Tag Archives: fair lending

Wells Fargo exiting correspondent mortgage lending business

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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 →

Realtors to push for required fair housing training nationwide

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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 →

FairPlay lands $4.5M seed round to help lenders combat racial bias

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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 →

How equitably is housing wealth distributed in your city?

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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 →

Fannie and Freddie must submit equitable housing finance plans

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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 →

Deep dive into mortgage data claims glaring racial disparities

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Mortgage lenders are more likely to turn down homebuyers of color than white applicants with similar attributes, and algorithms are likely to blame, according to in-depth analysis by The Markup, a nonprofit newsroom that’s “watching big tech.” Continue reading →

Lenders who rely on AI, algorithms could face new legal risks

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In a move that could pose challenges for lenders that employ AI and algorithms to evaluate borrowers, federal housing officials are moving moving to rescind policies to protect lenders and other businesses from claims of inadvertent discrimination. Continue reading →