Tag Archives: Redlining

Redlining settlement wouldn’t resolve 1st Amendment questions

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The CFPB claimed statements made by hosts of Townstone Financial’s AM radio call-in show and podcasts discouraged Black Chicago residents from applying for a mortgage. Continue reading →

The new redlining: Paying a buyer agent is just part of the challenge

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Now that buyer agency compensation rules are in place, Trina Gonzales-Van writes, the NAR, regulatory bodies and significant stakeholders must consider their impact on borrowers and determine whether these policies do more harm than good. Continue reading →

Fairway blasts federal regulators in $10M redlining settlement

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Nation’s third biggest lender casts itself as a victim of politics, noting CFPB launched its investigation the day after Biden Administration took office. Continue reading →

DOJ’s 14th redlining settlement is its first with a credit union

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Citadel Federal Credit Union “respectfully disagrees” with allegations, agrees to invest $6.5 million and open three new branches in predominantly Black and Hispanic neighborhoods in Philadelphia. Continue reading →

OceanFirst Bank settles DOJ redlining allegations for $15M

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Since launching an initiative to combat redlining in 2021, federal prosecutors have reached settlements with 13 mortgage lenders totaling more than $137 million. Continue reading →

City National revamps mortgage after redlining settlement

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The Royal Bank of Canada subsidiary is now offering grants of up to $50,000 in majority-Black or Hispanic census tracts in the metro Los Angeles market as part of a larger initiative to boost lending in underserved communities. Continue reading →

Bank launches Spanish website in wake of redlining settlement

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Washington Trust “vehemently” denied the allegations leveled by the Justice Department last fall, but agreed to invest and spend at least $9 million to improve access to mortgage credit in minority neighborhoods in Rhode Island. Continue reading →

8 fair housing terms every agent should know

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Keller Williams’ Julia Lashay Israel offers a glossary to help you navigate the complex landscape of fair housing regulations and provide fair and equal service to all clients. Continue reading →

April is Fair Housing Month. How to handle a sensitive topic with grace

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As real estate professionals, we are often our clients’ first and sole trusted advisers, writes Dr. Lee Davenport. It’s key that we proactively “school” them on what fairness in real estate looks like. Continue reading →

FNB of Pennsylvania to pay $13.5M to settle redlining allegations

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FNB’s 2017 acquisition of Yadkin Bank for $1.8 billion expanded its footprint into North Carolina, where the DOJ alleges it avoided providing mortgages to majority-Black and Hispanic communities. Continue reading →