Tag: Fair Lending

CFPB – Agency Clarifies that is it Illegal for Lenders to Discriminate based on Sexual Orientation and Gender Identity – Dated March 9, 2021

Written by: Lloyd Rutherford, Staff Writer The CFPB has made it clear that they are pursuing Fair Lending claims much more aggressively than before.  This clarification bulletin adds additional perspective for lenders to consider in their monitoring. Rule Synopsis: The CFPB issued an interpretive rule to remind lenders that discrimination by lenders based on sexual […]

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If a loan is approved by FHA’s total scorecard and the DE Underwriter, can the lock desk refuse a pricing exception due to credit score risk outside of FHA guidelines?

Answer: While it is not a direct compliance violation, the implications of denying a pricing exception outside of written policy can be construed as Disparate Treatment under ECOA. If it is standard practice to grant exceptions and the lock desk refuses due to “risk”, then their policy should state that “these are the conditions where […]

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