Which document is primarily used to inform borrowers of their rights regarding mortgage application practices?

The Fair Lending Act is fundamentally designed to ensure that borrowers are informed of their rights in relation to mortgage practices. It prohibits discrimination in lending and outlines the rights of consumers to ensure equality in the borrowing process. This act is key in raising awareness among borrowers about their protections against unfair lending practices and promotes transparency in the mortgage application process.

In contrast, the other options serve different purposes. The Closing Disclosure is primarily used to provide borrowers with the details of their final loan terms, including costs, but it does not specifically focus on informing them of their rights. The Loan Estimate gives borrowers an overview of the loan terms and associated costs, but it is not a document specifically aimed at rights education. The Homeowners Protection Act relates to private mortgage insurance and the conditions under which it can be canceled but does not detail borrower rights in the context of mortgage application practices.