The rock and hard place between which lenders have found themselves in regard to the use of hiring screens and disparate impact (in hiring) just got a bit softer.
Jose Gonzalez, the first Hispanic president of a Federal Home Loan Bank, envisions eventually allowing new categories of lenders like REITs to join the system, but wants membership to stay as it is for now.
everyone, including the underwriter, has an impact on customer experience and denying that means you are no closer to addressing it.
The Consumer Financial Protection Bureau prohibits actions aimed at circumventing loan officer compensation rules. One example was a lender who permitted teams of LOs to share commissions.
Here is a list of responses to 15 questions that consumers typically ask mortgage originators when they are looking for reasons not to do business with them.