The Race-Based Mortgage Penalty

A New York Times editorial decries discriminatory mortgage lending by banks in”A defiance of laws such as the Community Reinvestment Act of 1977 and the Fair Housing Act of 1968.  “An alarming new study by the Center of Investigative Reporting’s online publication Reveal found that African Americans and Latinos were far more likely to be denied conventional mortgages than whites even when income, loan size and other factors were taken into account.”  To read the complete editorial, click here.  Contact your senator to support S.1685 – Credit Score Competition Act of 2017, “to consider a borrower’s credit score only if certain procedural requirements are met with respect to the validation and approval of credit-scoring models.” Click here to read more about the bill and follow the progress of the legislation.

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One Comment on “The Race-Based Mortgage Penalty

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