On April 30, 2012, the United States Department of Justice announced the settlement of a lawsuit against the Mortgage Guaranty Insurance Corporation (MGIC) for discriminating against women on maternity leave in violation of the Fair Housing Act. According to its press release, the settlement is the DOJ’s first involving discrimination against women and families in mortgage …
mortgage
DOJ Sues NY Mortgage Company for Lending Discrimination
The U.S. Department of Justice has filed a lawsuit alleging that GFI Mortgage Bankers, Inc., violated the Fair Housing Act and the Equal Credit Opportunity Act by charging African-American and Latino borrowers higher interest rates and fees on home mortgage loans than white borrowers. According to the Justice Department’s press release announcing the lawsuit: From 2005 through at least …
Consumer Group Releases New Study on Fair Lending
The National Consumer Law Center (NCLC) issued a new report examining the fair housing implications of the mortgage lending crisis. The report, entitled “Why Responsible Mortgage Lending Is a Fair Housing Issue,” notes: The historic legacy of redlining contributed materially to the subprime boom and bust, as subprime lenders and brokers flooded African‐American and Latino …