Washington Trust denied allegations leveled by the Justice Department last fall, but agreed to invest at least $9M to improve access to mortgage credit in minority neighborhoods
The public is invited to join leaders from the American Bankers Association and mortgage giants Fannie Mae and Freddie Mac for an Appraisal Subcommittee hearing on tackling bias
The lender says credit scores, home appraisals and broader inequities in the U.S. economy explain the higher approval rates for white borrowers
APIs are designed to help lenders discover bias in algorithms and take a second look at rejected applicants
Interactive tool tracks disparities in homeownership rates, home values and distribution of housing wealth by race and ethnicity
If FHA financing is not an option, minorities may face 'disparate impact'
Zillow, HUD will host town hall meeting, 'Building Equality in Housing'
Critics: Focusing on outcomes, rather than intent, flies in the face of sound underwriting practices
Agreement with DOJ also addresses treatment of married borrowers
Feds settle with Cornerstone, sue MGIC for alleged Fair Housing Act violations
GEM Mortgage denies charging Hispanic applicants more
Failed lenders were more likely to charge high rates