Mortgage discrimination or mortgage lending discrimination is the practice of banks, governments or other lending institutions denying loans to one or more groups of people primarily on the basis of race, ethnic origin, sex or religion. One of the most notable instances of wide-spread mortgage discrimination occurred in United States inner city neighborhoods from the 1930s up until the late 1970s. There is evidence that the practice still continues in the United States today.
Two AIG units settled federal charges that they discriminated against black home buyers on fees for mortgages and will pay $7.1 million for restitution and education efforts, the US Justice Department said on Thursday.
“This sort of practice is what I often call discrimination with a smile, because I would predict that many of the victims that we will contact will have no idea that they were victimized,” said Thomas Perez, head of the Justice ...
Two AIG (NYSE: AIG) units, AIG Federal Savings Bank and Wilmington Finance Inc., have settled mortgage discrimination cases filed against them. These two units were accused of discriminating against black home buyers on fees for ...
Two subsidiaries of the government-owned AIG have agreed to pay at least $6.1 million to resolve charges that they discriminated against African American borrowers by failing ...
The units, AIG Federal Savings Bank and Wilmington Finance Inc, will provide $6.1 million to about 2500 borrowers in at least 19 major metropolitan cities who were affected by the alleged discrimination, according to the department. ...
Justice Department Files Lawsuit Alleging Racial Discrimination at Ann Arbor, Michigan, Apartment Complex · OFIR Shuts Down Another Fraudulent Detroit Mortgage Company · City of Monroe Offers Workshop on Historic Preservation Tax ...
I am writing an econometrics report into discrimination that may or may not be present in the mortgage lending market. Using the eviews econometrics software I have to run certain tests to form the basis of my report. ...
We will soon feature a separate report about the discrimination suffered by married same-sex couples when applying for a mortgage. A mortgage consultant/ broker provided insight into the mishaps in Title caused by lender ignorance. ...
The small groups of Black Haves were forced to live in the same neighborhoods with the large group of Have Nots (“Redlining” was the term commonly used to refer to mortgage discrimination) before the Community Reinvesting Act and Equal ...
Many people have also made charges of mortgage discrimination on the bases of race. Recent studies in Texas have show that African Americans average credit scores are 10% to 35% worse than white Americans and Hispanic Americans credit ...