Two top Justice Department and CFPB officials said this week that they are seeing more instances of redlining and lenders steering minority borrowers into higher cost loans.
Wells Fargo has named Michael DeVito head of mortgage production, making him responsible for its retail and correspondent lending divisions.
The Hispanic Federation and New York Urban League have partnered to encourage homeownership among low-income and minority groups and to provide financial education.
Mortgage credit availability loosened in August as lenders have more jumbo loan products and added loans for borrowers with less-sterling credit, according to the Mortgage Bankers Association.
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