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Methods to combat the discrimination include lender disclosures explaining the process, industry guidance around reconsiderations of value, uniform 3D property scans and more automated valuation models easier to audit than manual valuations.
September 30 -
SPCPs are posed as an equitable housing solution but hesitation and confusion about them is persistent in the mortgage industry, housing finance experts said.
September 29 -
The trade groups, including the American Bankers Association, allege the Consumer Financial Protection Bureau exceeded its authority by claiming discrimination in any financial product violates the federal prohibition on "unfair, deceptive or abusive acts or practices."
September 28 -
When voters in Oakland, Berkeley and South San Francisco receive ballots in the mail next month, they'll be asked whether their cities should be allowed to help build more desperately needed affordable housing.
September 26 -
The country's largest banks should deepen partnerships with minority depository institutions and community development financial institutions, and regulators should facilitate that process.
September 22National Bankers Association -
Financial downturns hit lower-wealth communities first and cause them to suffer the longest.
September 9Government National Mortgage Association (Ginnie Mae) -
A contested home valuation was based on the professional's "racist beliefs" and eschewed industry standards with comparisons of properties away from the majority-white neighborhood, according to the lawsuit.
August 23 -
First introduced in 2020, the Fair Access to Financial Services Act would require banks to serve all customers in a manner similar to existing requirements for hotels and restaurants under the Civil Rights Act of 1964.
July 26 -
California counties must now work to remove decades-old racist language in property records that once banned people of color from buying homes in neighborhoods across the state.
July 5 -
Congressional authorization for credit-preference programs in the Equal Credit Opportunity Act could mitigate disagreements that might arise from the equitable housing finance plans, write two partners at K&L Gates.
July 5K&L Gates