Industry NewsMortgage

DOJ using mortgage data to ID high-cost loans to minorities

Consumer groups urge more stringent enforcement
Published on Jul 26, 2007

Watch Connect NYC 2017 Live
Tune in live as the best and brightest explain how to execute and grow your business from the main stage of Connect.

The U.S. Department of Justice is using loan-level data collected from lenders to investigate whether minorities are targeted for higher-priced loans, but consumer and civil rights groups say not enough is being done to combat unfair lending practices.

Since last fall, the Federal Reserve Board and FDIC have referred five suspected cases of unfair lending practices to the DOJ, said Grace Chung Becker, deputy assistant attorney general in the Attorney General's Civil Rights Division ...