Colorado enacts consumer privacy law, becoming third state to do so | Thompson Coburn LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Black borrowers are 80% more likely to be denied a mortgage than white borrowers.
The Fair Lending for All Act would establish a new federal office to ensure discrimination in lending is not happening.
The bill would help end discriminatory practices by clarifying that discrimination based on zip code or census tract is prohibited under ECOA.
This is an opinion column. The thoughts expressed are those of the author.
In 2020, Black borrowers were 80% more likely to be denied a mortgage than white borrowers. While this statistic is jarring, it is hardly surprising to those of us familiar with the US mortgage industry. A holistic look at America’s housing market shows that it disadvantages people of color in some startling and systemic ways that are not always obvious at the loan level.
FHFA issues policy statement on fair lending FHFA
The Federal Housing Finance Agency (FHFA) issued a Policy Statement on Fair Lending communicating its “commitment to comprehensive fair lending oversight of Fannie Mae, Freddie Mac (the Enterprises), and the Federal Home Loan Banks” and providing a foundation for building out FHFA’s fair lending program.
The Federal Housing Enterprises Financial Safety and Soundness Act empowers FHFA to help effectuate The Fair Housing Act and the Equal Credit Opportunity Act through monitoring and information-gathering, conducting supervisory examinations, and engaging in administrative enforcement activities.
FHFA invites comments on the application of the Policy Statement within 60 days of its publication in the
America's Housing Market Is Racist. Congress Could Easily Help Fix It if They Wanted To. amren.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from amren.com Daily Mail and Mail on Sunday newspapers.
FHFA Mandates Quarterly Fair Lending Reports nationalmortgageprofessional.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgageprofessional.com Daily Mail and Mail on Sunday newspapers.