In announcing the $9 million settlement with the Florida lender, Attorney General Merrick Garland said DOJ “currently has over two dozen active investigations into redlining, spanning neighborhoods across the country.” Continue reading
With Fannie and Freddie leading the charge, a growing number of lenders are using special purpose credit programs to boost homeownership in underserved communities. Continue reading
Experts participating in BAD INPUT argue technology could expand access to credit, but also perpetuate discriminatory lending unless it is closely overseen. Continue reading
Regulators alleged statements made by hosts of Townstone Financial’s call-in show discouraged “prospective” African-American applicants from seeking mortgage loans. Continue reading
The biggest redlining settlement in DOJ history is the fifth enforcement action since the launch of the initiative to combat redlining in 2021, with $75 million in relief to date. City National denied that it engaged in redlining. Continue reading
Executives hope to reduce risk by reducing the size and narrowing the focus of bank’s mortgage business to better serve retail customers and minority communities. Continue reading
Earlier this month, NAR’s board of directors passed policies that touched on property reforms, fair lending enforcement and fair housing education for all real estate licensees, not just Realtors. Continue reading
The New York-based startup helps lenders discover bias in algorithms and take a second look at rejected applicants using “cutting edge AI fairness techniques.” Continue reading
A new interactive tool from the Urban Institute compares housing wealth equity in cities across America, tracking disparities in homeownership rates, home values, and the distribution of housing wealth by race and ethnicity. Continue reading
Having put the brakes on the Trump administration’s plans to reprivatize Fannie and Freddie, Democrats have been pushing for the “government sponsored enterprises” to provide more home loans for underserved borrowers. Continue reading