...serving these markets, they could be at risk of redlining! This data should necessitate diverse markets as vital company strategy. With many minorities—in particular Latinos—largely being first-time homebuyers, it’s a...
Read More »Search Results for: Redlining
Asurity Technologies Announces Integrated Compliance Platform
...Mortgage Resources Group, LLC into an integrated compliance platform. According to Asurity, this platform will allow lenders to establish compliance, proactively manage a fair lending and redlining risk, and submit...
Read More »OCC Releases CRA Evaluations for 20 Financial Institutions
...prohibits the denying or increasing the cost of banking to residents of racially defined neighborhoods, better known as redlining, according to the OCC’s website. The Act instructs the appropriate federal...
Read More »Here’s What the CFPB Has in Store for 2017
...has identified three particular areas they will be centering their focus on–redlining, mortgage and student loan servicing, and small business lending. The Bureau says that in 2017, they will determine...
Read More »OCC’s CRA Performance Evaluations Will Shape Future of Finance
...state and local governments, and community organizations to promote banking services to all members of a community. The CRA bans redlining and encourages attempts to meet the credit needs of...
Read More »Counsel’s Corner: How “Bank of America v. Miami” May Impact Servicers
...first being redlining and the second being reverse redlining. The city claimed that they could have a cause of action under the Fair Housing Act because they were an "aggrieved...
Read More »Counsel’s Corner: It’s Not Over Yet Between Fair Housing Alliance and U.S. Bank
...insurance redlining, mortgage lending discrimination, and equal credit opportunity. Dane has testified before both houses of Congress on mortgage lending discrimination issues, and regularly speaks to lenders, private fair housing...
Read More »CFPB and Justice Department Fine Hudson City Bank $27 Million for Redlining
The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) have taken action against Hudson City Savings Bank for alleged discriminatory redlining practices, according to a joint announcement...
Read More »City of Oakland Lawsuit Accuses Wells Fargo of Reverse Redlining
The city of Oakland, California, has filed a lawsuit against Wells Fargo accusing the bank of reverse redlining by targeting minorities for high-cost mortgage loans which later led to foreclosures...
Read More »Circuit Court Revives Predatory Mortgage Lending Suits Against Three Large Banks
...banks of “redlining” and “reverse redlining." Redlining is the practice of refusing to extend mortgage credit to minority borrowers on equal terms as to non-minority borrowers, while reverse redlining is...
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