Diversity and equality

The defunct Trident Mortgage, whose obligations were handled by Home Services of America, was accused of "systemic racism" in lending around Philadelphia.

The Mortgage Bankers Association deleted web pages including a diversity, equity and inclusion playbook, citing compliance with President Trump's orders.

The comment period for the Affirmatively Furthering Fair Housing interim final rule has been extended, but consumer advocates are clear in their opposition.

The Consumer Financial Protection Bureau asked a federal judge to vacate and set aside a settlement against a Chicago mortgage lender, accusing the CFPB of misconduct in a case brought under former Director Kathy Kraninger, a Trump appointee.

Plaintiffs want to certify a class of 119,100 minority mortgage customers who were unfairly deprived of ultra-low mortgage rates during the refi boom.

According to the litigation, a homeowner's Denver property was valued 25% less because of her race.

Researchers from Lehigh University concluded that telling commercially available language learning models, like ChatGPT, to "use no bias" significantly minimized it.

The lender denied its software uses artificial intelligence in fighting a 'digital redlining' case.

Rocket Mortgage relied on a biased appraisal when it denied a borrower's refinance application in Denver three years ago, the housing agency claims.

A federal appeals court ruled that the Equal Credit Opportunity Act prohibits not just outright discrimination but also the discouragement of prospective applicants for credit.

Nikitra Bailey, EVP at the National Fair Housing Alliance, says communities of color are more vulnerable to the impacts of climate change because of prior redlining practices. She explains that a HUD rule could make a big difference.

With millions of Black and Hispanic consumers likely to become new homeowners over the coming decades, the lending community stands to benefit if they are willing to combine expanded underwriting with direct outreach.

In recent years, the wealth gulf between white and Black families has only grown. But there is hope that advances in fintech, such as wider adoption of artificial intelligence, can help.

Rocket Mortgage entered into an agreement with the Department of Housing and Urban Development and will pay the consumers $65,000 to resolve the matter.

Plaintiffs seeking class certification claim the bank uses an underwriting system that discriminates against minority mortgage applicants.

Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.

As part of the settlement, Loandepot will beef up its appraisal policies and practices, it announced.

The Justice Department and the CFPB are increasingly relying on emails among employees that contain discriminatory comments to strengthen their hand in cases against lenders.

A mixed-race couple claims a "whitewashed" valuation in 2023 returned a price 39% higher than the depository-approved result a year earlier.

Across the nation, over 700,000 Black families are "income mortgage-ready," or able to spend 30% or less of their income on a home loan for the typical house in their local market.