ensure when evaluating a borrower’s application according to ECOA?

Lenders are required under the Equal Credit Opportunity Act (ECOA) to evaluate a borrower's application without discrimination. This means that all applicants should be treated fairly and equally, regardless of characteristics such as race, color, religion, national origin, sex, marital status, or age. The goal of this regulation is to promote fairness and eliminate bias in lending practices.

Evaluating applications without discrimination ensures that lending decisions are based on objective criteria like creditworthiness, income, and other relevant financial data. This approach helps maintain the integrity of the lending process and protects consumers from unfair treatment.

The other options imply practices that would be contrary to ECOA's principles. For instance, rejecting applications based solely on a specific credit score or considering only income would not account for other vital factors that may reflect an applicant's ability to repay a loan. Additionally, relying solely on subjective judgments can introduce bias, which ECOA is designed to eliminate. Thus, focusing on an unbiased evaluation process aligns with the legislative intent of the ECOA.