HUD Declares Honest Lending Settlement with Mortgage Firm – HUD

August 19, 2022 By admin
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WASHINGTON – The U.S. Division of Housing and City Growth (HUD) introduced the entry of a Conciliation Settlement (Settlement) between the Nationwide Group Reinvestment Coalition (NCRC) and Motion Mortgage LLC, resolving allegations that it engaged in discriminatory lending practices primarily based on race and nationwide origin, in violation of the Honest Housing Act. Learn the Settlement.
The Honest Housing Act prohibits mortgage lenders and others concerned in housing-related lending practices from discriminating due to race, shade, faith, nationwide origin, intercourse (together with gender identification and sexual orientation), incapacity, and familial standing.
“This settlement displays HUD’s dedication to making sure that everybody has equal entry to credit score no matter their race or nationwide origin,” mentioned Demetria L. McCain, HUD’s Principal Deputy Assistant Secretary for Honest Housing and Equal Alternative. “It’s crucial that lenders adjust to truthful housing legal guidelines. HUD will proceed working to make sure that all candidates are handled equally.”
This Settlement arises from a grievance filed with HUD by NCRC alleging that it had carried out testing within the Seattle-Tacoma space, which revealed totally different remedy of Black and Hispanic testers and White testers looking for housing loans. Motion Mortgage, LLC denies having supplied much less favorable remedy to the testers primarily based on race or nationwide origin. 
Below the Settlement phrases, Motion Mortgage LLC pays $65,000 to NCRC and contribute a further $10,000 to a Seattle-area non-profit group specializing in offering monetary literacy and housing training and counseling for individuals in majority-minority census tracts within the Seattle-Tacoma-Bellevue metropolitan space. Motion Mortgage, LLC can even conduct a “Seize the Key” occasion within the Seattle metro space designed to enhance homeownership charges of Black homebuyers. Workers of Motion Mortgage LLC can even full further truthful lending coaching. The settlement shouldn’t be construed as an admission of fault by the mortgage firm or as proof of a discovering that Motion Mortgage LLC violated the Honest Housing Act.
People who imagine they’ve skilled discrimination in housing might file a grievance by contacting HUD’s Workplace of Honest Housing and Equal Alternative at (800) 669-9777 (voice) or (800) 877-8339 (Federal Relay Service).
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