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National Mortgage News: 6 legal disputes for mortgage professionals to watch

National Mortgage News, July 29, 2022, 6 legal disputes for mortgage professionals to watch

Movement Mortgage agreed to pay $75,000 to settle claims that a loan officer with the firm twice engaged in discriminatory practices. The complaints, filed by the National Community Reinvestment Coalition with the Department of Housing and Urban Development, claimed that Seattle-based officer Dave Skow violated the Fair Housing Act by withholding loan information and product options to the organization’s Black test applicant.

“This agreement reflects HUD’s commitment to ensuring that everyone has equal access to credit regardless of their race or national origin,” said Demetria L. McCain, HUD’s principal deputy assistant secretary for fair housing and equal opportunity. ?“It is imperative that lenders comply with fair housing laws.”

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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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